BG Staffing Inc (BGSF) Short Interest Up 73.5% in September
BG Staffing Inc (NYSEAMERICAN:BGSF) saw a significant growth in short interest during the month of September. As of September 14th, there was short interest totalling 157,497 shares, a growth of 73.5% from the August 31st total of 90,763 shares. Based on an average daily volume of 177,967 shares, the days-to-cover ratio is presently 0.9 days. Approximately 1.8% of the shares of the company are short sold.
Separately, Zacks Investment Research lowered BG Staffing from a “buy” rating to a “hold” rating in a report on Tuesday, July 3rd.
In related news, CFO Dan Hollenbach sold 6,100 shares of the stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $27.83, for a total value of $169,763.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard L. Baum, Jr. sold 1,598 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $28.00, for a total value of $44,744.00. The disclosure for this sale can be found here. Insiders have sold 211,406 shares of company stock valued at $5,461,197 over the last ninety days.
BGSF stock traded up $0.66 on Tuesday, reaching $26.60. The company’s stock had a trading volume of 53,908 shares, compared to its average volume of 69,224. BG Staffing has a 52 week low of $14.65 and a 52 week high of $29.59.
BG Staffing (NYSEAMERICAN:BGSF) last issued its quarterly earnings data on Friday, July 27th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.24. BG Staffing had a return on equity of 30.25% and a net margin of 4.40%. The business had revenue of $70.95 million during the quarter, compared to analyst estimates of $72.12 million.
About BG Staffing
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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