Healthcare Services Group (NASDAQ:HCSG) Shares Gap Down to $11.87

Healthcare Services Group, Inc. (NASDAQ:HCSG)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $11.87, but opened at $11.03. Healthcare Services Group shares last traded at $10.16, with a volume of 80,435 shares trading hands.

Healthcare Services Group Trading Down 6.7 %

The stock has a market capitalization of $816.04 million, a PE ratio of 19.30 and a beta of 0.53. The firm has a 50-day moving average price of $10.83 and a 200-day moving average price of $11.12.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Wednesday, April 24th. The business services provider reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. Healthcare Services Group had a net margin of 2.44% and a return on equity of 11.44%. The firm had revenue of $423.40 million for the quarter, compared to analysts’ expectations of $424.91 million. During the same period in the previous year, the company earned $0.17 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. Sell-side analysts expect that Healthcare Services Group, Inc. will post 0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Healthcare Services Group

Several institutional investors and hedge funds have recently bought and sold shares of HCSG. ProShare Advisors LLC grew its stake in shares of Healthcare Services Group by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 14,994 shares of the business services provider’s stock worth $187,000 after acquiring an additional 1,030 shares during the period. Bridge City Capital LLC raised its position in shares of Healthcare Services Group by 0.8% in the first quarter. Bridge City Capital LLC now owns 145,986 shares of the business services provider’s stock valued at $1,822,000 after purchasing an additional 1,104 shares during the period. CWM LLC lifted its stake in shares of Healthcare Services Group by 12.9% during the 1st quarter. CWM LLC now owns 12,357 shares of the business services provider’s stock valued at $154,000 after buying an additional 1,411 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Healthcare Services Group by 38.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,186 shares of the business services provider’s stock worth $64,000 after buying an additional 1,714 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Healthcare Services Group by 14.0% in the 4th quarter. Victory Capital Management Inc. now owns 14,586 shares of the business services provider’s stock valued at $151,000 after buying an additional 1,795 shares in the last quarter. 97.97% of the stock is owned by 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 of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.