Tieton Capital Management LLC Acquires Shares of 633,407 BGSF, Inc. $BGSF

Key Points

• Tieton Capital Management acquired 633,407 BGSF shares in the second quarter, valued at approximately $3.6 million and representing a 5.94% stake. Institutional investors collectively own 37.19% of the company.
• BGSF reported a quarterly loss of $0.08 per share, missing the $0.20 consensus estimate, while revenue of $22.31 million fell short of analysts’ $24.50 million forecast.
• Investor sentiment remains negative: Weiss Ratings reiterated a “sell (D+)” rating, and BGSF has a consensus rating of “Sell.” Shares recently opened at $5.54, near their 50-day moving average.

Tieton Capital Management LLC purchased a new position in shares of BGSF, Inc. (NYSE:BGSF - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 633,407 shares of the company's stock, valued at approximately $3,617,000. Tieton Capital Management LLC owned 5.94% of BGSF at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of BGSF. Vanguard Group Inc. grew its position in BGSF by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 537,706 shares of the company's stock valued at $3,818,000 after buying an additional 10,546 shares during the last quarter. Sei Investments Co. boosted its holdings in BGSF by 105.9% during the first quarter. Sei Investments Co. now owns 281,596 shares of the company's stock worth $1,822,000 after buying an additional 144,820 shares in the last quarter. BlackRock Inc. acquired a new position in BGSF during the second quarter worth about $937,000. Geode Capital Management LLC grew 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 worth $521,000 after buying an additional 1,936 shares during the period. Finally, Bridgeway Capital Management LLC increased its stake in BGSF by 4.7% in the 4th quarter. Bridgeway Capital Management LLC now owns 95,550 shares of the company's stock valued at $442,000 after purchasing an additional 4,262 shares in the last quarter. 37.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d+)" rating on shares of BGSF in a report on Thursday, July 2nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, BGSF has a consensus rating of "Sell".

BGSF Price Performance

NYSE BGSF opened at $5.54 on Thursday. The company has a market cap of $59.11 million, a P/E ratio of -7.49 and a beta of 0.46. BGSF, Inc. has a 12 month low of $3.25 and a 12 month high of $8.22. The company has a 50-day moving average of $5.56 and a 200-day moving average of $5.72.

BGSF (NYSE:BGSF - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.28). The company had revenue of $22.31 million during the quarter, compared to analyst estimates of $24.50 million. BGSF had a negative net margin of 8.99% and a negative return on equity of 13.69%.

About BGSF

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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