Healthcare Services Group, Inc. (NASDAQ:HCSG) Short Interest Up 14.2% in April

Healthcare Services Group, Inc. (NASDAQ:HCSG - Get Free Report) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 2,603,317 shares, a growth of 14.2% from the March 31st total of 2,279,628 shares. Based on an average daily trading volume, of 674,301 shares, the short-interest ratio is presently 3.9 days. Approximately 3.9% of the company's stock are short sold.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on HCSG shares. William Blair raised Healthcare Services Group from a "market perform" rating to an "outperform" rating in a research report on Friday, February 20th. Robert W. Baird set a $23.00 target price on Healthcare Services Group in a research report on Thursday, February 12th. BMO Capital Markets upped their target price on Healthcare Services Group from $22.00 to $24.00 and gave the stock a "market perform" rating in a research report on Thursday, April 23rd. Wall Street Zen raised Healthcare Services Group from a "hold" rating to a "buy" rating in a research report on Sunday, March 29th. Finally, UBS Group upped their target price on Healthcare Services Group from $25.00 to $27.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Healthcare Services Group currently has an average rating of "Hold" and a consensus price target of $24.00.

Insider Transactions at Healthcare Services Group

In other news, CAO Andrew M. Brophy sold 2,490 shares of the company's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $21.75, for a total value of $54,157.50. Following the completion of the sale, the chief accounting officer owned 15,735 shares of the company's stock, valued at $342,236.25. This represents a 13.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Christopher Shea sold 54,357 shares of the company's stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $20.41, for a total value of $1,109,426.37. Following the completion of the sale, the executive vice president directly owned 29,292 shares of the company's stock, valued at $597,849.72. The trade was a 64.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 146,962 shares of company stock valued at $3,014,100 over the last quarter. Company insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Synergy Asset Management LLC acquired a new stake in Healthcare Services Group during the third quarter valued at approximately $2,860,000. Allianz Asset Management GmbH raised its stake in Healthcare Services Group by 229.4% during the third quarter. Allianz Asset Management GmbH now owns 164,380 shares of the business services provider's stock valued at $2,767,000 after buying an additional 114,482 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Healthcare Services Group by 46.6% during the third quarter. JPMorgan Chase & Co. now owns 553,663 shares of the business services provider's stock valued at $9,318,000 after buying an additional 175,880 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Healthcare Services Group by 38.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 345,332 shares of the business services provider's stock valued at $5,812,000 after buying an additional 96,472 shares in the last quarter. Finally, Bailard Inc. acquired a new stake in Healthcare Services Group during the third quarter valued at approximately $655,000. Hedge funds and other institutional investors own 97.97% of the company's stock.

Healthcare Services Group Stock Performance

Shares of HCSG opened at $21.41 on Friday. The company has a market capitalization of $1.47 billion, a P/E ratio of 22.30 and a beta of 0.80. Healthcare Services Group has a one year low of $12.66 and a one year high of $24.39. The stock has a 50-day moving average price of $20.05 and a 200 day moving average price of $19.19.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.15. The firm had revenue of $462.77 million during the quarter, compared to the consensus estimate of $479.79 million. Healthcare Services Group had a return on equity of 17.81% and a net margin of 3.67%.Healthcare Services Group's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.23 earnings per share. As a group, equities research analysts forecast that Healthcare Services Group will post 0.94 earnings per share for the current fiscal year.

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.

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