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

Healthcare Services Group, Inc. (NASDAQ:HCSG) was the recipient of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 2,410,000 shares, a growth of 5.7% from the November 15th total of 2,280,000 shares. Currently, 3.3% of the company’s shares are sold short. Based on an average trading volume of 398,800 shares, the days-to-cover ratio is presently 6.0 days.

Analyst Ratings Changes

A number of research firms have recently weighed in on HCSG. StockNews.com lowered shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a report on Saturday. Benchmark reiterated a “buy” rating and issued a $17.00 price objective on shares of Healthcare Services Group in a research report on Thursday, October 24th. Finally, Robert W. Baird reduced their target price on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $14.00.

Healthcare Services Group Price Performance

HCSG stock opened at $12.54 on Monday. The firm has a 50-day moving average of $11.48 and a 200 day moving average of $11.04. The company has a market cap of $919.07 million, a P/E ratio of 18.17 and a beta of 0.55. Healthcare Services Group has a 1 year low of $8.98 and a 1 year high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Wednesday, October 23rd. The business services provider reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $428.10 million during the quarter, compared to analysts’ expectations of $429.95 million. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS. On average, equities research analysts expect that Healthcare Services Group will post 0.81 earnings per share for the current fiscal year.

Institutional Trading of Healthcare Services Group

A number of hedge funds have recently modified their holdings of the business. Foundry Partners LLC lifted its position in Healthcare Services Group by 86.5% during the 3rd quarter. Foundry Partners LLC now owns 807,031 shares of the business services provider’s stock valued at $9,015,000 after acquiring an additional 374,301 shares during the period. Azarias Capital Management L.P. increased its stake in shares of Healthcare Services Group by 50.7% during the second quarter. Azarias Capital Management L.P. now owns 1,226,773 shares of the business services provider’s stock valued at $12,979,000 after purchasing an additional 412,704 shares in the last quarter. Brandes Investment Partners LP lifted its holdings in shares of Healthcare Services Group by 12.2% during the second quarter. Brandes Investment Partners LP now owns 1,318,045 shares of the business services provider’s stock valued at $13,983,000 after purchasing an additional 142,997 shares during the last quarter. Royce & Associates LP boosted its position in shares of Healthcare Services Group by 7.0% in the 3rd quarter. Royce & Associates LP now owns 4,449,496 shares of the business services provider’s stock worth $49,701,000 after purchasing an additional 290,621 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Healthcare Services Group by 9.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,057,202 shares of the business services provider’s stock worth $21,766,000 after buying an additional 181,231 shares during the last quarter. Institutional investors 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.