54,393 Shares in BGSF, Inc. $BGSF Purchased by Clear Harbor Asset Management LLC

Key Points

• Clear Harbor Asset Management LLC has purchased 54,393 shares of BGSF, Inc., valued at approximately $346,000, marking a new position for the firm in the second quarter.
• BGSF is trading down 10.0%, with shares opening at $7.14, while the company has a market cap of $79.75 million and a PE ratio of -12.31.
• Analysts have recently upgraded BGSF's ratings, with a new average price target of $9.00, indicating a generally positive outlook for the stock.

Clear Harbor Asset Management LLC acquired a new position in shares of BGSF, Inc. (NYSE:BGSF - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 54,393 shares of the company's stock, valued at approximately $346,000. Clear Harbor Asset Management LLC owned about 0.49% of BGSF as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in BGSF. Allworth Financial LP grew its stake in shares of BGSF by 98.0% during the 1st quarter. Allworth Financial LP now owns 39,400 shares of the company's stock worth $136,000 after acquiring an additional 19,500 shares during the period. Northern Trust Corp boosted its holdings in shares of BGSF by 43.8% in the fourth quarter. Northern Trust Corp now owns 37,675 shares of the company's stock worth $197,000 after acquiring an additional 11,483 shares during the period. Millennium Management LLC purchased a new position in shares of BGSF in the fourth quarter valued at $60,000. Finally, Bridge City Capital LLC raised its stake in shares of BGSF by 10.8% during the 1st quarter. Bridge City Capital LLC now owns 52,051 shares of the company's stock valued at $192,000 after purchasing an additional 5,055 shares during the period. 37.19% of the stock is currently owned by institutional investors.

BGSF Trading Down 10.0%

Shares of BGSF stock opened at $7.14 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.64 and a quick ratio of 1.64. BGSF, Inc. has a 1 year low of $2.91 and a 1 year high of $9.06. The firm has a market cap of $79.75 million, a PE ratio of -12.31 and a beta of 1.23. The company has a 50 day simple moving average of $6.38 and a two-hundred day simple moving average of $5.04.

BGSF Announces Dividend

The business also recently announced a special dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd will be given a $2.00 dividend. The ex-dividend date is Wednesday, October 1st.

Analysts Set New Price Targets

BGSF has been the subject of several analyst reports. Zacks Research upgraded BGSF to a "hold" rating in a research note on Wednesday, August 13th. Taglich Brothers upgraded shares of BGSF from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, June 23rd. Finally, Wall Street Zen raised shares of BGSF from a "sell" rating to a "hold" rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $9.00.

About BGSF

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.

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