Heartland Advisors Inc. Cuts Stock Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Heartland Advisors Inc. cut its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 34.8% in the 4th quarter, HoldingsChannel reports. The firm owned 499,716 shares of the business services provider’s stock after selling 267,134 shares during the quarter. Heartland Advisors Inc.’s holdings in Healthcare Services Group were worth $5,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Healthcare Services Group by 100.8% during the fourth quarter. GAMMA Investing LLC now owns 2,137 shares of the business services provider’s stock valued at $25,000 after buying an additional 1,073 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Healthcare Services Group during the 4th quarter valued at approximately $25,000. Ieq Capital LLC purchased a new stake in shares of Healthcare Services Group during the 4th quarter worth approximately $118,000. Financial Management Professionals Inc. raised its holdings in shares of Healthcare Services Group by 32.4% in the 4th quarter. Financial Management Professionals Inc. now owns 10,833 shares of the business services provider’s stock worth $126,000 after purchasing an additional 2,653 shares during the period. Finally, Intech Investment Management LLC purchased a new position in Healthcare Services Group in the third quarter valued at approximately $156,000. 97.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on HCSG shares. StockNews.com downgraded Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Benchmark reaffirmed a “buy” rating and set a $17.00 price objective on shares of Healthcare Services Group in a report on Thursday, December 19th. Finally, Macquarie assumed coverage on shares of Healthcare Services Group in a research note on Monday, December 16th. They issued a “neutral” rating and a $13.00 target price for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.00.

Healthcare Services Group Stock Down 3.6 %

HCSG stock opened at $10.35 on Friday. The stock has a 50-day simple moving average of $10.83 and a two-hundred day simple moving average of $11.21. Healthcare Services Group, Inc. has a twelve month low of $9.70 and a twelve month high of $12.99. The firm has a market capitalization of $760.60 million, a PE ratio of 19.17 and a beta of 0.66.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, February 12th. The business services provider reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.04). Healthcare Services Group had a return on equity of 11.76% and a net margin of 2.30%. On average, equities research analysts anticipate that Healthcare Services Group, Inc. will post 0.74 EPS for the current fiscal year.

About Healthcare Services Group

Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.