Healthcare Services Group (NASDAQ:HCSG) Shares Down 4.4% – Here’s Why

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) traded down 4.4% during trading on Wednesday . The stock traded as low as $20.01 and last traded at $20.0160. 436,692 shares were traded during trading, a decline of 43% from the average session volume of 770,307 shares. The stock had previously closed at $20.93.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HCSG shares. UBS Group set a $25.00 price objective on Healthcare Services Group and gave the company a “buy” rating in a research note on Thursday, February 12th. Robert W. Baird set a $23.00 price target on Healthcare Services Group in a research report on Thursday, February 12th. BMO Capital Markets restated a “market perform” rating and set a $22.00 price objective on shares of Healthcare Services Group in a research note on Thursday, February 12th. Wall Street Zen raised shares of Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Benchmark reissued a “buy” rating on shares of Healthcare Services Group in a report on Thursday, February 12th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.00.

Healthcare Services Group Stock Down 3.1%

The firm’s 50-day moving average price is $19.38 and its 200 day moving average price is $17.61. The firm has a market cap of $1.43 billion, a P/E ratio of 24.74 and a beta of 0.74.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, February 11th. The business services provider reported $0.44 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $467.24 million. During the same quarter in the prior year, the firm earned $0.16 EPS. Healthcare Services Group’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities analysts predict that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HCSG. Miller Global Investments LLC bought a new stake in shares of Healthcare Services Group during the fourth quarter valued at about $26,000. EverSource Wealth Advisors LLC increased its stake 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 during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Healthcare Services Group during the 4th quarter worth about $33,000. GAMMA Investing LLC lifted its stake in shares of Healthcare Services Group by 94.9% in 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 during the period. Finally, Farther Finance Advisors LLC lifted its stake in shares of Healthcare Services Group by 32.0% in 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 during the period. Institutional investors own 97.97% of the company’s stock.

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.