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

Shares of BGSF, Inc. (NYSE:BGSF) dropped 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.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of BGSF in a research note on Wednesday, October 8th. Wall Street Zen raised shares of BGSF from a “sell” rating to a “hold” rating in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, BGSF presently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

BGSF Stock Performance

The company has a market cap of $52.66 million, a P/E ratio of -4.57 and a beta of 0.74. The business has a fifty day simple moving average of $4.10 and a 200 day simple moving average of $5.32.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BGSF. FNY Investment Advisers LLC grew its position in shares of BGSF by 7,900.0% during 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 bought a new position in BGSF in the third quarter worth about $75,000. Clear Harbor Asset Management LLC acquired a new position in BGSF in the second quarter valued at approximately $346,000. Bridgeway Capital Management LLC grew its holdings 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 valued at $648,000 after purchasing an additional 25,088 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of BGSF by 2.0% during the third quarter. Vanguard Group Inc. now owns 537,706 shares of the company’s stock valued at $3,818,000 after purchasing an additional 10,546 shares during the last quarter. 37.19% of the stock is currently owned by institutional investors.

About BGSF

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.