CSM Advisors Expands Portfolio with New Position in HCSG

CSM Advisors LLC has acquired a significant position in shares of **Healthcare Services Group, Inc.** (NASDAQ: **HCSG**) during the second quarter of 2023, according to a report from HoldingsChannel. The firm purchased **589,809 shares** of the healthcare services provider, valued at approximately **$8.86 million**. This investment reflects a broader trend of institutional investors increasing their stakes in the company.

Additional institutional investors have also made notable adjustments to their holdings in **Healthcare Services Group** recently. **USA Financial Formulas** bought a new position worth about **$60,000** during the same quarter. **US Bancorp DE** expanded its holdings by an impressive **161.4%** in the first quarter, acquiring **8,097 shares** valued at **$82,000**. Following this, **Martingale Asset Management L P** added a new stake valued at **$127,000**. Meanwhile, **Zurcher Kantonalbank Zurich Cantonalbank** increased its position by **45.3%**, now holding **14,592 shares** worth approximately **$147,000** after purchasing an additional **4,548 shares**. Finally, **Los Angeles Capital Management LLC** acquired a new position in the second quarter valued at **$156,000**. Collectively, institutional investors now own **97.97%** of the company’s stock.

Analysts Adjust Ratings and Price Targets

Several analysts have weighed in on **Healthcare Services Group**, leading to changes in stock ratings. **Zacks Research** downgraded the stock from a “strong buy” to a “hold” rating on **September 30, 2023**. Conversely, **Macquarie** upgraded their rating from “neutral” to “outperform,” increasing the target price from **$15.00** to **$16.00** on **July 29, 2023**. **UBS Group** also raised their price target from **$20.00** to **$22.00**, maintaining a “buy” rating as of **October 28, 2023**. Additionally, **Wall Street Zen** improved its rating from “buy” to “strong buy” on **November 1, 2023**. In contrast, **Weiss Ratings** reiterated a “hold (C-)” rating on **October 8, 2023**. Currently, three analysts rate the stock as a Buy while three assign a Hold rating. According to **MarketBeat**, the stock has an average rating of “Moderate Buy” with a consensus target price of **$19.25**.

Recent Stock Performance and Earnings Report

On **November 3, 2023**, **Healthcare Services Group** opened at **$17.26**, reflecting a market capitalization of **$1.22 billion** and a price-to-earnings ratio of **31.96**. The stock has shown resilience, with a **50-day moving average** of **$16.66** and a **200-day moving average** of **$15.16**. Over the past year, the stock has fluctuated between a low of **$9.13** and a high of **$20.00**.

The company recently announced its quarterly earnings on **October 22, 2023**, reporting **$0.23** earnings per share (EPS), exceeding analysts’ expectations of **$0.21** by **$0.02**. The firm achieved a net margin of **2.20%** and a return on equity of **12.23%**. Revenue for the quarter reached **$464.34 million**, surpassing estimates of **$460.36 million**, marking an **8.5%** increase year-over-year. Looking ahead, **Healthcare Services Group** has guided for continued growth, anticipating an EPS of **$0.74** for the current year.

**Healthcare Services Group, Inc.** specializes in providing management, administrative, and operational services to various departments within nursing homes, retirement complexes, rehabilitation centers, and hospitals across the United States. The company operates through two main segments: Housekeeping and Dietary.

For ongoing insights into institutional investments and the latest developments regarding **Healthcare Services Group, Inc.**, interested parties can visit HoldingsChannel.com for up-to-date filings and trades.