Healthcare Services Group (NASDAQ:HCSG) Shares Pass Above 200-Day Moving Average – Time to Sell?

Healthcare Services Group, Inc. (NASDAQ:HCSG)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $19.19 and traded as high as $21.54. Healthcare Services Group shares last traded at $21.41, with a volume of 551,395 shares traded.

Analyst Ratings Changes

HCSG has been the subject of a number of recent research reports. Robert W. Baird set a $23.00 price target on shares of Healthcare Services Group in a research report on Thursday, February 12th. Wall Street Zen upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a report on Sunday, March 29th. Benchmark lifted their target price on shares of Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Royal Bank Of Canada boosted their price target on Healthcare Services Group from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 23rd. Finally, BMO Capital Markets upped their price target on Healthcare Services Group from $22.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $24.00.

Healthcare Services Group Stock Up 0.4%

The firm has a fifty day moving average price of $20.05 and a two-hundred day moving average price of $19.19. The stock has a market capitalization of $1.47 billion, a P/E ratio of 22.30 and a beta of 0.80.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.15. Healthcare Services Group had a net margin of 3.67% and a return on equity of 17.81%. The company had revenue of $462.77 million for the quarter, compared to analysts’ expectations of $479.79 million. During the same quarter in the previous year, the business posted $0.23 EPS. Healthcare Services Group’s revenue was up 3.4% compared to the same quarter last year. Sell-side analysts anticipate that Healthcare Services Group, Inc. will post 0.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Patrick J. Orr sold 45,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $20.54, for a total value of $934,570.00. Following the transaction, the executive vice president owned 44,615 shares in the company, valued at approximately $916,392.10. This represents a 50.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John Christopher Shea sold 54,357 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $20.41, for a total transaction of $1,109,426.37. Following the sale, the executive vice president owned 29,292 shares in the company, valued at approximately $597,849.72. The trade was a 64.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 146,962 shares of company stock valued at $3,014,100. Insiders own 2.60% of the company’s stock.

Institutional Trading of Healthcare Services Group

Institutional investors have recently added to or reduced their stakes in the business. Miller Global Investments LLC bought a new stake in shares of Healthcare Services Group in the 4th quarter worth $26,000. EverSource Wealth Advisors LLC raised its stake in shares of Healthcare Services Group by 163.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock worth $33,000 after purchasing an additional 1,356 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Healthcare Services Group during the fourth quarter valued at $33,000. Farther Finance Advisors LLC lifted its holdings in shares of Healthcare Services Group by 32.0% during the fourth quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock valued at $69,000 after purchasing an additional 877 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Healthcare Services Group by 29.7% during the fourth quarter. GAMMA Investing LLC now owns 3,688 shares of the business services provider’s stock valued at $71,000 after buying an additional 845 shares during the last quarter. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.