Healthcare Services Group (NASDAQ:HCSG) Shares Down 7.4%

Healthcare Services Group, Inc. (NASDAQ:HCSG – Get Rating)’s share price was down 7.4% during mid-day trading on Friday . The stock traded as low as $12.30 and last traded at $12.33. Approximately 514,625 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 850,586 shares. The stock had previously closed at $13.31.

Analyst Ratings Changes

Several research analysts have issued reports on HCSG shares. Benchmark reaffirmed a “buy” rating and issued a $18.00 target price on shares of Healthcare Services Group in a report on Tuesday, February 21st. Credit Suisse Group boosted their price objective on shares of Healthcare Services Group from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Friday, February 17th. StockNews.com started coverage on shares of Healthcare Services Group in a report on Thursday. They set a “hold” rating for the company. Finally, Royal Bank of Canada raised shares of Healthcare Services Group from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $14.00 to $17.00 in a report on Thursday, February 16th.

Healthcare Services Group Price Performance

The firm’s 50-day moving average is $13.25 and its 200-day moving average is $13.24. The company has a market capitalization of $950.70 million, a P/E ratio of 27.78 and a beta of 0.37.

Healthcare Services Group (NASDAQ:HCSG – Get Rating) last announced its earnings results on Wednesday, February 15th. The business services provider reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.11. The company had revenue of $424.00 million during the quarter, compared to analyst estimates of $419.74 million. Healthcare Services Group had a net margin of 2.05% and a return on equity of 7.99%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 earnings per share. As a group, analysts forecast that Healthcare Services Group, Inc. will post 0.55 EPS for the current fiscal year.

Institutional Trading of Healthcare Services Group

Several large investors have recently added to or reduced their stakes in the business. Linden Thomas Advisory Services LLC bought a new stake in Healthcare Services Group during the fourth quarter valued at approximately $521,000. Point72 Middle East FZE bought a new position in shares of Healthcare Services Group in the fourth quarter worth approximately $63,000. State of Wyoming boosted its position in shares of Healthcare Services Group by 33.4% in the fourth quarter. State of Wyoming now owns 6,436 shares of the business services provider’s stock worth $77,000 after purchasing an additional 1,611 shares during the period. Toroso Investments LLC boosted its position in shares of Healthcare Services Group by 4.7% in the fourth quarter. Toroso Investments LLC now owns 35,549 shares of the business services provider’s stock worth $427,000 after purchasing an additional 1,581 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Healthcare Services Group by 1.5% in the fourth quarter. Legal & General Group Plc now owns 224,682 shares of the business services provider’s stock worth $2,696,000 after purchasing an additional 3,409 shares during the period. 98.08% of the stock is currently owned by institutional investors.

About Healthcare Services Group

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Healthcare Services Group, Inc engages in the provision of keeping, laundry, and dietary services to long-term care and related health care facilities. It operates through the following business segments: Housekeeping and Dietary. The Housekeeping segment consists of the management of the client’s housekeeping department, which is responsible for the cleaning, disinfecting, and sanitizing of patient rooms and common areas of a client facility, as well as the laundering and processing of the personal clothing belonging to the facility’s patients.