Healthcare Services Group, Inc. (NASDAQ:HCSG) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Healthcare Services Group by 54.7%, acquiring 64,042 additional shares, resulting in approximately 0.25% ownership valued at around $1,826,000.
• Several other hedge funds significantly boosted their holdings in HCSG, with Sterling Capital Management increasing its stake by 803.4% in the fourth quarter.
• analysts have issued positive ratings on Healthcare Services Group, with price targets revised upward; Robert W. Baird raised its target from $13.00 to $15.00 and Zacks upgraded the stock to a "strong-buy" rating.

Connor Clark & Lunn Investment Management Ltd. increased its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 54.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 181,169 shares of the business services provider's stock after acquiring an additional 64,042 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.25% of Healthcare Services Group worth $1,826,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of HCSG. Sterling Capital Management LLC grew its holdings in shares of Healthcare Services Group by 803.4% in the 4th quarter. Sterling Capital Management LLC now owns 2,358 shares of the business services provider's stock worth $27,000 after acquiring an additional 2,097 shares during the last quarter. US Bancorp DE grew its holdings in shares of Healthcare Services Group by 161.4% in the 1st quarter. US Bancorp DE now owns 8,097 shares of the business services provider's stock worth $82,000 after acquiring an additional 5,000 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Healthcare Services Group in the 4th quarter worth $118,000. PharVision Advisers LLC purchased a new position in shares of Healthcare Services Group during the fourth quarter valued at $147,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Healthcare Services Group by 45.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,592 shares of the business services provider's stock valued at $147,000 after buying an additional 4,548 shares in the last quarter. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HCSG. Robert W. Baird lifted their price target on Healthcare Services Group from $13.00 to $15.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Benchmark boosted their price objective on Healthcare Services Group from $17.00 to $19.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Zacks Research raised Healthcare Services Group to a "strong-buy" rating in a research report on Tuesday. UBS Group raised Healthcare Services Group from a "neutral" rating to a "buy" rating and upped their price target for the company from $12.00 to $15.00 in a report on Thursday, April 24th. Finally, Macquarie raised Healthcare Services Group from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $15.00 to $16.00 in a report on Tuesday, July 29th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $16.25.

Insider Buying and Selling at Healthcare Services Group

In other news, EVP John Christopher Shea sold 21,368 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $13.25, for a total value of $283,126.00. Following the transaction, the executive vice president owned 32,976 shares of the company's stock, valued at $436,932. This represents a 39.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Healthcare Services Group Price Performance

NASDAQ HCSG opened at $15.02 on Friday. The firm has a market cap of $1.09 billion, a PE ratio of 107.29 and a beta of 0.54. Healthcare Services Group, Inc. has a one year low of $9.13 and a one year high of $15.73. The stock's 50 day simple moving average is $14.21 and its 200 day simple moving average is $12.60.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.01. The firm had revenue of $458.50 million for the quarter, compared to analyst estimates of $450.78 million. Healthcare Services Group had a return on equity of 11.74% and a net margin of 0.61%. The business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company earned $0.20 EPS. As a group, equities analysts expect that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current 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.

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