Connors Investor Services Inc. Reduces Stock Holdings 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% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,825 shares of the business services provider’s stock after selling 9,627 shares during the period. Connors Investor Services Inc. owned approximately 0.32% of Healthcare Services Group worth $2,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Healthcare Services Group by 9.7% in the second 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 during the last quarter. WINTON GROUP Ltd boosted its position in Healthcare Services Group by 12.2% in the 2nd quarter. WINTON GROUP Ltd now owns 91,975 shares of the business services provider’s stock worth $973,000 after purchasing an additional 10,001 shares in the last quarter. Stoneridge Investment Partners LLC acquired a new stake in shares of Healthcare Services Group during the 2nd quarter worth approximately $220,000. American Century Companies Inc. increased its holdings in shares of Healthcare Services Group by 13.4% during the 2nd quarter. American Century Companies Inc. now owns 121,252 shares of the business services provider’s stock valued at $1,283,000 after purchasing an additional 14,303 shares in the last quarter. Finally, ClariVest Asset Management LLC lifted its stake in shares of Healthcare Services Group by 1.2% in the 2nd quarter. ClariVest Asset Management LLC now owns 152,278 shares of the business services provider’s stock valued at $1,611,000 after purchasing an additional 1,740 shares during the period. 97.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HCSG. Robert W. Baird lifted their price objective on shares of Healthcare Services Group from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Benchmark reiterated a “buy” rating and set a $17.00 price target on shares of Healthcare Services Group in a research report on Thursday, July 25th. Finally, Royal Bank of Canada cut their price objective on Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating for the company in a research 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 stock. Based on data from MarketBeat, Healthcare Services Group has a consensus rating of “Hold” and a consensus price target of $14.50.

Healthcare Services Group Trading Up 1.1 %

NASDAQ:HCSG opened at $11.26 on Tuesday. The company has a market cap of $829.25 million, a P/E ratio of 19.75 and a beta of 0.53. Healthcare Services Group, Inc. has a twelve month low of $8.75 and a twelve month high of $13.00. The company’s 50-day moving average price is $10.92 and its 200-day moving average price is $11.21.

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

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.