BGSF (NYSE:BGSF) Now Covered by Analysts at StockNews.com

StockNews.com initiated 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 %

Shares of NYSE BGSF opened at $8.95 on Friday. BGSF has a fifty-two week low of $8.50 and a fifty-two week high of $11.70. The firm’s 50-day simple moving average is $9.70 and its 200 day simple moving average is $9.69.

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

BGSF Announces Dividend

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

Institutional Investors Weigh In On BGSF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tieton Capital Management LLC increased its stake in 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 buying an additional 130,511 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of BGSF by 28.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 31,835 shares of the company’s stock worth $306,000 after purchasing an additional 7,026 shares during the last quarter. Bridge City Capital LLC purchased a new stake in shares of BGSF during the 3rd quarter worth approximately $118,000. North Star Investment Management Corp. increased its stake in shares of BGSF by 5.9% during the 4th quarter. North Star Investment Management Corp. now owns 725,573 shares of the company’s stock worth $6,820,000 after purchasing an additional 40,290 shares during the last quarter. Finally, Arete Wealth Advisors LLC purchased a new stake in shares of BGSF during the 3rd quarter worth approximately $179,000. Hedge funds and other institutional investors own 37.19% of the company’s stock.

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.