Connors Investor Services Inc. Sells 48,515 Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG)

Connors Investor Services Inc. reduced its position in Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 18.2% in the fourth quarter, according to the company in its most recent filing 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 period. Connors Investor Services Inc. owned about 0.30% of Healthcare Services Group worth $2,530,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of HCSG. PDT Partners LLC increased its position in shares of Healthcare Services Group by 80.4% during the 4th quarter. PDT Partners LLC now owns 76,992 shares of the business services provider's stock valued at $894,000 after purchasing an additional 34,323 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Healthcare Services Group by 8.4% during the 4th quarter. Northern Trust Corp now owns 771,772 shares of the business services provider's stock worth $8,964,000 after acquiring an additional 59,829 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Healthcare Services Group during the 4th quarter valued at $1,891,000. Price T Rowe Associates Inc. MD increased its stake in shares of Healthcare Services Group by 17.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 55,654 shares of the business services provider's stock worth $647,000 after purchasing an additional 8,074 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in shares of Healthcare Services Group during the 4th quarter valued at about $158,000. Institutional investors own 97.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on HCSG shares. UBS Group upgraded shares of Healthcare Services Group from a "neutral" rating to a "buy" rating and raised their price objective for the company from $12.00 to $15.00 in a research report on Thursday, April 24th. Robert W. Baird upped their price objective on Healthcare Services Group from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Macquarie increased their target price on Healthcare Services Group from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Finally, StockNews.com upgraded Healthcare Services Group from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $14.80.

Healthcare Services Group Trading Down 0.4 %

Shares of HCSG stock traded down $0.06 on Monday, reaching $14.73. The company's stock had a trading volume of 191,633 shares, compared to its average volume of 492,779. The stock's fifty day simple moving average is $10.82 and its 200-day simple moving average is $11.26. Healthcare Services Group, Inc. has a 1 year low of $9.13 and a 1 year high of $14.88. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 27.31 and a beta of 0.55.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The business services provider reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.05. The firm had revenue of $447.66 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 EPS. Equities research analysts forecast that Healthcare Services Group, Inc. will post 0.74 earnings per share 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.