Allspring Global Investments Holdings LLC Increases Holdings in Healthcare Services Group, Inc. $HCSG

Allspring Global Investments Holdings LLC grew its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 38.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 345,332 shares of the business services provider’s stock after acquiring an additional 96,472 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Healthcare Services Group were worth $5,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of HCSG. CWM LLC increased its position in Healthcare Services Group by 113.7% during the third quarter. CWM LLC now owns 52,650 shares of the business services provider’s stock valued at $886,000 after acquiring an additional 28,016 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Healthcare Services Group by 94.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,843 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 1,384 shares during the period. Squarepoint Ops LLC increased its position in shares of Healthcare Services Group by 165.5% during the 2nd quarter. Squarepoint Ops LLC now owns 136,273 shares of the business services provider’s stock valued at $2,048,000 after purchasing an additional 84,941 shares during the last quarter. State of Wyoming purchased a new stake in shares of Healthcare Services Group during the 2nd quarter valued at about $236,000. Finally, Caxton Associates LLP bought a new position in shares of Healthcare Services Group in the 2nd quarter worth approximately $163,000. Institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Stock Performance

HCSG opened at $18.87 on Wednesday. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 34.95 and a beta of 0.71. The firm’s fifty day moving average is $18.54 and its 200 day moving average is $16.45. Healthcare Services Group, Inc. has a fifty-two week low of $9.13 and a fifty-two week high of $20.26.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings results on Wednesday, October 22nd. The business services provider reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. Healthcare Services Group had a return on equity of 12.23% and a net margin of 2.20%.The business had revenue of $464.34 million during the quarter, compared to analyst estimates of $460.36 million. During the same quarter in the prior year, the business posted $0.19 EPS. Healthcare Services Group’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities research analysts predict that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HCSG. Zacks Research lowered shares of Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Macquarie reiterated a “buy” rating on shares of Healthcare Services Group in a research note on Wednesday, November 26th. BMO Capital Markets assumed coverage on shares of Healthcare Services Group in a research report on Thursday, November 13th. They set a “market perform” rating and a $20.00 price objective for the company. Wall Street Zen cut Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 14th. Finally, Benchmark lifted their target price on Healthcare Services Group from $19.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.40.

Healthcare Services Group Profile

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.