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

Healthcare Services Group, Inc. (NASDAQ:HCSG) 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 Stock Down 6.7 %

The company has a market cap of $816.04 million, a P/E ratio of 19.30 and a beta of 0.53. The business has a 50-day moving average price of $10.83 and a two-hundred day moving average price of $11.12.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI lifted its holdings in shares of Healthcare Services Group by 537.7% during the 4th quarter. National Bank of Canada FI now owns 134,625 shares of the business services provider’s stock valued at $1,432,000 after purchasing an additional 113,514 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Healthcare Services Group by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,599,981 shares of the business services provider’s stock worth $16,592,000 after acquiring an additional 111,625 shares in the last quarter. Confluence Investment Management LLC bought a new stake in shares of Healthcare Services Group during the first quarter worth $2,259,000. Vanguard Group Inc. raised its holdings in shares of Healthcare Services Group by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 8,629,517 shares of the business services provider’s stock worth $89,488,000 after acquiring an additional 167,779 shares during the period. Finally, Invenomic Capital Management LP bought a new stake in Healthcare Services Group in the 4th quarter valued at $4,216,000. 97.97% of the stock is owned by institutional investors and hedge funds.

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.