BGSF, Inc. (NYSE:BGSF) Short Interest Update

BGSF, Inc. (NYSE:BGSF) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 288,200 shares, a drop of 27.6% from the September 30th total of 398,200 shares. Currently, 2.8% of the company’s stock are short sold. Based on an average daily trading volume, of 221,900 shares, the short-interest ratio is currently 1.3 days. Based on an average daily trading volume, of 221,900 shares, the short-interest ratio is currently 1.3 days. Currently, 2.8% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BGSF. Zacks Research upgraded shares of BGSF to a “hold” rating in a research note on Wednesday, August 13th. Weiss Ratings reissued a “sell (d)” rating on shares of BGSF in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded BGSF from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Hedge Funds Weigh In On BGSF

A number of large investors have recently modified their holdings of BGSF. Clear Harbor Asset Management LLC purchased a new stake in shares of BGSF in the second quarter valued at approximately $346,000. Allworth Financial LP boosted its position in shares of BGSF by 98.0% during the 1st quarter. Allworth Financial LP now owns 39,400 shares of the company’s stock worth $136,000 after purchasing an additional 19,500 shares in the last quarter. Ritholtz Wealth Management acquired a new position in BGSF in the 3rd quarter valued at about $75,000. Finally, FNY Investment Advisers LLC lifted its holdings in BGSF by 7,900.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 8,000 shares of the company’s stock valued at $50,000 after purchasing an additional 7,900 shares in the last quarter. 37.19% of the stock is owned by hedge funds and other institutional investors.

BGSF Stock Performance

Shares of NYSE:BGSF traded up $0.04 on Monday, reaching $3.39. The company’s stock had a trading volume of 34,439 shares, compared to its average volume of 91,230. BGSF has a 52-week low of $2.91 and a 52-week high of $8.22. The stock has a market capitalization of $37.81 million, a P/E ratio of -5.84 and a beta of 1.21. The stock’s 50-day moving average is $5.31 and its two-hundred day moving average is $5.22. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.64 and a quick ratio of 1.64.

BGSF (NYSE:BGSF) last issued its quarterly earnings results on Tuesday, December 20th. The company reported $0.31 earnings per share (EPS) for the quarter. The firm had revenue of $64.18 million for the quarter. BGSF had a negative return on equity of 9.06% and a negative net margin of 2.81%. As a group, sell-side analysts forecast that BGSF will post -0.3 EPS for the current year.

BGSF Announces Dividend

The firm also recently announced a special dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were given a dividend of $2.00 per share. The ex-dividend date was Wednesday, October 1st.

About BGSF

BGSF, Inc, together with its subsidiaries, provides consulting, managed services, and professional workforce solutions in the United States. It operates in two segments, Property Management and Professional. The Property Management segment offers office and maintenance field talent to various apartment communities and commercial buildings.