Allspring Global Investments Holdings LLC Increases Stock Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Allspring Global Investments Holdings LLC grew its position in Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 1,152.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 166,643 shares of the business services provider's stock after purchasing an additional 153,333 shares during the period. Allspring Global Investments Holdings LLC owned about 0.23% of Healthcare Services Group worth $1,680,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in HCSG. SBI Securities Co. Ltd. acquired a new stake in Healthcare Services Group in the 4th quarter valued at $25,000. Sterling Capital Management LLC boosted its holdings in shares of Healthcare Services Group by 803.4% during the 4th quarter. Sterling Capital Management LLC now owns 2,358 shares of the business services provider's stock worth $27,000 after buying an additional 2,097 shares during the period. Bank of Montreal Can bought a new stake in shares of Healthcare Services Group during the 4th quarter worth about $118,000. PharVision Advisers LLC bought a new stake in Healthcare Services Group in the 4th quarter valued at about $147,000. Finally, Dark Forest Capital Management LP bought a new stake in Healthcare Services Group in the 4th quarter valued at about $158,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Healthcare Services Group Stock Down 0.5%

NASDAQ:HCSG traded down $0.08 during trading hours on Tuesday, hitting $14.69. 441,312 shares of the company's stock traded hands, compared to its average volume of 505,858. The firm has a market cap of $1.07 billion, a P/E ratio of 26.23 and a beta of 0.57. Healthcare Services Group, Inc. has a 52 week low of $9.13 and a 52 week high of $15.73. The business's fifty day simple moving average is $14.53 and its two-hundred day simple moving average is $12.17.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.05. The business had revenue of $447.66 million for the quarter, compared to the consensus estimate of $443.82 million. Healthcare Services Group had a return on equity of 11.68% and a net margin of 2.38%. The company's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $0.22 earnings per share. On average, analysts expect that Healthcare Services Group, Inc. will post 0.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Robert W. Baird upped their target price 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. Wall Street Zen raised Healthcare Services Group from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. UBS Group raised Healthcare Services Group from a "neutral" rating to a "buy" rating and raised their target price for the stock from $12.00 to $15.00 in a research report on Thursday, April 24th. Finally, Macquarie lifted their price objective 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. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $14.80.

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.