Assenagon Asset Management S.A. Lowers Stake in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Assenagon Asset Management S.A. trimmed its position in Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 6.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,343,956 shares of the business services provider's stock after selling 85,500 shares during the period. Assenagon Asset Management S.A. owned about 1.82% of Healthcare Services Group worth $14,219,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Healthcare Services Group during the 2nd quarter worth $188,000. CWM LLC raised its position in Healthcare Services Group by 26.6% in the second quarter. CWM LLC now owns 15,641 shares of the business services provider's stock worth $165,000 after acquiring an additional 3,284 shares during the period. Invenomic Capital Management LP boosted its stake in Healthcare Services Group by 19.1% in the first quarter. Invenomic Capital Management LP now owns 484,237 shares of the business services provider's stock valued at $6,043,000 after acquiring an additional 77,649 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of 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 valued at $11,470,000 after acquiring an additional 886,230 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Healthcare Services Group by 8.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,830 shares of the business services provider's stock worth $498,000 after purchasing an additional 3,252 shares during the last quarter. Hedge funds and other institutional investors own 97.97% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. 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. Royal Bank of Canada dropped their price target on Healthcare Services Group from $15.00 to $14.00 and set an "outperform" rating on the stock in a research report on Thursday, July 25th. Finally, Benchmark reissued a "buy" rating and issued a $17.00 price objective on shares of Healthcare Services Group in a report 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $14.50.

Healthcare Services Group Price Performance

Shares of NASDAQ:HCSG traded up $0.05 during trading on Friday, hitting $10.67. 340,972 shares of the company were exchanged, compared to its average volume of 545,792. Healthcare Services Group, Inc. has a 52-week low of $8.75 and a 52-week high of $13.00. The stock has a 50 day moving average of $10.79 and a 200 day moving average of $11.22. The company has a market cap of $785.80 million, a PE ratio of 18.72 and a beta of 0.53.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.20 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.20. The business had revenue of $426.30 million for the quarter, compared to analysts' expectations of $424.94 million. Healthcare Services Group had a return on equity of 12.58% and a net margin of 1.82%. The firm's quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 EPS. Sell-side analysts forecast that Healthcare Services Group, Inc. will post 0.56 EPS for the current fiscal year.

Healthcare Services Group Profile

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.