Short Interest in Healthcare Services Group, Inc. (NASDAQ:HCSG) Decreases By 30.5%

Healthcare Services Group, Inc. (NASDAQ:HCSG) saw a significant decline in short interest in January. As of January 30th, there was short interest totaling 1,528,208 shares, a decline of 30.5% from the January 15th total of 2,198,756 shares. Currently, 2.2% of the shares of the company are short sold. Based on an average daily volume of 530,104 shares, the short-interest ratio is presently 2.9 days. Based on an average daily volume of 530,104 shares, the short-interest ratio is presently 2.9 days. Currently, 2.2% of the shares of the company are short sold.

Healthcare Services Group Stock Up 1.2%

NASDAQ HCSG traded up $0.25 during trading hours on Friday, reaching $21.59. The company’s stock had a trading volume of 695,466 shares, compared to its average volume of 722,895. Healthcare Services Group has a 1 year low of $9.13 and a 1 year high of $22.98. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 26.33 and a beta of 0.74. The firm’s 50-day moving average price is $19.26 and its 200-day moving average price is $17.43.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Miller Global Investments LLC bought a new stake in shares of Healthcare Services Group in the fourth quarter worth about $26,000. EverSource Wealth Advisors LLC grew its holdings in Healthcare Services Group by 163.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock valued at $33,000 after buying an additional 1,356 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Healthcare Services Group in the 4th quarter worth approximately $33,000. GAMMA Investing LLC raised its holdings in shares of Healthcare Services Group by 94.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,843 shares of the business services provider’s stock worth $48,000 after acquiring an additional 1,384 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Healthcare Services Group by 32.0% during the 4th quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock worth $69,000 after acquiring an additional 877 shares in the last quarter. Hedge funds and other institutional investors own 97.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on HCSG shares. Robert W. Baird set a $23.00 price target on Healthcare Services Group in a research report on Thursday. Wall Street Zen raised shares of Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a report on Saturday. UBS Group set a $25.00 target price on shares of Healthcare Services Group and gave the stock a “buy” rating in a research note on Thursday. BMO Capital Markets reiterated a “market perform” rating and issued a $22.00 price target on shares of Healthcare Services Group in a research report on Thursday. Finally, Benchmark reissued a “buy” rating on shares of Healthcare Services Group in a research note on Thursday. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Healthcare Services Group presently has an average rating of “Hold” and an average price target of $22.00.

About Healthcare Services Group

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.