Short Interest in Healthcare Services Group, Inc. (NASDAQ:HCSG) Decreases By 5.7%

Healthcare Services Group, Inc. (NASDAQ:HCSG) was the target of a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 2,800,000 shares, a drop of 5.7% from the January 15th total of 2,970,000 shares. Based on an average daily volume of 407,300 shares, the days-to-cover ratio is presently 6.9 days. Currently, 3.9% of the shares of the stock are sold short.

Healthcare Services Group Trading Down 2.2 %

Shares of NASDAQ HCSG opened at $10.60 on Wednesday. The stock has a market cap of $776.87 million, a price-to-earnings ratio of 15.36 and a beta of 0.56. Healthcare Services Group has a 1-year low of $9.70 and a 1-year high of $13.00. The stock’s 50-day moving average is $11.52 and its 200 day moving average is $11.23.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Wednesday, February 12th. The business services provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.04). Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. On average, analysts forecast that Healthcare Services Group will post 0.81 EPS for the current fiscal year.

Analyst Ratings Changes

HCSG has been the subject of a number of research analyst reports. Benchmark reiterated a “buy” rating and set a $17.00 price target on shares of Healthcare Services Group in a research report on Thursday, December 19th. Macquarie initiated coverage on Healthcare Services Group in a research report on Monday, December 16th. They set a “neutral” rating and a $13.00 price target for the company. Robert W. Baird dropped their price target on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Finally, StockNews.com downgraded Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Healthcare Services Group presently has an average rating of “Hold” and a consensus price target of $14.00.

Institutional Investors Weigh In On Healthcare Services Group

A number of large investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in Healthcare Services Group by 100.8% in the fourth quarter. GAMMA Investing LLC now owns 2,137 shares of the business services provider’s stock worth $25,000 after acquiring an additional 1,073 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Healthcare Services Group in the fourth quarter worth $25,000. Sterling Capital Management LLC boosted its holdings in Healthcare Services Group by 803.4% in the fourth quarter. Sterling Capital Management LLC now owns 2,358 shares of the business services provider’s stock worth $27,000 after acquiring an additional 2,097 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Healthcare Services Group by 804.0% in the third quarter. Farther Finance Advisors LLC now owns 2,730 shares of the business services provider’s stock worth $30,000 after acquiring an additional 2,428 shares in the last quarter. Finally, Financial Management Professionals Inc. boosted its holdings in Healthcare Services Group by 85.7% in the third quarter. Financial Management Professionals Inc. now owns 8,180 shares of the business services provider’s stock worth $91,000 after acquiring an additional 3,774 shares in the last quarter. 97.97% of the stock is currently owned by institutional investors.

About Healthcare Services Group

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.