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

Healthcare Services Group, Inc. (NASDAQ:HCSG - Get Free Report) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 2,950,000 shares, a decrease of 8.1% from the March 15th total of 3,210,000 shares. Based on an average daily volume of 525,800 shares, the days-to-cover ratio is currently 5.6 days. Approximately 4.0% of the company's stock are short sold.

Analysts Set New Price Targets

Several brokerages recently commented on HCSG. Royal Bank of Canada increased their target price on shares of Healthcare Services Group from $14.00 to $15.00 and gave the stock an "outperform" rating in a report on Thursday, February 15th. Benchmark increased their target price on shares of Healthcare Services Group from $16.00 to $17.00 and gave the stock a "buy" rating in a report on Thursday, February 15th. StockNews.com upgraded shares of Healthcare Services Group from a "sell" rating to a "hold" rating in a research note on Thursday, February 22nd. UBS Group increased their price target on shares of Healthcare Services Group from $11.00 to $13.00 and gave the company a "neutral" rating in a research note on Thursday, February 15th. Finally, Robert W. Baird increased their price target on shares of Healthcare Services Group from $10.00 to $13.00 and gave the company a "neutral" rating in a research note on Thursday, February 15th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Healthcare Services Group presently has an average rating of "Hold" and an average price target of $14.50.

Healthcare Services Group Stock Up 0.5 %

Shares of HCSG traded up $0.06 during trading hours on Tuesday, hitting $11.60. The company had a trading volume of 325,271 shares, compared to its average volume of 537,330. The firm has a market cap of $853.53 million, a price-to-earnings ratio of 21.77 and a beta of 0.49. The business has a fifty day moving average of $11.96 and a 200-day moving average of $10.66. Healthcare Services Group has a 12 month low of $8.75 and a 12 month high of $15.97.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The business services provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.04. The company had revenue of $423.80 million for the quarter, compared to analyst estimates of $424.57 million. Healthcare Services Group had a net margin of 2.30% and a return on equity of 10.81%. The company's revenue was up .0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 earnings per share. On average, equities analysts expect that Healthcare Services Group will post 0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Healthcare Services Group

A number of hedge funds have recently bought and sold shares of the business. Financial Management Professionals Inc. acquired a new stake in Healthcare Services Group during the first quarter worth about $55,000. Point72 Middle East FZE acquired a new stake in shares of Healthcare Services Group in the 4th quarter valued at approximately $63,000. PNC Financial Services Group Inc. boosted its stake in shares of Healthcare Services Group by 38.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,186 shares of the business services provider's stock valued at $64,000 after purchasing an additional 1,714 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Healthcare Services Group by 122.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,454 shares of the business services provider's stock valued at $66,000 after purchasing an additional 2,456 shares in the last quarter. Finally, State of Wyoming boosted its stake in shares of Healthcare Services Group by 33.4% in the 4th quarter. State of Wyoming now owns 6,436 shares of the business services provider's stock valued at $77,000 after purchasing an additional 1,611 shares in the last quarter. 97.97% of the stock is 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.

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