BGSF, Inc. (NYSE:BGSF) Sees Large Decrease in Short Interest

BGSF, Inc. (NYSE:BGSF) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 32,400 shares, a drop of 7.7% from the March 15th total of 35,100 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 13,200 shares, the days-to-cover ratio is presently 2.5 days.

BGSF Trading Down 0.5 %

BGSF stock traded down $0.05 during mid-day trading on Wednesday, hitting $9.15. The company had a trading volume of 4,167 shares, compared to its average volume of 12,566. BGSF has a 12 month low of $8.85 and a 12 month high of $11.70. The stock’s 50 day moving average price is $9.90 and its two-hundred day moving average price is $9.71.

BGSF (NYSE:BGSF) last posted its quarterly earnings results on Wednesday, March 13th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The firm had revenue of $73.57 million during the quarter, compared to analysts’ expectations of $75.05 million. BGSF had a positive return on equity of 9.40% and a negative net margin of 3.26%. As a group, equities analysts predict that BGSF will post 0.82 earnings per share for the current fiscal year.

BGSF Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 20th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.56%. The ex-dividend date was Friday, February 16th. BGSF’s dividend payout ratio (DPR) is -63.16%.

Institutional Investors Weigh In On BGSF

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in BGSF by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 80,642 shares of the company’s stock worth $1,235,000 after purchasing an additional 968 shares during the period. Royal Bank of Canada increased its holdings in BGSF by 7.3% in the 3rd quarter. Royal Bank of Canada now owns 15,873 shares of the company’s stock valued at $177,000 after acquiring an additional 1,073 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in BGSF by 1.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 83,475 shares of the company’s stock worth $928,000 after purchasing an additional 1,176 shares in the last quarter. Perritt Capital Management Inc. boosted its holdings in shares of BGSF by 1.9% during the 3rd quarter. Perritt Capital Management Inc. now owns 65,156 shares of the company’s stock valued at $626,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Advisor Group Holdings Inc. grew its position in shares of BGSF by 107.2% during the first quarter. Advisor Group Holdings Inc. now owns 2,946 shares of the company’s stock valued at $39,000 after purchasing an additional 1,524 shares in the last quarter. 37.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised BGSF from a “hold” rating to a “buy” rating in a research note on Monday, March 18th.

BGSF Company Profile

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.