Allspring Global Investments Holdings LLC Acquires 16,140 Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG)

Allspring Global Investments Holdings LLC grew its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 38.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 owned about 0.08% of Healthcare Services Group worth $603,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Heartland Advisors Inc. lifted its position in Healthcare Services Group by 34.5% during the third quarter. Heartland Advisors Inc. now owns 1,597,456 shares of the business services provider’s stock valued at $17,591,000 after purchasing an additional 409,417 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Healthcare Services Group by 91.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,561,283 shares of the business services provider’s stock worth $16,191,000 after acquiring an additional 744,527 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Healthcare Services Group by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,488,356 shares of the business services provider’s stock worth $15,524,000 after acquiring an additional 46,951 shares in the last quarter. Azarias Capital Management L.P. increased its stake in Healthcare Services Group by 6.7% in 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 acquiring an additional 74,129 shares during the last quarter. Finally, Brandes Investment Partners LP raised its position in Healthcare Services Group by 336.6% during the third quarter. Brandes Investment Partners LP now owns 843,802 shares of the business services provider’s stock valued at $8,801,000 after purchasing an additional 650,545 shares in the last quarter. Hedge funds and other institutional investors own 97.97% of the company’s stock.

Analysts Set New Price Targets

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

Healthcare Services Group Stock Performance

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

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

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.