Short Interest in Healthcare Services Group, Inc. (HCSG) Rises By 16.8%

Healthcare Services Group, Inc. (NASDAQ:HCSG) saw a significant growth in short interest in April. As of April 30th, there was short interest totalling 11,070,399 shares, a growth of 16.8% from the April 13th total of 9,480,081 shares. Based on an average daily trading volume, of 1,887,605 shares, the short-interest ratio is presently 5.9 days. Approximately 15.5% of the shares of the stock are sold short.

Several equities analysts recently weighed in on HCSG shares. BidaskClub raised shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a research report on Friday, January 26th. Zacks Investment Research raised shares of Healthcare Services Group from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Tuesday, February 6th. Robert W. Baird cut shares of Healthcare Services Group from an “outperform” rating to a “neutral” rating and set a $52.00 target price on the stock. in a research report on Wednesday, February 7th. Stifel Nicolaus cut shares of Healthcare Services Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $57.00 to $44.00 in a research report on Wednesday, April 18th. Finally, Credit Suisse Group decreased their price target on shares of Healthcare Services Group from $62.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, April 18th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $45.60.

Healthcare Services Group stock opened at $37.08 on Friday. Healthcare Services Group has a 1-year low of $35.04 and a 1-year high of $56.20. The company has a market capitalization of $2.73 billion, a P/E ratio of 42.14, a price-to-earnings-growth ratio of 2.24 and a beta of 0.84.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Tuesday, April 17th. The business services provider reported $0.00 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.38). Healthcare Services Group had a net margin of 3.38% and a return on equity of 16.99%. The business had revenue of $501.81 million during the quarter, compared to analysts’ expectations of $505.44 million. During the same quarter in the prior year, the firm posted $0.30 earnings per share. The firm’s quarterly revenue was up 24.1% on a year-over-year basis. equities analysts predict that Healthcare Services Group will post 1.5 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, May 25th will be issued a $0.1925 dividend. This represents a $0.77 annualized dividend and a yield of 2.08%. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, May 24th. Healthcare Services Group’s dividend payout ratio (DPR) is presently 63.87%.

In other news, Director Dino D. Ottaviano sold 1,500 shares of the stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $45.15, for a total transaction of $67,725.00. Following the transaction, the director now owns 2,044 shares of the company’s stock, valued at approximately $92,286.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert J. Moss sold 2,000 shares of the stock in a transaction dated Monday, March 19th. The stock was sold at an average price of $44.50, for a total transaction of $89,000.00. Following the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $89,000. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the business. TimesSquare Capital Management LLC boosted its holdings in Healthcare Services Group by 2.0% in the 4th quarter. TimesSquare Capital Management LLC now owns 779,780 shares of the business services provider’s stock valued at $41,110,000 after purchasing an additional 15,500 shares during the period. Swiss National Bank lifted its holdings in shares of Healthcare Services Group by 2.4% during the 4th quarter. Swiss National Bank now owns 124,663 shares of the business services provider’s stock worth $6,572,000 after acquiring an additional 2,900 shares during the last quarter. Pinebridge Investments L.P. lifted its holdings in shares of Healthcare Services Group by 165.9% during the 4th quarter. Pinebridge Investments L.P. now owns 24,145 shares of the business services provider’s stock worth $1,273,000 after acquiring an additional 15,063 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Healthcare Services Group by 39.7% during the 4th quarter. Deutsche Bank AG now owns 188,702 shares of the business services provider’s stock worth $9,945,000 after acquiring an additional 53,647 shares during the last quarter. Finally, Ramsey Quantitative Systems bought a new stake in shares of Healthcare Services Group during the 4th quarter worth $242,000. 97.81% of the stock is owned by hedge funds and other institutional investors.

About Healthcare Services Group

Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.

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