StockNews.com Begins Coverage on BGSF (NYSE:BGSF)

StockNews.com assumed coverage on shares of BGSF (NYSE:BGSF) in a report issued on Saturday morning. The brokerage issued a buy rating on the stock.

BGSF Price Performance

Shares of BGSF stock opened at $9.06 on Friday. The firm has a market cap of $99.03 million, a price-to-earnings ratio of -9.54 and a beta of 1.71. The stock’s 50-day moving average is $9.59 and its 200 day moving average is $9.68. BGSF has a one year low of $8.45 and a one year high of $11.70.

BGSF (NYSE:BGSF) last posted its earnings results on Wednesday, March 13th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The company had revenue of $73.57 million for the quarter, compared to analyst estimates of $75.05 million. BGSF had a negative net margin of 3.26% and a positive return on equity of 9.40%. On average, sell-side analysts expect that BGSF will post 0.75 EPS for the current fiscal year.

BGSF Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 20th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $0.60 annualized dividend and a yield of 6.62%. BGSF’s payout ratio is -63.16%.

Institutional Investors Weigh In On BGSF

Large investors have recently made changes to their positions in the business. Strata Wealth Advisors LLC bought a new position in shares of BGSF in the third quarter worth approximately $253,000. Arete Wealth Advisors LLC purchased a new stake in BGSF in the 3rd quarter worth approximately $179,000. Tieton Capital Management LLC increased its stake in shares of BGSF by 61.6% in the third quarter. Tieton Capital Management LLC now owns 342,495 shares of the company’s stock worth $3,291,000 after purchasing an additional 130,511 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in BGSF by 28.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 31,835 shares of the company’s stock valued at $306,000 after acquiring an additional 7,026 shares during the period. Finally, Perritt Capital Management Inc. lifted its holdings in BGSF by 1.9% in the 3rd quarter. Perritt Capital Management Inc. now owns 65,156 shares of the company’s stock worth $626,000 after purchasing an additional 1,200 shares in the last quarter. 37.19% of the stock is currently owned by institutional investors.

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.