Healthcare Services Group (NASDAQ:HCSG) Trading Down 6%

Healthcare Services Group, Inc. (NASDAQ:HCSG)’s share price was down 6% on Wednesday . The company traded as low as $10.58 and last traded at $10.58. Approximately 64,030 shares were traded during trading, a decline of 89% from the average daily volume of 559,135 shares. The stock had previously closed at $11.26.

Healthcare Services Group Stock Performance

The stock has a market cap of $780.69 million, a price-to-earnings ratio of 18.60 and a beta of 0.53. The stock’s 50-day simple moving average is $10.75 and its two-hundred day simple moving average is $11.02.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Wednesday, April 24th. The business services provider reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. The business had revenue of $423.40 million during the quarter, compared to analyst estimates of $424.91 million. Healthcare Services Group had a net margin of 2.44% and a return on equity of 11.44%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 earnings per share. As a group, research analysts predict that Healthcare Services Group, Inc. will post 0.8 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. National Bank of Canada FI raised its position in shares of Healthcare Services Group by 537.7% during the fourth quarter. National Bank of Canada FI now owns 134,625 shares of the business services provider’s stock valued at $1,432,000 after buying an additional 113,514 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Healthcare Services Group by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,599,981 shares of the business services provider’s stock valued at $16,592,000 after buying an additional 111,625 shares during the last quarter. Confluence Investment Management LLC acquired a new position in shares of Healthcare Services Group during the first quarter valued at about $2,259,000. Invenomic Capital Management LP bought a new stake in Healthcare Services Group in the fourth quarter valued at about $4,216,000. Finally, AQR Capital Management LLC increased its stake in Healthcare Services Group by 269.6% in the third quarter. AQR Capital Management LLC now owns 417,110 shares of the business services provider’s stock valued at $4,350,000 after acquiring an additional 304,258 shares during the period. Institutional investors and hedge funds own 97.97% of the company’s stock.

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.