Healthcare Services Group (NASDAQ:HCSG) Shares Down 6%

Healthcare Services Group, Inc. (NASDAQ:HCSG)’s share price was down 6% during mid-day trading on Wednesday . The company traded as low as $10.58 and last traded at $10.58. Approximately 64,030 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 559,135 shares. The stock had previously closed at $11.26.

Healthcare Services Group Stock Performance

The company has a market capitalization of $780.69 million, a PE ratio of 18.56 and a beta of 0.53. The company’s 50-day moving average is $10.77 and its 200 day moving average is $11.03.

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

Hedge Funds Weigh In On Healthcare Services Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC bought a new stake in shares of Healthcare Services Group in the first quarter worth approximately $27,000. Financial Management Professionals Inc. bought a new position in shares of Healthcare Services Group during the 1st quarter valued at $55,000. PNC Financial Services Group Inc. boosted its stake in shares of 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 last quarter. Victory Capital Management Inc. grew its holdings in shares of Healthcare Services Group by 14.0% in the fourth quarter. Victory Capital Management Inc. now owns 14,586 shares of the business services provider’s stock worth $151,000 after acquiring an additional 1,795 shares during the period. Finally, CWM LLC boosted its position in Healthcare Services Group by 12.9% in the first quarter. CWM LLC now owns 12,357 shares of the business services provider’s stock worth $154,000 after purchasing an additional 1,411 shares during the last quarter. Institutional investors own 97.97% of the company’s stock.

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.