Assenagon Asset Management S.A. Sells 297,125 Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG)

Assenagon Asset Management S.A. decreased its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 24.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 897,586 shares of the business services provider’s stock after selling 297,125 shares during the quarter. Assenagon Asset Management S.A. owned about 1.22% of Healthcare Services Group worth $10,425,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of HCSG. Cerity Partners LLC acquired a new position in Healthcare Services Group in the third quarter valued at about $9,166,000. Foundry Partners LLC grew its position in shares of Healthcare Services Group by 86.5% during the 3rd quarter. Foundry Partners LLC now owns 807,031 shares of the business services provider’s stock worth $9,015,000 after buying an additional 374,301 shares during the period. Royce & Associates LP increased its stake 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 last quarter. Invenomic Capital Management LP acquired a new stake in shares of Healthcare Services Group in the 3rd quarter valued at approximately $3,217,000. Finally, State Street Corp boosted its stake in Healthcare Services Group by 8.3% during the 3rd quarter. State Street Corp now owns 2,964,325 shares of the business services provider’s stock worth $33,112,000 after acquiring an additional 226,818 shares during the last quarter. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Healthcare Services Group Trading Down 1.8 %

HCSG stock opened at $11.70 on Friday. The stock has a 50-day moving average price of $11.91 and a two-hundred day moving average price of $11.24. Healthcare Services Group, Inc. has a 1 year low of $8.98 and a 1 year high of $13.00. The stock has a market cap of $857.49 million, a PE ratio of 16.96 and a beta of 0.56.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. The business had revenue of $428.10 million during the quarter, compared to the consensus estimate of $429.95 million. During the same period last year, the company earned $0.17 earnings per share. Healthcare Services Group’s quarterly revenue was up 4.1% on a year-over-year basis. On average, analysts forecast that Healthcare Services Group, Inc. will post 0.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on HCSG shares. Macquarie assumed coverage on shares of Healthcare Services Group in a research note on Monday, December 16th. They issued a “neutral” rating and a $13.00 target price for the company. Benchmark restated a “buy” rating and issued a $17.00 price objective on shares of Healthcare Services Group in a research report on Thursday, December 19th. StockNews.com upgraded Healthcare Services Group from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Finally, Robert W. Baird lowered 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.