BGSF (NYSE:BGSF) Issues Earnings Results, Misses Estimates By $0.22 EPS

BGSF (NYSE:BGSF) released its quarterly earnings results on Wednesday. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.22), FiscalAI reports. BGSF had a negative net margin of 11.98% and a negative return on equity of 18.91%. The firm had revenue of $22.31 million for the quarter, compared to analysts’ expectations of $24.50 million.

BGSF Price Performance

BGSF stock traded up $0.04 during mid-day trading on Wednesday, hitting $5.62. The company’s stock had a trading volume of 8,748 shares, compared to its average volume of 20,304. The business has a 50 day moving average price of $5.46 and a 200-day moving average price of $5.72. BGSF has a 12 month low of $3.25 and a 12 month high of $8.22. The stock has a market cap of $60.25 million, a price-to-earnings ratio of -5.62 and a beta of 0.46.

Institutional Investors Weigh In On BGSF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in BGSF by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 112,454 shares of the company’s stock worth $521,000 after purchasing an additional 1,936 shares during the period. Bridgeway Capital Management LLC boosted its position in BGSF by 4.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 95,550 shares of the company’s stock valued at $442,000 after buying an additional 4,262 shares during the period. Empowered Funds LLC grew its holdings in BGSF by 14.2% in the 4th quarter. Empowered Funds LLC now owns 34,350 shares of the company’s stock worth $159,000 after acquiring an additional 4,262 shares during the last quarter. Vanguard Group Inc. increased its position in shares of BGSF by 2.0% in the third quarter. Vanguard Group Inc. now owns 537,706 shares of the company’s stock valued at $3,818,000 after acquiring an additional 10,546 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its position in shares of BGSF by 89.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 45,484 shares of the company’s stock valued at $211,000 after acquiring an additional 21,503 shares during the period. Institutional investors own 37.19% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of BGSF in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce”.

BGSF Company Profile

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.