Mitsubishi UFJ Asset Management UK Ltd. Cuts Stock Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Mitsubishi UFJ Asset Management UK Ltd. decreased its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 37.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 34,000 shares of the business services provider’s stock after selling 20,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Healthcare Services Group were worth $395,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of 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 worth $25,000 after purchasing an additional 1,073 shares in the last quarter. Tidal Investments LLC lifted its holdings in Healthcare Services Group by 1.7% during the 3rd quarter. Tidal Investments LLC now owns 78,218 shares of the business services provider’s stock worth $874,000 after buying an additional 1,276 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Healthcare Services Group by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,368 shares of the business services provider’s stock valued at $300,000 after buying an additional 1,311 shares during the period. Confluence Investment Management LLC grew its stake in shares of Healthcare Services Group by 1.1% in the fourth quarter. Confluence Investment Management LLC now owns 168,841 shares of the business services provider’s stock worth $1,961,000 after acquiring an additional 1,897 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Healthcare Services Group by 804.0% during the third quarter. Farther Finance Advisors LLC now owns 2,730 shares of the business services provider’s stock worth $30,000 after acquiring an additional 2,428 shares during the period. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on HCSG shares. Macquarie began coverage on Healthcare Services Group in a report on Monday, December 16th. They issued a “neutral” rating and a $13.00 target price for the company. Benchmark reissued a “buy” rating and set a $17.00 price objective on shares of Healthcare Services Group in a research report on Thursday, December 19th. Robert W. Baird cut their target price on shares of Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Finally, StockNews.com downgraded shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $13.80.

Healthcare Services Group Stock Up 1.0 %

Shares of HCSG stock opened at $11.82 on Wednesday. The stock’s 50-day moving average price is $11.89 and its 200 day moving average price is $11.26. The stock has a market capitalization of $866.29 million, a PE ratio of 17.13 and a beta of 0.56. Healthcare Services Group, Inc. has a 52-week low of $8.98 and a 52-week high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. The business had revenue of $428.10 million during the quarter, compared to analysts’ expectations of $429.95 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. Analysts expect that Healthcare Services Group, Inc. will post 0.81 earnings per share for the current fiscal year.

Healthcare Services Group Profile

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.