Short Interest in BGSF, Inc. (NYSE:BGSF) Grows By 722.5%

BGSF, Inc. (NYSE:BGSF) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 332,300 shares, an increase of 722.5% from the August 31st total of 40,400 shares. Based on an average daily volume of 197,100 shares, the days-to-cover ratio is currently 1.7 days. Currently, 3.3% of the shares of the stock are sold short. Currently, 3.3% of the shares of the stock are sold short. Based on an average daily volume of 197,100 shares, the days-to-cover ratio is currently 1.7 days.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BGSF. Zacks Research upgraded BGSF to a “hold” rating in a research report on Wednesday, August 13th. Taglich Brothers upgraded BGSF from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, June 23rd. Finally, Wall Street Zen upgraded BGSF from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, BGSF has an average rating of “Buy” and an average price target of $9.00.

BGSF Stock Performance

Shares of NYSE BGSF opened at $4.50 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $50.23 million, a price-to-earnings ratio of -7.75 and a beta of 1.23. The stock’s fifty day simple moving average is $6.36 and its 200 day simple moving average is $5.15. BGSF has a 52-week low of $2.91 and a 52-week high of $9.06.

BGSF Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. FNY Investment Advisers LLC grew its holdings in shares of BGSF by 7,900.0% during the second quarter. FNY Investment Advisers LLC now owns 8,000 shares of the company’s stock valued at $50,000 after buying an additional 7,900 shares in the last quarter. Clear Harbor Asset Management LLC purchased a new position in shares of BGSF during the second quarter valued at $346,000. Allworth Financial LP grew its holdings in shares of 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 buying an additional 19,500 shares in the last quarter. Bridge City Capital LLC grew its holdings in shares of 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 buying an additional 5,055 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in shares of BGSF during the fourth quarter valued at $60,000. Hedge funds and other institutional investors own 37.19% of the company’s stock.

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.