Russell Investments Group Ltd. Increases Holdings in Healthcare Services Group, Inc. $HCSG

Key Points

• Russell Investments Group Ltd. increased its stake in Healthcare Services Group by 10.8%, now owning 512,721 shares valued at approximately $5.17 million.
• Healthcare Services Group received several upgrades from analysts, with Macquarie raising its target price from $15 to $16, reflecting positive market sentiment.
• The company reported $0.21 earnings per share for the last quarter, beating estimates, and achieved a 7.6% increase in revenue compared to the same period last year.

Russell Investments Group Ltd. raised its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 512,721 shares of the business services provider's stock after purchasing an additional 49,782 shares during the quarter. Russell Investments Group Ltd. owned 0.70% of Healthcare Services Group worth $5,168,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Public Sector Pension Investment Board raised its stake in shares of Healthcare Services Group by 27.6% in the first quarter. Public Sector Pension Investment Board now owns 233,034 shares of the business services provider's stock worth $2,349,000 after purchasing an additional 50,462 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Healthcare Services Group during the first quarter valued at approximately $11,745,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Healthcare Services Group by 54.7% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 181,169 shares of the business services provider's stock valued at $1,826,000 after acquiring an additional 64,042 shares during the last quarter. National Bank of Canada FI increased its position in shares of Healthcare Services Group by 13.3% during the first quarter. National Bank of Canada FI now owns 28,900 shares of the business services provider's stock valued at $291,000 after acquiring an additional 3,386 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Healthcare Services Group by 8.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 965,843 shares of the business services provider's stock valued at $9,736,000 after acquiring an additional 74,476 shares during the last quarter. 97.97% of the stock is owned by hedge funds and other institutional investors.

Healthcare Services Group Stock Performance

NASDAQ:HCSG traded up $0.11 during trading hours on Wednesday, reaching $15.58. The stock had a trading volume of 540,462 shares, compared to its average volume of 867,056. The stock has a 50 day simple moving average of $14.33 and a 200 day simple moving average of $12.84. Healthcare Services Group, Inc. has a 12-month low of $9.13 and a 12-month high of $15.89. The stock has a market cap of $1.13 billion, a P/E ratio of 111.29 and a beta of 0.54.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The business services provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.01. Healthcare Services Group had a return on equity of 11.74% and a net margin of 0.61%.The business had revenue of $458.50 million during the quarter, compared to the consensus estimate of $450.78 million. During the same period last year, the business posted $0.20 earnings per share. The business's revenue for the quarter was up 7.6% on a year-over-year basis. Healthcare Services Group has set its Q3 2025 guidance at EPS. On average, equities analysts expect that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Transactions at Healthcare Services Group

In other Healthcare Services Group news, EVP John Christopher Shea sold 21,368 shares of the firm's 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 completion of the sale, the executive vice president directly owned 32,976 shares of the company's stock, valued at $436,932. This trade represents a 39.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on HCSG shares. Wall Street Zen downgraded Healthcare Services Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Zacks Research raised Healthcare Services Group to a "strong-buy" rating in a research report on Tuesday, August 12th. Robert W. Baird increased their price target on Healthcare Services Group from $13.00 to $15.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Macquarie raised Healthcare Services Group from a "neutral" rating to an "outperform" rating and increased their price target for the company from $15.00 to $16.00 in a research report on Tuesday, July 29th. Finally, Benchmark increased their price target on Healthcare Services Group from $17.00 to $19.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $16.25.

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.