BGSF (NYSE:BGSF) Shares Up 6.4% - Here's Why

Shares of BGSF, Inc. (NYSE:BGSF - Get Free Report) rose 6.4% during trading on Wednesday . The stock traded as high as $6.75 and last traded at $6.51. Approximately 60,454 shares were traded during trading, an increase of 40% from the average daily volume of 43,202 shares. The stock had previously closed at $6.12.

Wall Street Analyst Weigh In

BGSF has been the subject of several research reports. Roth Capital set a $9.00 price objective on shares of BGSF in a research report on Thursday, March 20th. Wall Street Zen assumed coverage on shares of BGSF in a research note on Monday, May 19th. They issued a "hold" rating on the stock. Taglich Brothers raised shares of BGSF from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, June 23rd. Finally, Roth Mkm reduced their target price on shares of BGSF from $12.00 to $9.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th.

BGSF Trading Up 0.3%

The firm has a market cap of $72.77 million, a PE ratio of -21.13 and a beta of 1.13. The company's 50 day moving average price is $5.22 and its two-hundred day moving average price is $4.63. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.48.

BGSF (NYSE:BGSF - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.11. BGSF had a negative net margin of 1.22% and a negative return on equity of 3.96%. The company had revenue of $63.23 million for the quarter, compared to analysts' expectations of $62.00 million. As a group, sell-side analysts forecast that BGSF, Inc. will post -0.3 EPS for the current year.

Hedge Funds Weigh In On BGSF

Several institutional investors have recently made changes to their positions in BGSF. Dimensional Fund Advisors LP grew its holdings in shares of BGSF by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 316,105 shares of the company's stock valued at $1,657,000 after purchasing an additional 7,592 shares during the period. Perritt Capital Management Inc lifted its position in shares of BGSF by 42.8% during the fourth quarter. Perritt Capital Management Inc now owns 47,089 shares of the company's stock worth $247,000 after purchasing an additional 14,113 shares in the last quarter. Northern Trust Corp raised its holdings in BGSF by 43.8% in the fourth quarter. Northern Trust Corp now owns 37,675 shares of the company's stock valued at $197,000 after acquiring an additional 11,483 shares in the last quarter. Millennium Management LLC acquired a new stake in BGSF in the fourth quarter valued at approximately $60,000. Finally, Tower Research Capital LLC TRC purchased a new position in BGSF in the fourth quarter valued at approximately $29,000. 37.19% of the stock is owned by hedge funds and other institutional investors.

BGSF Company Profile

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.