Short Interest in Healthcare Services Group, Inc. (NASDAQ:HCSG) Expands By 14.5%

Healthcare Services Group, Inc. (NASDAQ:HCSG) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 2,760,000 shares, an increase of 14.5% from the November 30th total of 2,410,000 shares. Based on an average trading volume of 405,800 shares, the short-interest ratio is currently 6.8 days. Currently, 3.8% of the shares of the company are sold short.

Healthcare Services Group Stock Performance

HCSG remained flat at $11.52 on Monday. 231,744 shares of the company traded hands, compared to its average volume of 487,427. Healthcare Services Group has a 52 week low of $8.98 and a 52 week high of $13.00. The stock has a market cap of $844.31 million, a price-to-earnings ratio of 16.70 and a beta of 0.55. The stock’s 50 day simple moving average is $11.75 and its 200 day simple moving average is $11.12.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. The firm had revenue of $428.10 million during the quarter, compared to analyst estimates of $429.95 million. During the same period last year, the company earned $0.17 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. Research analysts anticipate that Healthcare Services Group will post 0.81 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on HCSG. Robert W. Baird reduced their target price on shares of Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Benchmark reissued a “buy” rating and set a $17.00 price objective on shares of Healthcare Services Group in a report on Thursday, December 19th. StockNews.com downgraded Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Saturday, December 14th. Finally, Macquarie initiated coverage on Healthcare Services Group in a research report on Monday, December 16th. They set a “neutral” rating and a $13.00 price target on the stock. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $13.80.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in HCSG. Allspring Global Investments Holdings LLC lifted its holdings in shares of Healthcare Services Group by 131.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 14,718 shares of the business services provider’s stock worth $156,000 after buying an additional 8,359 shares in the last quarter. Rhumbline Advisers lifted its stake in Healthcare Services Group by 4.2% in the 2nd quarter. Rhumbline Advisers now owns 240,592 shares of the business services provider’s stock worth $2,545,000 after purchasing an additional 9,590 shares in the last quarter. Foundry Partners LLC boosted its holdings in Healthcare Services Group by 59.9% in the 2nd quarter. Foundry Partners LLC now owns 432,730 shares of the business services provider’s stock valued at $4,578,000 after purchasing an additional 162,165 shares during the period. Headlands Technologies LLC grew its position in shares of Healthcare Services Group by 44.4% during the 2nd quarter. Headlands Technologies LLC now owns 3,107 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 955 shares in the last quarter. Finally, ClariVest Asset Management LLC increased its holdings in shares of Healthcare Services Group by 1.2% in the second quarter. ClariVest Asset Management LLC now owns 152,278 shares of the business services provider’s stock worth $1,611,000 after purchasing an additional 1,740 shares during the period. Institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Company Profile

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.