Healthcare Services Group, Inc. (NASDAQ:HCSG) Stock Holdings Raised by Confluence Investment Management LLC

Confluence Investment Management LLC grew its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 168,841 shares of the business services provider’s stock after purchasing an additional 1,897 shares during the quarter. Confluence Investment Management LLC owned approximately 0.23% of Healthcare Services Group worth $1,961,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Farther Finance Advisors LLC raised its stake in Healthcare Services Group by 804.0% during the third quarter. Farther Finance Advisors LLC now owns 2,730 shares of the business services provider’s stock valued at $30,000 after buying an additional 2,428 shares in the last quarter. Headlands Technologies LLC boosted its holdings in Healthcare Services Group by 44.4% in the second quarter. Headlands Technologies LLC now owns 3,107 shares of the business services provider’s stock worth $33,000 after purchasing an additional 955 shares during the period. Financial Management Professionals Inc. boosted its holdings in shares of Healthcare Services Group by 85.7% in the 3rd 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 during the period. Bleakley Financial Group LLC bought a new position in Healthcare Services Group in the third quarter worth about $116,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Healthcare Services Group by 131.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 14,718 shares of the business services provider’s stock valued at $156,000 after acquiring an additional 8,359 shares during the period. Institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Stock Performance

NASDAQ:HCSG opened at $11.46 on Friday. The stock has a market cap of $839.91 million, a price-to-earnings ratio of 16.61 and a beta of 0.55. Healthcare Services Group, Inc. has a 1 year low of $8.98 and a 1 year high of $13.00. The business has a fifty day moving average of $11.81 and a 200-day moving average of $11.14.

Healthcare Services Group (NASDAQ:HCSG) last announced 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 2.95% and a return on equity of 12.59%. The firm had revenue of $428.10 million during the quarter, compared to analyst estimates of $429.95 million. During the same quarter in the prior year, the firm posted $0.17 EPS. Healthcare Services Group’s revenue was up 4.1% compared to the same quarter last year. On average, equities research analysts predict that Healthcare Services Group, Inc. will post 0.81 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HCSG. Robert W. Baird cut their price target on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Benchmark reissued a “buy” rating and set a $17.00 price target on shares of Healthcare Services Group in a report on Thursday, December 19th. StockNews.com cut shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a report on Saturday, December 14th. Finally, Macquarie started coverage on shares of Healthcare Services Group in a research note on Monday, December 16th. They set a “neutral” rating and a $13.00 target price for the company. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Healthcare Services Group has an average rating of “Hold” and an average target price of $13.80.

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.