Healthcare Services Group, Inc. (NASDAQ:HCSG) Shares Sold by Connors Investor Services Inc.

Connors Investor Services Inc. trimmed its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 18.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 217,800 shares of the business services provider's stock after selling 48,515 shares during the quarter. Connors Investor Services Inc. owned approximately 0.30% of Healthcare Services Group worth $2,530,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in HCSG. GAMMA Investing LLC grew its stake in Healthcare Services Group by 100.8% in the 4th quarter. GAMMA Investing LLC now owns 2,137 shares of the business services provider's stock worth $25,000 after acquiring an additional 1,073 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Healthcare Services Group in the fourth quarter valued at $25,000. Sterling Capital Management LLC grew its position in shares of Healthcare Services Group by 803.4% in the fourth quarter. Sterling Capital Management LLC now owns 2,358 shares of the business services provider's stock valued at $27,000 after purchasing an additional 2,097 shares during the period. Ieq Capital LLC acquired a new position in Healthcare Services Group in the fourth quarter valued at $118,000. Finally, Bank of Montreal Can purchased a new position in Healthcare Services Group during the fourth quarter worth about $118,000. 97.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on HCSG shares. Robert W. Baird upped their price objective on shares of Healthcare Services Group from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Macquarie upped their price target on shares of Healthcare Services Group from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Monday. StockNews.com raised shares of Healthcare Services Group from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Finally, UBS Group raised shares of Healthcare Services Group from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $12.00 to $15.00 in a research note on Thursday, April 24th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $14.80.

Healthcare Services Group Price Performance

NASDAQ HCSG traded up $0.26 during mid-day trading on Friday, hitting $14.78. The company's stock had a trading volume of 889,281 shares, compared to its average volume of 493,598. The firm has a market capitalization of $1.08 billion, a P/E ratio of 27.37 and a beta of 0.62. Healthcare Services Group, Inc. has a 52-week low of $9.13 and a 52-week high of $14.80. The stock's fifty day simple moving average is $10.82 and its two-hundred day simple moving average is $11.26.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. The company had revenue of $447.66 million during the quarter, compared to analyst estimates of $443.82 million. Healthcare Services Group had a net margin of 2.30% and a return on equity of 11.76%. The business's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 earnings per share. On average, equities analysts forecast that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current fiscal year.

About Healthcare Services Group

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.