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

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HCSG. Benchmark restated a “buy” rating and issued a $18.00 target price on shares of Healthcare Services Group in a report on Tuesday, February 21st. Royal Bank of Canada upgraded shares of Healthcare Services Group from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $14.00 to $17.00 in a report on Thursday, February 16th. Credit Suisse Group upped their price objective on shares of Healthcare Services Group from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday, February 17th. Finally, StockNews.com assumed coverage on shares of Healthcare Services Group in a research report on Thursday. They issued a “hold” rating for the company.

Healthcare Services Group Trading Down 4.0 %

The stock’s 50-day simple moving average is $13.25 and its 200-day simple moving average is $13.24. The firm 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 issued its quarterly earnings data on Wednesday, February 15th. The business services provider reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.11. Healthcare Services Group had a net margin of 2.05% and a return on equity of 7.99%. The business had revenue of $424.00 million during the quarter, compared to the consensus estimate of $419.74 million. During the same period in the prior year, the firm posted $0.03 EPS. The firm’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities research analysts expect that Healthcare Services Group, Inc. will post 0.55 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Belpointe Asset Management LLC bought a new position in Healthcare Services Group in the 4th quarter worth approximately $34,000. CWM LLC boosted its holdings in Healthcare Services Group by 133.9% in the 4th quarter. CWM LLC now owns 3,132 shares of the business services provider’s stock worth $38,000 after buying an additional 1,793 shares during the period. Clearstead Advisors LLC bought a new position in Healthcare Services Group in the 2nd quarter worth approximately $52,000. Point72 Middle East FZE bought a new position in Healthcare Services Group in the 4th quarter worth approximately $63,000. Finally, State of Wyoming boosted its holdings in 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 worth $77,000 after buying an additional 1,611 shares during the period. 98.08% of the stock is 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.