Allspring Global Investments Holdings LLC Grows Stake in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Allspring Global Investments Holdings LLC increased its holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 38.4% during the fourth quarter, Holdings Channel reports. The firm owned 58,172 shares of the business services provider’s stock after acquiring an additional 16,140 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Healthcare Services Group were worth $603,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in HCSG. International Assets Investment Management LLC bought a new stake in Healthcare Services Group in the 4th quarter valued at $921,000. Azarias Capital Management L.P. grew its position in shares of Healthcare Services Group by 6.7% during the fourth quarter. Azarias Capital Management L.P. now owns 1,181,917 shares of the business services provider’s stock valued at $12,256,000 after purchasing an additional 74,129 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Healthcare Services Group by 91.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,561,283 shares of the business services provider’s stock worth $16,191,000 after purchasing an additional 744,527 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Healthcare Services Group in the third quarter worth about $3,253,000. Finally, Connors Investor Services Inc. lifted its position in shares of Healthcare Services Group by 29.3% in the third quarter. Connors Investor Services Inc. now owns 241,519 shares of the business services provider’s stock worth $2,513,000 after buying an additional 54,668 shares in the last quarter. 97.97% of the stock is owned by hedge funds and other institutional investors.

Healthcare Services Group Stock Performance

NASDAQ HCSG opened at $11.00 on Friday. The business’s 50 day moving average price is $12.23 and its 200-day moving average price is $10.72. Healthcare Services Group, Inc. has a fifty-two week low of $8.75 and a fifty-two week high of $15.97. The company has a market cap of $810.04 million, a P/E ratio of 20.75 and a beta of 0.49.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings data on Wednesday, April 24th. The business services provider reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. The business had revenue of $423.40 million for the quarter, compared to analysts’ expectations of $424.91 million. Healthcare Services Group had a net margin of 2.30% and a return on equity of 10.81%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 earnings per share. As a group, equities analysts predict that Healthcare Services Group, Inc. will post 0.77 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Robert W. Baird lifted their price objective on Healthcare Services Group from $10.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Royal Bank of Canada raised their target price on shares of Healthcare Services Group from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. StockNews.com raised shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. UBS Group increased their price objective on shares of Healthcare Services Group from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Finally, Benchmark boosted their target price on shares of Healthcare Services Group from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $14.50.

Healthcare Services Group Company Profile

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.