Healthcare Services Group, Inc. (NASDAQ:HCSG) Sees Significant Increase in Short Interest

Healthcare Services Group, Inc. (NASDAQ:HCSG) saw a significant growth in short interest in February. As of February 13th, there was short interest totaling 1,856,747 shares, a growth of 21.5% from the January 29th total of 1,528,208 shares. Based on an average daily volume of 972,141 shares, the short-interest ratio is presently 1.9 days. Approximately 2.7% of the company’s shares are sold short. Approximately 2.7% of the company’s shares are sold short. Based on an average daily volume of 972,141 shares, the short-interest ratio is presently 1.9 days.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Robert W. Baird set a $23.00 price target on shares of Healthcare Services Group in a research report on Thursday, February 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Healthcare Services Group in a report on Monday, December 29th. William Blair raised shares of Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research report on Friday, February 20th. UBS Group set a $25.00 price objective on Healthcare Services Group and gave the stock a “buy” rating in a research report on Thursday, February 12th. Finally, Wall Street Zen cut Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 22nd. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $22.00.

Insider Transactions at Healthcare Services Group

In related news, CAO Andrew M. Brophy sold 2,490 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $21.75, for a total transaction of $54,157.50. Following the transaction, the chief accounting officer owned 15,735 shares of the company’s stock, valued at approximately $342,236.25. This represents a 13.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Christopher Shea sold 54,357 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $20.41, for a total value of $1,109,426.37. Following the transaction, the executive vice president owned 29,292 shares of the company’s stock, valued at $597,849.72. This trade represents a 64.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 146,962 shares of company stock worth $3,014,100 over the last ninety days. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Healthcare Services Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. 8 Knots Management LLC acquired a new stake in Healthcare Services Group during the third quarter worth approximately $56,527,000. Arrowstreet Capital Limited Partnership grew its position in shares of Healthcare Services Group by 240.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,496,835 shares of the business services provider’s stock valued at $22,497,000 after buying an additional 1,056,705 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Healthcare Services Group by 80.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,981,840 shares of the business services provider’s stock valued at $33,354,000 after buying an additional 882,213 shares during the last quarter. American Century Companies Inc. raised its stake in Healthcare Services Group by 183.0% during the 2nd quarter. American Century Companies Inc. now owns 1,278,993 shares of the business services provider’s stock worth $19,223,000 after acquiring an additional 827,057 shares in the last quarter. Finally, CSM Advisors LLC purchased a new stake in Healthcare Services Group in the second quarter valued at $8,864,000. 97.97% of the stock is owned by institutional investors and hedge funds.

Healthcare Services Group Trading Up 0.0%

Healthcare Services Group stock opened at $21.31 on Thursday. The company has a fifty day simple moving average of $19.79 and a 200-day simple moving average of $18.10. The stock has a market cap of $1.50 billion, a P/E ratio of 25.99 and a beta of 0.73. Healthcare Services Group has a 12-month low of $9.13 and a 12-month high of $22.98.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, February 11th. The business services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.23 by $0.21. The firm had revenue of $466.68 million for the quarter, compared to analyst estimates of $467.24 million. Healthcare Services Group had a return on equity of 16.04% and a net margin of 3.21%.Healthcare Services Group’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.16 earnings per share. As a group, sell-side analysts forecast that Healthcare Services Group will post 0.74 earnings per share for the current fiscal year.

Healthcare Services Group Company Profile

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.