Bridgford Foods Corporation (NASDAQ:BRID) Sees Large Drop in Short Interest

Key Points

• Bridgford Foods saw a 15.4% drop in short interest to 10,445 shares as of March 13, representing 0.6% of shares and a short-interest ratio of 3.4 days based on average daily volume.
• Private Management Group Inc. increased its stake by 194.4% in Q4 to 79,040 shares (about 0.87% of the company), while institutional investors collectively own roughly 4.68% of the stock.
• The company reported a quarterly loss (EPS -$0.09), a negative PE (-5.12) and margins, and analysts maintain an overall Sell rating, with Weiss Ratings reaffirming "sell (e+)."

Bridgford Foods Corporation (NASDAQ:BRID - Get Free Report) saw a large drop in short interest in March. As of March 13th, there was short interest totaling 10,445 shares, a drop of 15.4% from the February 26th total of 12,353 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily volume of 3,116 shares, the short-interest ratio is currently 3.4 days.

Hedge Funds Weigh In On Bridgford Foods

An institutional investor recently raised its position in Bridgford Foods stock. Private Management Group Inc. raised its stake in shares of Bridgford Foods Corporation (NASDAQ:BRID - Free Report) by 194.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 79,040 shares of the company's stock after buying an additional 52,190 shares during the period. Private Management Group Inc. owned about 0.87% of Bridgford Foods worth $617,000 at the end of the most recent quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

Bridgford Foods Stock Performance

Bridgford Foods stock opened at $7.38 on Tuesday. The business's 50-day simple moving average is $7.61 and its two-hundred day simple moving average is $7.76. The company has a market cap of $67.01 million, a PE ratio of -5.12 and a beta of -0.25. Bridgford Foods has a fifty-two week low of $7.00 and a fifty-two week high of $8.84.

Bridgford Foods (NASDAQ:BRID - Get Free Report) last announced its quarterly earnings data on Friday, March 6th. The company reported ($0.09) earnings per share (EPS) for the quarter. Bridgford Foods had a negative return on equity of 11.02% and a negative net margin of 5.60%.The firm had revenue of $55.31 million during the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Bridgford Foods in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of "Sell".

Bridgford Foods Company Profile

Bridgford Foods Corporation is a U.S.-based producer and distributor of specialty baked goods and snack products. The company manufactures a range of ready-to-heat and shelf-stable items, including sandwich rolls, hot dog buns, bagels, English muffins, pizza crusts, tortillas and flatbreads. In addition to its branded offerings, Bridgford Foods provides private-label manufacturing for foodservice operators, retail grocers and specialty distributors, positioning itself as a versatile supplier in both consumer and commercial channels.

Operating through distinct Retail and Foodservice segments, Bridgford Foods serves national grocery chains, club stores, convenience markets and institutional customers.

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