StockNews.com Begins Coverage on BGSF (NYSE:BGSF)

StockNews.com started coverage on shares of BGSF (NYSE:BGSF) in a report published on Friday. The brokerage issued a buy rating on the stock.

BGSF Stock Up 0.5 %

BGSF stock opened at $8.95 on Friday. BGSF has a 12 month low of $8.50 and a 12 month high of $11.70. The company has a 50-day moving average price of $9.70 and a 200 day moving average price of $9.69.

BGSF (NYSE:BGSF) last released its quarterly earnings data on Wednesday, March 13th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The company had revenue of $73.57 million during the quarter, compared to analysts’ expectations of $75.05 million. BGSF had a negative net margin of 3.26% and a positive return on equity of 9.40%. As a group, research analysts forecast that BGSF will post 0.82 earnings per share for the current fiscal year.

BGSF Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 20th were issued a $0.15 dividend. The ex-dividend date was Friday, February 16th. This represents a $0.60 annualized dividend and a dividend yield of 6.71%. BGSF’s dividend payout ratio is currently -63.16%.

Institutional Investors Weigh In On BGSF

Several large investors have recently modified their holdings of BGSF. Strata Wealth Advisors LLC bought a new stake in shares of BGSF in the 3rd quarter valued at about $253,000. Arete Wealth Advisors LLC bought a new stake in shares of BGSF in the 3rd quarter valued at about $179,000. Tieton Capital Management LLC raised its holdings in shares of BGSF by 61.6% in the 3rd quarter. Tieton Capital Management LLC now owns 342,495 shares of the company’s stock valued at $3,291,000 after purchasing an additional 130,511 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of BGSF by 28.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 31,835 shares of the company’s stock valued at $306,000 after purchasing an additional 7,026 shares in the last quarter. Finally, Perritt Capital Management Inc. raised its holdings in shares of BGSF by 1.9% in the 3rd quarter. Perritt Capital Management Inc. now owns 65,156 shares of the company’s stock valued at $626,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors own 37.19% of the company’s stock.

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.