Redmond Asset Management LLC Buys 2,614 Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG)

Redmond Asset Management LLC grew its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,756 shares of the business services provider’s stock after purchasing an additional 2,614 shares during the quarter. Redmond Asset Management LLC’s holdings in Healthcare Services Group were worth $1,379,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of HCSG. GAMMA Investing LLC lifted its holdings in shares of Healthcare Services Group by 100.8% in the fourth quarter. GAMMA Investing LLC now owns 2,137 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 1,073 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Healthcare Services Group by 804.0% in the third quarter. Farther Finance Advisors LLC now owns 2,730 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 2,428 shares in the last quarter. Financial Management Professionals Inc. lifted its holdings in Healthcare Services Group by 85.7% during the third quarter. Financial Management Professionals Inc. now owns 8,180 shares of the business services provider’s stock worth $91,000 after acquiring an additional 3,774 shares during the period. Bleakley Financial Group LLC bought a new stake in Healthcare Services Group during the third quarter worth $116,000. Finally, Ieq Capital LLC bought a new stake in Healthcare Services Group during the fourth quarter worth $118,000. Institutional investors own 97.97% of the company’s stock.

Analyst Ratings Changes

HCSG has been the topic of a number of recent analyst reports. Benchmark reiterated a “buy” rating and set a $17.00 price target on shares of Healthcare Services Group in a report on Thursday, December 19th. StockNews.com lowered Healthcare Services Group from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Macquarie initiated coverage on Healthcare Services Group in a report on Monday, December 16th. They set a “neutral” rating and a $13.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.00.

Healthcare Services Group Price Performance

NASDAQ:HCSG opened at $10.56 on Friday. The business has a fifty day simple moving average of $11.35 and a two-hundred day simple moving average of $11.22. Healthcare Services Group, Inc. has a 1 year low of $9.70 and a 1 year high of $13.00. The company has a market capitalization of $776.25 million, a P/E ratio of 19.56 and a beta of 0.56.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Wednesday, February 12th. The business services provider reported $0.16 earnings per share (EPS) 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%. As a group, analysts anticipate that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current 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.