By otakuyassine3@gmail.com 
Healthcare Services Group, Inc. (NASDAQ:HCSG – Get Free Report) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 3,030,000 shares, an increase of 9.8% from the December 15th total of 2,760,000 shares. Approximately 4.2% of the company’s shares are short sold. Based on an average trading volume of 400,600 shares, the days-to-cover ratio is currently 7.6 days.
Healthcare Services Group Stock Down 1.8 %
Shares of NASDAQ:HCSG traded down $0.22 during midday trading on Friday, reaching $11.70. 291,831 shares of the company were exchanged, compared to its average volume of 393,663. Healthcare Services Group has a fifty-two week low of $8.98 and a fifty-two week high of $13.00. The stock has a fifty day simple moving average of $11.91 and a two-hundred day simple moving average of $11.24. The firm 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 – Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $0.19 EPS for the quarter, topping 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 business had revenue of $428.10 million for the quarter, compared to analyst estimates of $429.95 million. During the same period last year, the business posted $0.17 earnings per share. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, analysts forecast that Healthcare Services Group will post 0.81 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on HCSG shares. Benchmark reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Healthcare Services Group in a research note on Thursday, December 19th. Macquarie started coverage on shares of Healthcare Services Group in a research report on Monday, December 16th. They set a “neutral” rating and a $13.00 price target on the stock. StockNews.com raised shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Robert W. Baird reduced their price target on shares of Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $13.80.
View Our Latest Research Report on HCSG
Institutional Investors Weigh In On Healthcare Services Group
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royce & Associates LP increased its stake in 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 buying an additional 290,621 shares during the last quarter. State Street Corp increased its stake in 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 buying an additional 226,818 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Healthcare Services Group by 9.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,057,202 shares of the business services provider’s stock valued at $21,766,000 after buying an additional 181,231 shares during the last quarter. Geode Capital Management LLC increased its stake in Healthcare Services Group by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,760,971 shares of the business services provider’s stock valued at $19,674,000 after buying an additional 50,375 shares during the last quarter. Finally, Brandes Investment Partners LP increased its stake in Healthcare Services Group by 12.2% in the 2nd quarter. Brandes Investment Partners LP now owns 1,318,045 shares of the business services provider’s stock valued at $13,983,000 after buying an additional 142,997 shares during the last quarter. 97.97% of the stock is currently owned by institutional investors and hedge funds.
Healthcare Services Group Company 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.
Featured Stories
Receive News & Ratings for Healthcare Services Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Healthcare Services Group and related companies with MarketBeat.com’s FREE daily email newsletter.