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

Key Points

• Short interest plunged 42.7% to 64,347 shares as of March 31 (about 0.6% of the stock), leaving a short-interest ratio of roughly 2.7 days based on average daily volume.
• Q1 results beat on EPS but missed on revenue: BGSF reported EPS of ($0.09) vs. ($0.16) expected and revenue of $22.03M versus $22.95M expected, while remaining unprofitable with a negative net margin and analysts forecasting about -$0.30 EPS for the year.
• Institutional ownership is sizable at 37.19%, with several funds (including Jane Street and O’Shaughnessy) increasing positions in recent quarters.

BGSF, Inc. (NYSE:BGSF - Get Free Report) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totaling 64,347 shares, a drop of 42.7% from the March 15th total of 112,372 shares. Approximately 0.6% of the company's stock are short sold. Based on an average daily volume of 23,975 shares, the short-interest ratio is currently 2.7 days.

BGSF Stock Down 2.0%

Shares of BGSF traded down $0.12 during mid-day trading on Monday, reaching $5.95. 8,572 shares of the stock traded hands, compared to its average volume of 30,140. The firm has a market cap of $66.88 million, a price-to-earnings ratio of -5.78 and a beta of 0.66. The stock has a fifty day simple moving average of $6.09 and a 200 day simple moving average of $5.07. BGSF has a 12-month low of $2.91 and a 12-month high of $8.22.

BGSF (NYSE:BGSF - Get Free Report) last posted its quarterly earnings data on Wednesday, March 11th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.07. The company had revenue of $22.03 million for the quarter, compared to analyst estimates of $22.95 million. BGSF had a negative net margin of 8.43% and a negative return on equity of 15.34%. On average, equities research analysts expect that BGSF will post -0.3 earnings per share for the current fiscal year.

Institutional Trading of BGSF

Hedge funds have recently made changes to their positions in the company. Ritholtz Wealth Management purchased a new stake in shares of BGSF during the third quarter valued at approximately $75,000. Vise Technologies Inc. bought a new stake in shares of BGSF in the fourth quarter worth $122,000. Empowered Funds LLC increased its stake in shares of BGSF by 14.2% in the fourth quarter. Empowered Funds LLC now owns 34,350 shares of the company's stock worth $159,000 after buying an additional 4,262 shares during the last quarter. Jane Street Group LLC increased its stake in shares of BGSF by 183.6% in the fourth quarter. Jane Street Group LLC now owns 38,287 shares of the company's stock worth $177,000 after buying an additional 24,787 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of BGSF by 89.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 45,484 shares of the company's stock worth $211,000 after buying an additional 21,503 shares during the last quarter. Hedge funds and other institutional investors own 37.19% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.