Healthcare Services Group (NASDAQ:HCSG) Stock Price Down 4.4% – What’s Next?

Healthcare Services Group, Inc. (NASDAQ:HCSG) shares fell 4.4% on Wednesday . The company traded as low as $20.01 and last traded at $20.0160. 436,692 shares were traded during trading, a decline of 43% from the average session volume of 770,307 shares. The stock had previously closed at $20.93.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on HCSG shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Healthcare Services Group in a research report on Monday, December 29th. BMO Capital Markets reiterated a “market perform” rating and set a $22.00 price objective on shares of Healthcare Services Group in a research report on Thursday, February 12th. Robert W. Baird set a $23.00 target price on shares of Healthcare Services Group in a report on Thursday, February 12th. Macquarie Infrastructure reaffirmed a “buy” rating on shares of Healthcare Services Group in a research note on Wednesday, November 26th. Finally, UBS Group set a $25.00 price objective on shares of Healthcare Services Group and gave the company a “buy” rating in a research report on Thursday, February 12th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.00.

Healthcare Services Group Price Performance

The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 24.74 and a beta of 0.74. The firm’s 50-day moving average is $19.38 and its 200 day moving average is $17.61.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Wednesday, February 11th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.21. The company had revenue of $466.68 million during the quarter, compared to analysts’ expectations of $467.24 million. Healthcare Services Group had a net margin of 3.21% and a return on equity of 16.04%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 EPS. On average, sell-side analysts forecast that Healthcare Services Group, Inc. will post 0.74 EPS for the current year.

Institutional Trading of Healthcare Services Group

A number of institutional investors have recently modified their holdings of the company. Miller Global Investments LLC purchased a new stake in Healthcare Services Group during the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC raised its holdings in Healthcare Services Group by 163.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 1,356 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Healthcare Services Group during the 4th quarter valued at $33,000. GAMMA Investing LLC grew its holdings in Healthcare Services Group by 94.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,843 shares of the business services provider’s stock worth $48,000 after acquiring an additional 1,384 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Healthcare Services Group by 32.0% in the 4th quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock worth $69,000 after purchasing an additional 877 shares during the last quarter. Hedge funds and other institutional investors own 97.97% of the company’s stock.

About Healthcare Services Group

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.