BlackRock Fund Advisors recently announced the acquisition of new stake in Healthcare Services Group Inc. (NASDAQ:HCSG). The institutional investor has increased its shareholding in the Healthcare company by 2.83% to 11.36 million shares with purchase of 0.31 million shares. This fresh investment now brings its stake to 15.28% valued currently at $150.81 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.19 million to 8.22 million shares. And SSgA Funds Management, Inc. has lifted its position by 1.52% or 65686.0 shares – to 4.39 million shares.
With over 1.8 million Healthcare Services Group Inc. (HCSG) shares trading Monday and a closing price of $12.31 on the day, the dollar volume was approximately $22.17 million. The shares have shown a negative half year performance of -11.44% and its price on 03/13/23 gained nearly 2.58%. Currently, there are 74.34M common shares owned by the public and among those 73.55M shares have been available to trade.
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Insiders at the company have transacted a total of 49 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 41 of these insider trades were purchases, accounting for 127,179 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 47,556 shares.
The top 3 mutual fund holders in Healthcare Services Group Inc. are iShares Core S&P Small Cap ETF, Invesco High Yield Equity Dividen, and Mackenzie US Mid Cap Growth Class. iShares Core S&P Small Cap ETF owns 5.65 million shares of the company’s stock, all valued at over $74.98 million. The company bought an additional 13754.0 shares recently to bring their total holdings to about 7.60% of the shares outstanding. Mackenzie US Mid Cap Growth Class now owns shares totaling to 4.43% of the shares outstanding.
Shares of Healthcare Services Group Inc. (NASDAQ: HCSG) opened at $11.87, down -$0.13 from a prior closing price of $12.00. However, the script later moved the day high at 12.37, up 2.58%. The company’s stock has a 5-day price change of -2.99% and -5.81% over the past three months. HCSG shares are trading 2.58% year to date (YTD), with the 12-month market performance down to -27.55% lower. It has a 12-month low price of $11.55 and touched a high of $20.54 over the same period. HCSG has an average intraday trading volume of 733.07K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.70%, -6.24%, and -13.19% respectively.
Institutional ownership of Healthcare Services Group Inc. (NASDAQ: HCSG) shares accounts for 99.53% of the company’s 74.34M shares outstanding. Mutual fund holders own 5.06%, while other institutional holders and individual stakeholders account for 62.87% and 34.54% respectively.
It has a market capitalization of $941.72M and a beta (3y monthly) value of 0.37. The stock’s trailing 12-month PE ratio is 26.42, while the earnings-per-share (ttm) stands at $0.47. The company has a PEG of 2.94 and a Quick Ratio of 2.70 with the debt-to-equity ratio at 0.06. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.41% over the week and 3.88% over the month.
Analysts forecast that Healthcare Services Group Inc. (HCSG) will achieve an EPS of $0.11 for the current quarter, $0.14 for the next quarter and $0.65 for 2023. The lowest estimate earnings-per-share for the quarter is $0.06 while analysts give the company a high EPS estimate of $0.17. Comparatively, EPS for the current quarter was $0.03 a year ago. Earnings per share for the fiscal year are expected to decrease by -23.90%, and 22.98% over the next financial year. EPS should grow at an annualized rate of 9.00% over the next five years, compared to -17.10% over the past 5-year period.
Looking at the support for the HCSG, a number of firms have released research notes about the stock. RBC Capital Mkts stated their Outperform rating for the stock in a research note on February 17, 2023, with the firm’s price target at $14-$17. The Benchmark Company coverage for the Healthcare Services Group Inc. (HCSG) stock in a research note released on October 20, 2022 offered a Buy rating with a price target of $18. Stifel on their part issued Hold rating on June 23, 2021.
