Assenagon Asset Management S.A. Has $10.43 Million Stock Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Assenagon Asset Management S.A. trimmed its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 24.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 897,586 shares of the business services provider’s stock after selling 297,125 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Healthcare Services Group were worth $10,425,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cerity Partners LLC acquired a new stake in shares of Healthcare Services Group in the 3rd quarter valued at approximately $9,166,000. Foundry Partners LLC lifted its stake in Healthcare Services Group by 86.5% in the third quarter. Foundry Partners LLC now owns 807,031 shares of the business services provider’s stock valued at $9,015,000 after acquiring an additional 374,301 shares during the last quarter. Royce & Associates LP grew its position in shares of Healthcare Services Group by 7.0% in the 3rd quarter. Royce & Associates LP now owns 4,449,496 shares of the business services provider’s stock valued at $49,701,000 after acquiring an additional 290,621 shares during the period. Invenomic Capital Management LP acquired a new position in shares of Healthcare Services Group during the 3rd quarter worth about $3,217,000. Finally, State Street Corp raised its holdings in shares of Healthcare Services Group by 8.3% in the 3rd quarter. State Street Corp now owns 2,964,325 shares of the business services provider’s stock valued at $33,112,000 after purchasing an additional 226,818 shares during the period. Institutional investors and hedge funds own 97.97% of the company’s stock.

Healthcare Services Group Stock Performance

HCSG opened at $11.70 on Friday. The stock has a fifty day moving average of $11.91 and a 200-day moving average of $11.24. The company has a market capitalization of $857.49 million, a P/E ratio of 16.96 and a beta of 0.56. Healthcare Services Group, Inc. has a fifty-two week low of $8.98 and a fifty-two week high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $428.10 million during the quarter, compared to analysts’ expectations of $429.95 million. During the same quarter in the previous year, the company earned $0.17 EPS. The business’s revenue was up 4.1% on a year-over-year basis. On average, equities research analysts predict that Healthcare Services Group, Inc. will post 0.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on HCSG. StockNews.com raised Healthcare Services Group from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Macquarie began coverage on Healthcare Services Group in a research note on Monday, December 16th. They issued a “neutral” rating and a $13.00 price target on the stock. Robert W. Baird cut their price target on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Finally, Benchmark reiterated a “buy” rating and issued a $17.00 price objective on shares of Healthcare Services Group in a report on Thursday, December 19th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” 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.