Connors Investor Services Inc. Cuts Stock Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Connors Investor Services Inc. lessened its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 3.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 238,825 shares of the business services provider’s stock after selling 9,627 shares during the quarter. Connors Investor Services Inc.’s holdings in Healthcare Services Group were worth $2,527,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of HCSG. Mirae Asset Global Investments Co. Ltd. grew its holdings in Healthcare Services Group by 2,692.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 979,748 shares of the business services provider’s stock worth $13,178,000 after acquiring an additional 944,658 shares in the last quarter. Janus Henderson Group PLC grew its stake in Healthcare Services Group by 2,698.7% during the 1st quarter. Janus Henderson Group PLC now owns 919,069 shares of the business services provider’s stock worth $11,470,000 after buying an additional 886,230 shares during the last quarter. Azarias Capital Management L.P. lifted its stake in Healthcare Services Group by 50.7% in the second quarter. Azarias Capital Management L.P. now owns 1,226,773 shares of the business services provider’s stock valued at $12,979,000 after buying an additional 412,704 shares during the last quarter. Invenomic Capital Management LP purchased a new position in shares of Healthcare Services Group during the fourth quarter worth approximately $4,216,000. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Healthcare Services Group in the 1st quarter valued at $3,765,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

Healthcare Services Group Stock Up 1.1 %

NASDAQ HCSG opened at $11.26 on Tuesday. Healthcare Services Group, Inc. has a 52-week low of $8.75 and a 52-week high of $13.00. The firm has a 50-day moving average price of $10.92 and a 200 day moving average price of $11.21. The stock has a market capitalization of $829.25 million, a P/E ratio of 19.75 and a beta of 0.53.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.20. The firm had revenue of $426.30 million for the quarter, compared to the consensus estimate of $424.94 million. Healthcare Services Group had a return on equity of 12.58% and a net margin of 1.82%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.12 earnings per share. On average, equities research analysts expect that Healthcare Services Group, Inc. will post 0.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on HCSG shares. Benchmark reissued a “buy” rating and set a $17.00 price objective on shares of Healthcare Services Group in a research report on Thursday, July 25th. Royal Bank of Canada lowered their price target on Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Finally, Robert W. Baird upped their price objective on Healthcare Services Group from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.50.

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.