Assenagon Asset Management S.A. Sells 297,125 Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG)

Assenagon Asset Management S.A. lessened its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 24.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 897,586 shares of the business services provider's stock after selling 297,125 shares during the period. Assenagon Asset Management S.A. owned approximately 1.22% of Healthcare Services Group worth $10,425,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. GAMMA Investing LLC lifted its position in Healthcare Services Group by 100.8% during the 4th quarter. GAMMA Investing LLC now owns 2,137 shares of the business services provider's stock worth $25,000 after buying an additional 1,073 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Healthcare Services Group by 804.0% in the third quarter. Farther Finance Advisors LLC now owns 2,730 shares of the business services provider's stock valued at $30,000 after purchasing an additional 2,428 shares in the last quarter. Financial Management Professionals Inc. grew its stake in shares of Healthcare Services Group by 85.7% in the third quarter. Financial Management Professionals Inc. now owns 8,180 shares of the business services provider's stock valued at $91,000 after buying an additional 3,774 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Healthcare Services Group by 1,017.5% in the 3rd quarter. International Assets Investment Management LLC now owns 10,292 shares of the business services provider's stock valued at $1,150,000 after acquiring an additional 9,371 shares during the period. Finally, Bleakley Financial Group LLC acquired a new stake in Healthcare Services Group in the 3rd quarter valued at about $116,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Robert W. Baird reduced their target price on shares of Healthcare Services Group from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, October 24th. Macquarie began coverage on shares of Healthcare Services Group in a research report on Monday, December 16th. They issued a "neutral" rating and a $13.00 target price for the company. Benchmark reissued a "buy" rating and set a $17.00 price target on shares of Healthcare Services Group in a research report on Thursday, December 19th. Finally, StockNews.com upgraded shares of Healthcare Services Group from a "hold" rating to a "buy" rating in a research note on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $13.80.

Healthcare Services Group Price Performance

Shares of NASDAQ:HCSG traded down $0.22 during midday trading on Friday, hitting $11.70. 291,831 shares of the company's stock were exchanged, compared to its average volume of 393,663. Healthcare Services Group, Inc. has a 12 month low of $8.98 and a 12 month high of $13.00. The company has a market cap of $857.49 million, a PE ratio of 16.96 and a beta of 0.56. The stock has a 50 day moving average price of $11.91 and a 200-day moving average price of $11.24.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. The firm had revenue of $428.10 million during the quarter, compared to analyst estimates of $429.95 million. Healthcare Services Group had a net margin of 2.95% and a return on equity of 12.59%. The business's revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.17 EPS. On average, analysts anticipate that Healthcare Services Group, Inc. will post 0.81 EPS for the current fiscal 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.