BG Staffing Inc (BGSF) Shares Sold by Pacific Ridge Capital Partners LLC
Pacific Ridge Capital Partners LLC decreased its position in shares of BG Staffing Inc (NYSEAMERICAN:BGSF) by 26.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 230,069 shares of the business services provider’s stock after selling 81,610 shares during the period. BG Staffing accounts for 1.6% of Pacific Ridge Capital Partners LLC’s investment portfolio, making the stock its 11th biggest holding. Pacific Ridge Capital Partners LLC owned approximately 2.26% of BG Staffing worth $6,258,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Globeflex Capital L P acquired a new position in shares of BG Staffing during the second quarter valued at about $109,000. Bank of America Corp DE raised its position in shares of BG Staffing by 83.2% during the second quarter. Bank of America Corp DE now owns 5,995 shares of the business services provider’s stock valued at $139,000 after buying an additional 2,722 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of BG Staffing during the second quarter valued at about $191,000. GSA Capital Partners LLP acquired a new position in shares of BG Staffing during the third quarter valued at about $242,000. Finally, First Trust Advisors LP acquired a new position in shares of BG Staffing during the second quarter valued at about $214,000.
In other BG Staffing news, Director Douglas Hailey sold 3,355 shares of the company’s stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $25.00, for a total transaction of $83,875.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Dan Hollenbach sold 2,000 shares of the company’s stock in a transaction dated Monday, November 12th. The stock was sold at an average price of $26.11, for a total transaction of $52,220.00. The disclosure for this sale can be found here. Insiders have sold 43,683 shares of company stock worth $1,136,475 over the last ninety days.
BG Staffing (NYSEAMERICAN:BGSF) last posted its earnings results on Tuesday, October 30th. The business services provider reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.08. The business had revenue of $77.06 million during the quarter, compared to the consensus estimate of $76.39 million.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 13th. Shareholders of record on Monday, November 5th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, November 2nd. This represents a $1.20 annualized dividend and a yield of 4.82%.
A number of analysts recently weighed in on the stock. Taglich Brothers reissued a “speculative buy” rating on shares of BG Staffing in a research note on Tuesday, November 6th. Zacks Investment Research raised shares of BG Staffing from a “hold” rating to a “strong-buy” rating and set a $30.00 target price on the stock in a research note on Thursday, November 1st.
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BG Staffing Profile
BG Staffing, Inc provides temporary staffing services in the United States. It operates in three segments: Multifamily, Professional, and Commercial. The Multifamily segment offers temporary front office and maintenance personnel to the various apartment communities. The Professional segment provides skilled temporary IT professionals with expertise in SAP, Workday, Olik View, Hyperion, Oracle, project management, and other IT staffing skills, as well as finance, accounting, and related support personnel.
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