Short Interest in Healthcare Services Group, Inc. (NASDAQ:HCSG) Expands By 21.5%

Healthcare Services Group, Inc. (NASDAQ:HCSG) was the recipient of a significant growth in short interest in February. As of February 13th, there was short interest totaling 1,856,747 shares, a growth of 21.5% from the January 29th total of 1,528,208 shares. Based on an average daily volume of 972,141 shares, the days-to-cover ratio is currently 1.9 days. Currently, 2.7% of the shares of the stock are sold short. Currently, 2.7% of the shares of the stock are sold short. Based on an average daily volume of 972,141 shares, the days-to-cover ratio is currently 1.9 days.

Healthcare Services Group Price Performance

Shares of HCSG stock opened at $21.30 on Wednesday. Healthcare Services Group has a 1-year low of $9.13 and a 1-year high of $22.98. The firm has a market cap of $1.50 billion, a PE ratio of 25.98 and a beta of 0.73. The company has a 50-day moving average of $19.76 and a two-hundred day moving average of $18.08.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings data on Wednesday, February 11th. The business services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.21. The firm had revenue of $466.68 million during the quarter, compared to analysts’ expectations of $467.24 million. Healthcare Services Group had a net margin of 3.21% and a return on equity of 16.04%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the company posted $0.16 EPS. Sell-side analysts anticipate that Healthcare Services Group will post 0.74 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on HCSG. William Blair upgraded shares of Healthcare Services Group from a “market perform” rating to an “outperform” rating in a report on Friday, February 20th. Royal Bank Of Canada initiated coverage on Healthcare Services Group in a report on Tuesday. They issued a “sector perform” rating and a $22.00 price target for the company. BMO Capital Markets reiterated a “market perform” rating and set a $22.00 price objective on shares of Healthcare Services Group in a research report on Thursday, February 12th. UBS Group set a $25.00 target price on Healthcare Services Group and gave the company a “buy” rating in a report on Thursday, February 12th. Finally, Benchmark reiterated a “buy” rating on shares of Healthcare Services Group in a report on Thursday, February 12th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.00.

Insider Buying and Selling

In related news, EVP Patrick J. Orr sold 44,615 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $20.53, for a total value of $915,945.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Andrew M. Brophy sold 2,490 shares of Healthcare Services Group stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $21.75, for a total transaction of $54,157.50. Following the sale, the chief accounting officer directly owned 15,735 shares in the company, valued at approximately $342,236.25. This trade represents a 13.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 146,962 shares of company stock worth $3,014,100. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Healthcare Services Group

A number of hedge funds and other institutional investors have recently bought and sold shares of HCSG. Cetera Investment Advisers grew its position in Healthcare Services Group by 4.3% in the 4th quarter. Cetera Investment Advisers now owns 14,052 shares of the business services provider’s stock valued at $269,000 after acquiring an additional 581 shares in the last quarter. Trail Ridge Investment Advisors LLC grew its holdings in shares of Healthcare Services Group by 2.6% in the third quarter. Trail Ridge Investment Advisors LLC now owns 24,309 shares of the business services provider’s stock valued at $409,000 after purchasing an additional 609 shares in the last quarter. Amalgamated Bank increased its stake in Healthcare Services Group by 3.4% during the 3rd quarter. Amalgamated Bank now owns 21,563 shares of the business services provider’s stock worth $363,000 after buying an additional 719 shares during the period. Sanctuary Advisors LLC lifted its holdings in Healthcare Services Group by 3.8% during the 4th quarter. Sanctuary Advisors LLC now owns 20,151 shares of the business services provider’s stock worth $385,000 after buying an additional 738 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Healthcare Services Group by 29.7% in the 4th quarter. GAMMA Investing LLC now owns 3,688 shares of the business services provider’s stock valued at $71,000 after buying an additional 845 shares during the period. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

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.