Allspring Global Investments Holdings LLC Purchases 82,217 Shares of Healthcare Services Group, Inc. $HCSG

Allspring Global Investments Holdings LLC lifted its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 49.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 248,860 shares of the business services provider’s stock after acquiring an additional 82,217 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Healthcare Services Group were worth $3,740,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. USA Financial Formulas bought a new stake in shares of Healthcare Services Group during the second quarter valued at approximately $60,000. US Bancorp DE boosted its position in shares of Healthcare Services Group by 161.4% during the first quarter. US Bancorp DE now owns 8,097 shares of the business services provider’s stock valued at $82,000 after purchasing an additional 5,000 shares in the last quarter. Martingale Asset Management L P bought a new stake in shares of Healthcare Services Group during the first quarter valued at approximately $127,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Healthcare Services Group by 45.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,592 shares of the business services provider’s stock valued at $147,000 after purchasing an additional 4,548 shares in the last quarter. Finally, MQS Management LLC bought a new stake in shares of Healthcare Services Group during the first quarter valued at approximately $173,000. 97.97% of the stock is currently owned by institutional investors.

Healthcare Services Group Price Performance

HCSG stock opened at $16.45 on Tuesday. Healthcare Services Group, Inc. has a 1-year low of $9.13 and a 1-year high of $16.91. The business has a fifty day moving average price of $15.87 and a 200-day moving average price of $14.33. The stock has a market capitalization of $1.19 billion, a P/E ratio of 117.50 and a beta of 0.70.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. Healthcare Services Group had a return on equity of 11.74% and a net margin of 0.61%.The firm had revenue of $458.50 million during the quarter, compared to analysts’ expectations of $450.78 million. During the same quarter in the previous year, the business earned $0.20 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. Healthcare Services Group has set its Q3 2025 guidance at EPS. As a group, analysts anticipate that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current year.

Insider Activity at Healthcare Services Group

In related news, EVP John Christopher Shea sold 21,368 shares of Healthcare Services Group stock in a transaction on Monday, July 28th. The stock was sold at an average price of $13.25, for a total value of $283,126.00. Following the completion of the sale, the executive vice president owned 32,976 shares of the company’s stock, valued at $436,932. The trade was a 39.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HCSG. Benchmark lifted their price target on Healthcare Services Group from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Zacks Research lowered Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Macquarie upgraded Healthcare Services Group from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $15.00 to $16.00 in a research report on Tuesday, July 29th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Healthcare Services Group in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 26th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Healthcare Services Group presently has an average rating of “Moderate Buy” and an average target price of $16.25.

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.