Archon Capital Management LLC Purchases Shares of 104,000 Healthcare Services Group, Inc. (NASDAQ:HCSG)

Archon Capital Management LLC acquired a new position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 104,000 shares of the business services provider’s stock, valued at approximately $1,208,000. Healthcare Services Group makes up approximately 1.2% of Archon Capital Management LLC’s investment portfolio, making the stock its 27th largest position.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in Healthcare Services Group by 100.8% during the 4th 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 last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Healthcare Services Group in the fourth quarter valued at $25,000. Sterling Capital Management LLC boosted its stake in shares of Healthcare Services Group by 803.4% during the fourth quarter. Sterling Capital Management LLC now owns 2,358 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 2,097 shares during the last quarter. Bank of Montreal Can purchased a new stake in Healthcare Services Group during the 4th quarter worth about $118,000. Finally, Ieq Capital LLC acquired a new position in Healthcare Services Group in the 4th quarter valued at about $118,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HCSG has been the topic of several analyst reports. Benchmark reaffirmed a “buy” rating and set a $17.00 price target on shares of Healthcare Services Group in a research note on Thursday, December 19th. StockNews.com lowered shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Macquarie started coverage on Healthcare Services Group in a report on Monday, December 16th. They issued a “neutral” rating and a $13.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $14.00.

Healthcare Services Group Price Performance

NASDAQ HCSG opened at $9.77 on Friday. The company has a market cap of $717.98 million, a P/E ratio of 18.09 and a beta of 0.62. Healthcare Services Group, Inc. has a 12 month low of $9.50 and a 12 month high of $12.99. The company has a 50-day moving average of $10.50 and a 200-day moving average of $11.11.

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 net margin of 2.30% and a return on equity of 11.76%. As a group, equities research analysts anticipate that Healthcare Services Group, Inc. will post 0.74 EPS 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.