BGSF, Inc. (NYSE:BGSF) Short Interest Update

Key Points

• Short interest fell 26.1% — short interest dropped to 112,372 shares as of March 13 (about 1.1% of shares) with a days-to-cover of 3.5 based on average daily volume.
• Mixed quarterly results and current price — BGSF reported a ($0.09) EPS that beat the ($0.16) consensus by $0.07 while revenue of $22.03M missed estimates; the stock traded at $6.36 with 50‑/200‑day SMAs of $5.95/$5.15 and a 52‑week range of $2.91–$8.22.
• Notable institutional ownership — institutional investors own 37.19% of the company, with Vanguard, Bridgeway and Clear Harbor increasing stakes and Ritholtz Wealth initiating a position.

BGSF, Inc. (NYSE:BGSF - Get Free Report) was the target of a large decline in short interest in March. As of March 13th, there was short interest totaling 112,372 shares, a decline of 26.1% from the February 26th total of 151,987 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily volume of 31,962 shares, the days-to-cover ratio is presently 3.5 days.

BGSF Price Performance

Shares of BGSF stock traded up $0.01 during trading on Friday, reaching $6.36. 25,685 shares of the stock traded hands, compared to its average volume of 28,432. The company has a market capitalization of $71.19 million, a price-to-earnings ratio of -6.17 and a beta of 0.71. The business has a fifty day simple moving average of $5.95 and a two-hundred day simple moving average of $5.15. BGSF has a 52-week low of $2.91 and a 52-week high of $8.22.

BGSF (NYSE:BGSF - Get Free Report) last issued its earnings results on Wednesday, March 11th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.07. BGSF had a negative return on equity of 14.13% and a negative net margin of 8.43%.The firm had revenue of $22.03 million for the quarter, compared to analysts' expectations of $22.95 million. On average, research analysts predict that BGSF will post -0.3 earnings per share for the current fiscal year.

Institutional Trading of BGSF

Hedge funds have recently modified their holdings of the company. Clear Harbor Asset Management LLC boosted its position in shares of BGSF by 16.1% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 63,157 shares of the company's stock valued at $448,000 after acquiring an additional 8,764 shares during the last quarter. Ritholtz Wealth Management bought a new stake in BGSF in the third quarter worth $75,000. Vanguard Group Inc. raised its stake in 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 in the last quarter. Bridgeway Capital Management LLC raised its stake in 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 in the last quarter. Finally, Geode Capital Management LLC lifted its position in BGSF by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 112,454 shares of the company's stock valued at $521,000 after purchasing an additional 1,936 shares during the last quarter. 37.19% of the stock is 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.

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