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

Assenagon Asset Management S.A. decreased its position in Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 11.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,194,711 shares of the business services provider's stock after selling 149,245 shares during the quarter. Assenagon Asset Management S.A. owned approximately 1.62% of Healthcare Services Group worth $13,345,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Healthcare Services Group by 2,692.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 979,748 shares of the business services provider's stock worth $13,178,000 after purchasing an additional 944,658 shares during the period. Janus Henderson Group PLC lifted its stake 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 buying an additional 886,230 shares in the last quarter. Azarias Capital Management L.P. boosted its holdings in Healthcare Services Group by 50.7% in the 2nd quarter. Azarias Capital Management L.P. now owns 1,226,773 shares of the business services provider's stock worth $12,979,000 after buying an additional 412,704 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in Healthcare Services Group in the 1st quarter worth $3,765,000. Finally, Dimensional Fund Advisors LP increased its stake in Healthcare Services Group by 9.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,057,202 shares of the business services provider's stock worth $21,766,000 after buying an additional 181,231 shares in the last quarter. 97.97% of the stock is owned by hedge funds and other institutional investors.

Healthcare Services Group Price Performance

Shares of HCSG traded up $0.21 during mid-day trading on Monday, reaching $10.95. 364,753 shares of the company's stock traded hands, compared to its average volume of 502,730. The stock's 50-day moving average is $10.72 and its two-hundred day moving average is $10.86. Healthcare Services Group, Inc. has a 12 month low of $8.98 and a 12 month high of $13.00. The stock has a market cap of $803.51 million, a P/E ratio of 25.47 and a beta of 0.52.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.03. Healthcare Services Group had a net margin of 1.82% and a return on equity of 12.58%. The firm had revenue of $428.10 million during the quarter, compared to analyst estimates of $429.95 million. During the same period in the previous year, the firm earned $0.17 earnings per share. The business's revenue was up 4.1% on a year-over-year basis. Research analysts predict that Healthcare Services Group, Inc. will post 0.78 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HCSG. Benchmark reiterated a "buy" rating and issued a $17.00 price target on shares of Healthcare Services Group in a report on Thursday. Robert W. Baird reduced their target price on Healthcare Services Group from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday. Finally, Royal Bank of Canada dropped their price target on Healthcare Services Group from $15.00 to $14.00 and set an "outperform" rating for the company in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Healthcare Services Group presently has a consensus rating of "Hold" and a consensus target price of $14.00.

Healthcare Services Group Company 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.