Universal Beteiligungs und Servicegesellschaft mbH has reduced its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 19.1% during the second quarter of 2023. The fund’s most recent 13F filing with the Securities and Exchange Commission revealed that it now holds 90,031 shares after selling 21,207 shares over the quarter. At the end of this reporting period, Universal Beteiligungs owned approximately 0.12% of Healthcare Services Group, valued at $1,353,000.
Several other institutional investors have also adjusted their holdings in Healthcare Services Group. Integrated Quantitative Investments LLC acquired a new stake valued at $1,075,000 during the same quarter. The Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position by 6.5%, owning 18,721 shares worth $281,000 after purchasing an additional 1,135 shares. Similarly, the Police & Firemen’s Retirement System of New Jersey expanded its holdings by 8.3%, now owning 15,925 shares valued at $239,000.
Another notable investor, Geode Capital Management LLC, raised its position by 1.6%, bringing its total to 1,883,225 shares worth $28,309,000. Additionally, Jupiter Asset Management Ltd. entered the fray with a new stake valued at approximately $1,951,000. Collectively, institutional investors and hedge funds own 97.97% of Healthcare Services Group’s stock.
Stock Performance and Analyst Ratings
On Thursday, Healthcare Services Group stock opened at $18.95. Over the past year, the stock has fluctuated between a low of $9.13 and a high of $20.00. The company has a market capitalization of $1.34 billion, a price-to-earnings (P/E) ratio of 35.09, and a beta of 0.73. Its 50-day simple moving average stands at $17.15, while the 200-day average is $15.49.
Recently, various research analysts have provided updates on Healthcare Services Group. On November 1, 2023, Wall Street Zen upgraded the stock from a “buy” to a “strong-buy” rating. Conversely, Zacks Research downgraded the stock from a “strong-buy” to a “hold” rating on September 30, 2023. Weiss Ratings reaffirmed a “hold (C+)” rating, while Macquarie maintained a “buy” rating.
BMO Capital Markets has also initiated coverage on the stock, assigning a “market perform” rating with a price target of $20.00. Presently, three equity research analysts classify the stock as a “buy,” while four have issued a “hold” rating. According to data from MarketBeat, the consensus rating for the stock is “hold,” with an average price target of $19.40.
About Healthcare Services Group
Healthcare Services Group, Inc. provides a range of management, administrative, and operational services to sectors such as housekeeping, laundry, linen, facility maintenance, and dietary service departments within nursing homes, retirement complexes, rehabilitation centers, and hospitals across the United States. The company operates through two main segments: Housekeeping and Dietary.
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