BGSF (NYSE:BGSF) Shares Up 6.4% – Here’s What Happened

BGSF, Inc. (NYSE:BGSF) shares traded up 6.4% during trading on Wednesday . The company traded as high as $6.75 and last traded at $6.51. 60,454 shares traded hands during mid-day trading, an increase of 40% from the average session volume of 43,202 shares. The stock had previously closed at $6.12.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen assumed coverage on BGSF in a research report on Monday, May 19th. They issued a “hold” rating on the stock. Taglich Brothers upgraded shares of BGSF from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, June 23rd. Roth Mkm reduced their price objective on BGSF from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Finally, Roth Capital set a $9.00 target price on shares of BGSF in a report on Thursday, March 20th.

BGSF Trading Up 6.4%

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.76 and a current ratio of 1.76. The stock’s fifty day moving average is $5.16 and its 200 day moving average is $4.62. The stock has a market cap of $72.33 million, a P/E ratio of -21.00 and a beta of 1.13.

BGSF (NYSE:BGSF) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.11. BGSF had a negative net margin of 1.22% and a negative return on equity of 3.96%. The company had revenue of $63.23 million for the quarter, compared to analyst estimates of $62.00 million. As a group, equities research analysts predict that BGSF, Inc. will post -0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BGSF

Several institutional investors have recently bought and sold shares of BGSF. Tower Research Capital LLC TRC purchased a new position in BGSF during the fourth quarter valued at approximately $29,000. Millennium Management LLC acquired a new stake in shares of BGSF during the fourth quarter worth $60,000. Allworth Financial LP lifted its position in BGSF by 98.0% during the first quarter. Allworth Financial LP now owns 39,400 shares of the company’s stock valued at $136,000 after purchasing an additional 19,500 shares during the period. Bridge City Capital LLC lifted its position in BGSF by 10.8% during the first quarter. Bridge City Capital LLC now owns 52,051 shares of the company’s stock valued at $192,000 after purchasing an additional 5,055 shares during the period. Finally, Northern Trust Corp lifted its position in BGSF by 43.8% during the fourth quarter. Northern Trust Corp now owns 37,675 shares of the company’s stock valued at $197,000 after purchasing an additional 11,483 shares during the period. 37.19% of the stock is owned by hedge funds and other institutional investors.

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.