Healthcare Services Group (NASDAQ:HCSG) Sets New 12-Month Low – Here’s Why

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $9.64 and last traded at $9.75, with a volume of 25491 shares traded. The stock had previously closed at $10.07.

Analyst Ratings Changes

Several research firms recently commented on HCSG. StockNews.com cut Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Benchmark reissued a “buy” rating and set a $17.00 price objective on shares of Healthcare Services Group in a research note on Thursday, December 19th. Finally, Macquarie initiated coverage on shares of Healthcare Services Group in a research note on Monday, December 16th. They issued a “neutral” rating and a $13.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Healthcare Services Group has an average rating of “Hold” and an average price target of $14.00.

Healthcare Services Group Stock Down 2.3 %

The company has a market cap of $723.27 million, a P/E ratio of 18.24 and a beta of 0.62. The business has a fifty day moving average of $10.69 and a 200 day moving average of $11.18.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Wednesday, February 12th. The business services provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.04). Healthcare Services Group had a return on equity of 11.76% and a net margin of 2.30%. On average, sell-side analysts anticipate that Healthcare Services Group, Inc. will post 0.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Healthcare Services Group

Several institutional investors have recently modified their holdings of HCSG. GAMMA Investing LLC boosted its holdings in shares of Healthcare Services Group by 100.8% in the fourth quarter. GAMMA Investing LLC now owns 2,137 shares of the business services provider’s stock worth $25,000 after buying an additional 1,073 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Healthcare Services Group by 1.7% in the 3rd quarter. Tidal Investments LLC now owns 78,218 shares of the business services provider’s stock worth $874,000 after purchasing an additional 1,276 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Healthcare Services Group by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,880 shares of the business services provider’s stock worth $486,000 after purchasing an additional 1,461 shares during the period. Confluence Investment Management LLC increased its position in Healthcare Services Group by 1.1% in the fourth quarter. Confluence Investment Management LLC now owns 168,841 shares of the business services provider’s stock worth $1,961,000 after buying an additional 1,897 shares in the last quarter. Finally, Sterling Capital Management LLC grew its stake in shares of Healthcare Services Group by 803.4% during the 4th quarter. Sterling Capital Management LLC now owns 2,358 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 2,097 shares during the period. 97.97% of the stock is owned by hedge funds and other institutional investors.

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.