Palisade Capital Management LP Has $22.56 Million Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Palisade Capital Management LP raised its holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,237,866 shares of the business services provider's stock after acquiring an additional 20,720 shares during the period. Palisade Capital Management LP owned about 3.07% of Healthcare Services Group worth $22,558,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Wealthfront Advisers LLC acquired a new stake in shares of Healthcare Services Group in the 4th quarter valued at about $166,278,000. Vanguard Group Inc. grew its stake in shares of Healthcare Services Group by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 8,276,610 shares of the business services provider's stock worth $96,133,000 after acquiring an additional 23,373 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Healthcare Services Group by 4.9% in the fourth quarter. Royce & Associates LP now owns 4,668,599 shares of the business services provider's stock valued at $54,226,000 after purchasing an additional 219,103 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Healthcare Services Group by 9.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,523,745 shares of the business services provider's stock worth $29,313,000 after purchasing an additional 208,810 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Healthcare Services Group by 12.5% during the 4th quarter. Janus Henderson Group PLC now owns 1,266,785 shares of the business services provider's stock worth $14,714,000 after buying an additional 140,708 shares during the last quarter. Institutional investors and hedge funds own 97.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on HCSG shares. Macquarie lifted their price objective on shares of Healthcare Services Group from $13.00 to $15.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Robert W. Baird upped their price objective on Healthcare Services Group from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Wall Street Zen upgraded 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 lifted their price objective for the stock from $12.00 to $15.00 in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $14.80.

Healthcare Services Group Stock Performance

Shares of NASDAQ HCSG traded up $0.37 during mid-day trading on Thursday, reaching $15.31. The company had a trading volume of 293,162 shares, compared to its average volume of 506,492. Healthcare Services Group, Inc. has a one year low of $9.13 and a one year high of $15.73. The business's 50-day simple moving average is $14.48 and its 200 day simple moving average is $12.11. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 27.34 and a beta of 0.57.

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