Redmond Asset Management buys $2,748,836 stake in Healthcare Services Group (HCSG)

Healthcare Services Group (HCSG) : Redmond Asset Management scooped up 14 additional shares in Healthcare Services Group during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 75,559 shares of Healthcare Services Group which is valued at $2,748,836.Healthcare Services Group makes up approximately 1.37% of Redmond Asset Management’s portfolio.

Other Hedge Funds, Including , Analytic Investors sold out all of its stake in HCSG during the most recent quarter. The investment firm sold 8,357 shares of HCSG which is valued $302,106. Ridgeworth Capital Management sold out all of its stake in HCSG during the most recent quarter. The investment firm sold 14,688 shares of HCSG which is valued $529,502.Calvert Investment Management boosted its stake in HCSG in the latest quarter, The investment management firm added 260 additional shares and now holds a total of 5,973 shares of Healthcare Services Group which is valued at $210,787. Healthcare Services Group makes up approx 0.01% of Calvert Investment Management’s portfolio.Bronfman E.l. Rothschild boosted its stake in HCSG in the latest quarter, The investment management firm added 211 additional shares and now holds a total of 1,359 shares of Healthcare Services Group which is valued at $47,402. Healthcare Services Group makes up approx 0.01% of Bronfman E.l. Rothschild’s portfolio.Sit Investment Associates Inc reduced its stake in HCSG by selling 5,600 shares or 8.96% in the most recent quarter. The Hedge Fund company now holds 56,900 shares of HCSG which is valued at $2,001,173. Healthcare Services Group makes up approx 0.06% of Sit Investment Associates Inc’s portfolio.

Healthcare Services Group opened for trading at $37.68 and hit $38.18 on the upside on Monday, eventually ending the session at $38.16, with a gain of 1.54% or 0.58 points. The heightened volatility saw the trading volume jump to 3,14,743 shares. Company has a market cap of $2,770 M.

On the company’s financial health, Healthcare Services Group reported $0.27 EPS for the quarter, based on the information available during the earnings call on Oct 11, 2016. Analyst had a consensus estimate of $0.27. The company had revenue of $392.70 million for the quarter, compared to analysts expectations of $394.10 million. The company’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS.

Many Wall Street Analysts have commented on Healthcare Services Group. Robert W. Baird Initiated Healthcare Services Group on Sep 16, 2016 to “Outperform”, Price Target of the shares are set at $46.

Healthcare Services Group Inc. provides management administrative and operating services to the housekeeping laundry linen facility maintenance and dietary service departments of the health care industry. The Company caters to nursing homes retirement complexes rehabilitation centers and hospitals located in the United States. The Company operates its business in two segments: Housekeeping and Dietary. The Housekeeping segment includes housekeeping laundry and linen. Housekeeping segment also includes laundering and processing the bed linens uniforms and other assorted linen items utilized by a client facility. The Dietary segment includes dietary department services. Dietary consists of managing the client’s dietary department which is principally responsible for food purchasing meal preparation and providing professional dietitian consulting services which includes the development of a menu that meets a patient’s dietary needs.

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