Allspring Global Investments Holdings LLC Trims Stake in Healthcare Services Group, Inc. $HCSG

Allspring Global Investments Holdings LLC trimmed its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 59.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,321 shares of the business services provider’s stock after selling 207,491 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.21% of Healthcare Services Group worth $2,659,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in HCSG. Royal Bank of Canada grew its stake in Healthcare Services Group by 3.7% in the 1st quarter. Royal Bank of Canada now owns 139,126 shares of the business services provider’s stock valued at $1,402,000 after acquiring an additional 4,917 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Healthcare Services Group by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,704 shares of the business services provider’s stock valued at $441,000 after purchasing an additional 1,824 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Healthcare Services Group in the first quarter valued at about $242,000. Jane Street Group LLC grew its position in shares of Healthcare Services Group by 962.0% in the first quarter. Jane Street Group LLC now owns 200,082 shares of the business services provider’s stock valued at $2,017,000 after purchasing an additional 181,242 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Healthcare Services Group by 19.4% during the second quarter. Invesco Ltd. now owns 747,822 shares of the business services provider’s stock worth $11,240,000 after purchasing an additional 121,263 shares in the last quarter. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Healthcare Services Group Stock Performance

Shares of Healthcare Services Group stock opened at $22.74 on Friday. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 13.22 and a beta of 0.78. Healthcare Services Group, Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $25.75. The stock has a 50 day moving average of $22.62 and a 200 day moving average of $20.93.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, July 22nd. The business services provider reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. Healthcare Services Group had a return on equity of 18.97% and a net margin of 6.59%.The company had revenue of $470.81 million for the quarter, compared to the consensus estimate of $471.22 million. During the same quarter in the previous year, the business earned ($0.44) earnings per share. Analysts forecast that Healthcare Services Group, Inc. will post 1.01 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Weiss Ratings upgraded Healthcare Services Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, July 13th. Royal Bank Of Canada raised their target price on Healthcare Services Group from $22.00 to $24.00 and gave the company a “sector perform” rating in a research report on Thursday, April 23rd. Benchmark lifted their price target on Healthcare Services Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. UBS Group boosted their price target on Healthcare Services Group from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Finally, BMO Capital Markets increased their price objective on Healthcare Services Group from $22.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, April 23rd. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.50.

About Healthcare Services Group

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.