The Potential Rise in the Price of Healthcare Services Group Inc. (HCSG) following insiders activity


Healthcare Services Group Inc.’s recently made public that its Director Simmons Kurt JR acquired Company’s shares for reported $15005.0 on Jun 30. In the deal valued at $14.93 per share,1,005 shares were bought. As a result of this transaction, Simmons Kurt JR now holds 8,542 shares worth roughly $ 0.1 million.

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Then, Brophy Andrew M sold 951 shares, generating $12,753 in total proceeds. Upon selling the shares at $13.41, the Principal Accounting Officer now owns 3,644 shares.

Jefferies upgraded its Healthcare Services Group Inc. [HCSG] rating to a Hold from a an Underperform in a research note published on Friday, March 24, 2023; the price target was increased to $14 from $8.50. PT values the company’s stock at a premium of 16.14 to its Friday closing price.

Price Performance Review of HCSG

On Friday, Healthcare Services Group Inc. [NASDAQ:HCSG] saw its stock jump 1.65% to $11.74. On the same session, the stock had its day’s lowest price of $11.60, but rose to a high of $11.78. Over the last five days, the stock has gained 0.43%. Healthcare Services Group Inc. shares have fallen nearly -2.17% since the year began. Nevertheless, the stocks have fallen -16.56% over the past one year. While a 52-week high of $15.97 was reached on 04/28/23, a 52-week low of $11.48 was recorded on 08/30/23. SMA at 50 days reached $13.34, while 200 days put it at $13.57. A total of 0.46 million shares were traded, compared to the trading of 0.59 million shares in the previous session.

Levels Of Support And Resistance For HCSG Stock

The 24-hour chart illustrates a support level at 11.63, which if violated will result in even more drops to 11.53. On the upside, there is a resistance level at 11.81. A further resistance level may holdings at 11.89. The Relative Strength Index (RSI) on the 14-day chart is 30.59, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.37, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 80.15%. Stochastics %K at 11.28% indicates the stock is a buying.

How much short interest is there in Healthcare Services Group Inc.?

A steep rise in short interest was recorded in Healthcare Services Group Inc. stocks on Aug 14, 2023, dropping by -1.86 million shares to a total of 2.13 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.99 million shares. There was a decline of -87.32%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.01% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.35.

Healthcare Services Group Inc. [HCSG] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 11,480,944 shares, or roughly 15.47% of the outstanding HCSG shares. In other words, the investor’s shares have risen by 308,625 from its previous 13-F filing of 11172319.0. Additionally, The Vanguard Group, Inc. decreased -0.76% of its stake after which the total value it holdings stand at $108,553,563, while Mackenzie Financial Corp. reduced -0.37% of its stake to hold $52.02 million in the firm. Over the last quarter, American Century Investment Manag purchased 1,578,625 shares of Healthcare Services Group Inc., while SSgA Funds Management, Inc. bought -27,116 shares. At present, Royce & Associates LP is holding 2,297,775 shares valued at $28.97 million. DePrince, Race & Zollo, Inc. owned 2,050,623 shares of the company at the time of its most recent 13F filing, worth $25.86 million.

According to FactSet, Healthcare Services Group Inc.’s share price will average $15.60 in the next year, based on opinions of analysts polled by the firm. This is up nearly 29.87 percent from its previous closing price of $11.55. Analysts expect Healthcare Services Group Inc. stock to reach the higher price of $18.00, while the lowest price estimate is $14.00. However, 6 analysts have rated HCSG stock as an Overweight in their predictions for 2023.


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