Healthcare Services Group (NASDAQ:HCSG) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Healthcare Services Group, Inc. (NASDAQ:HCSG) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $11.28 and traded as high as $11.42. Healthcare Services Group shares last traded at $11.36, with a volume of 448,063 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on HCSG shares. Benchmark reissued a “buy” rating and issued a $17.00 price objective on shares of Healthcare Services Group in a report on Thursday, December 19th. Macquarie began coverage on shares of Healthcare Services Group in a research note on Monday, December 16th. They issued a “neutral” rating and a $13.00 price target for the company. 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. Finally, StockNews.com lowered Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.80.

Healthcare Services Group Stock Performance

The stock’s 50-day moving average is $11.86 and its two-hundred day moving average is $11.28. The stock has a market cap of $832.57 million, a PE ratio of 16.46 and a beta of 0.56.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Royce & Associates LP lifted its stake in Healthcare Services Group by 7.0% during the 3rd quarter. Royce & Associates LP now owns 4,449,496 shares of the business services provider’s stock worth $49,701,000 after acquiring an additional 290,621 shares in the last quarter. State Street Corp increased its stake in Healthcare Services Group by 8.3% during the third quarter. State Street Corp now owns 2,964,325 shares of the business services provider’s stock worth $33,112,000 after purchasing an additional 226,818 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Healthcare Services Group by 9.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,057,202 shares of the business services provider’s stock worth $21,766,000 after purchasing an additional 181,231 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Healthcare Services Group by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,760,971 shares of the business services provider’s stock valued at $19,674,000 after purchasing an additional 50,375 shares during the period. Finally, Cerity Partners LLC acquired a new position in shares of Healthcare Services Group in the third quarter valued at approximately $9,166,000. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

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.