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 during the month of 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. Based on an average daily volume of 530,104 shares, the short-interest ratio is currently 2.9 days. Currently, 2.2% of the shares of the stock are short sold. Currently, 2.2% of the shares of the stock are short sold. Based on an average daily volume of 530,104 shares, the short-interest ratio is currently 2.9 days.

Hedge Funds Weigh In On Healthcare Services Group

Hedge funds have recently bought and sold shares of the business. Miller Global Investments LLC purchased a new stake in Healthcare Services Group in the fourth quarter worth $26,000. EverSource Wealth Advisors LLC grew its holdings in shares of Healthcare Services Group by 163.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock worth $33,000 after purchasing an additional 1,356 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Healthcare Services Group in the fourth quarter worth about $33,000. GAMMA Investing LLC increased its stake in 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 buying an additional 1,384 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in 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 valued at $69,000 after buying an additional 877 shares in the last quarter. Institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Stock Up 1.2%

NASDAQ:HCSG traded up $0.25 during mid-day trading on Friday, hitting $21.59. 695,466 shares of the stock traded hands, compared to its average volume of 722,895. Healthcare Services Group has a 52 week low of $9.13 and a 52 week high of $22.98. The stock 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 is $19.26 and its two-hundred day moving average is $17.43.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Wednesday, February 11th. The business services provider reported $0.44 earnings per share (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 business had revenue of $466.68 million during the quarter, compared to the consensus estimate of $467.24 million. During the same quarter last year, the firm earned $0.16 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, research analysts predict that Healthcare Services Group will post 0.74 EPS for the current year.

Analysts Set New Price Targets

HCSG has been the subject of several research reports. Macquarie Infrastructure reiterated a “buy” rating on shares of Healthcare Services Group in a research report on Wednesday, November 26th. Benchmark reaffirmed a “buy” rating on shares of Healthcare Services Group in a report on Thursday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Healthcare Services Group in a research report on Monday, December 29th. UBS Group set a $25.00 price objective on Healthcare Services Group and gave the stock a “buy” rating in a research note on Thursday. Finally, Robert W. Baird set a $23.00 price objective on Healthcare Services Group in a research note on Thursday. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.