BGSF (NYSE:BGSF) Trading Down 1.2% – Here’s Why

BGSF, Inc. (NYSE:BGSF) was down 1.2% during mid-day trading on Monday . The stock traded as low as $4.56 and last traded at $4.7020. Approximately 56,262 shares changed hands during trading, an increase of 11% from the average daily volume of 50,656 shares. The stock had previously closed at $4.76.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BGSF. Weiss Ratings reiterated a “sell (d)” rating on shares of BGSF in a report on Wednesday, October 8th. Wall Street Zen raised 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 assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, BGSF currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

BGSF Price Performance

The firm has a 50-day simple moving average of $4.10 and a 200 day simple moving average of $5.32. The company has a market capitalization of $52.66 million, a PE ratio of -4.57 and a beta of 0.74.

BGSF (NYSE:BGSF) last posted its earnings results on Tuesday, December 20th. The company reported $0.31 earnings per share (EPS) for the quarter. The business had revenue of $64.18 million during the quarter. BGSF had a negative return on equity of 13.16% and a negative net margin of 6.32%. Equities research analysts expect that BGSF, Inc. will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Clear Harbor Asset Management LLC purchased a new stake in BGSF during the 2nd quarter worth $346,000. FNY Investment Advisers LLC boosted its position 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 buying an additional 7,900 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in shares of BGSF during the third quarter valued at about $75,000. Bridgeway Capital Management LLC increased its position in shares of BGSF by 37.9% during the third quarter. Bridgeway Capital Management LLC now owns 91,288 shares of the company’s stock worth $648,000 after acquiring an additional 25,088 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of BGSF by 2.0% in the third quarter. Vanguard Group Inc. now owns 537,706 shares of the company’s stock worth $3,818,000 after acquiring an additional 10,546 shares in the last quarter. 37.19% of the stock is currently owned by hedge funds and other institutional investors.

BGSF Company Profile

BGSF, Inc (NYSE:BGSF) is a provider of comprehensive workforce management and professional staffing services. The company specializes in designing and administering programs that help organizations optimize their contingent labor, direct hire recruiting and managed service solutions. Through an integrated approach, BGSF delivers end-to-end support that encompasses the planning, deployment and oversight of talent across multiple business functions.

BGSF’s service offerings include strategic workforce planning, vendor management, compliance and risk management, onboarding, timekeeping and payroll administration.