Connor Clark & Lunn Investment Management Ltd. Raises Stake in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Connor Clark & Lunn Investment Management Ltd. increased its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 47.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,127 shares of the business services provider’s stock after buying an additional 37,767 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.16% of Healthcare Services Group worth $1,360,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Wealthfront Advisers LLC acquired a new position in Healthcare Services Group in the 4th quarter valued at $166,278,000. State Street Corp lifted its position in Healthcare Services Group by 8.3% during the third quarter. State Street Corp now owns 2,964,325 shares of the business services provider’s stock worth $33,112,000 after buying an additional 226,818 shares during the period. Geode Capital Management LLC grew its holdings in Healthcare Services Group by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,760,971 shares of the business services provider’s stock valued at $19,674,000 after purchasing an additional 50,375 shares during the period. Cerity Partners LLC purchased a new stake in shares of Healthcare Services Group during the 3rd quarter valued at $9,166,000. Finally, Foundry Partners LLC grew its position in Healthcare Services Group by 86.5% during 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 period. Hedge funds and other institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Price Performance

Shares of Healthcare Services Group stock opened at $10.93 on Thursday. Healthcare Services Group, Inc. has a 1-year low of $9.70 and a 1-year high of $12.99. The company has a market capitalization of $803.22 million, a PE ratio of 20.24 and a beta of 0.66. The business has a 50-day moving average of $11.01 and a 200-day moving average of $11.23.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Wednesday, February 12th. The business services provider reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.04). Healthcare Services Group had a net margin of 2.30% and a return on equity of 11.76%. On average, equities analysts expect that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HCSG has been the subject of several research reports. Macquarie began coverage on shares of Healthcare Services Group in a research note on Monday, December 16th. They set a “neutral” rating and a $13.00 price objective for the company. StockNews.com downgraded Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Benchmark reiterated a “buy” rating and set a $17.00 target price on shares of Healthcare Services Group in a report on Thursday, December 19th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $14.00.

Healthcare Services Group 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.