BG Staffing Inc (BGSF) Short Interest Up 73.5% in September

BG Staffing Inc (NYSEAMERICAN:BGSF) saw a significant increase in short interest in September. As of September 14th, there was short interest totalling 157,497 shares, an increase of 73.5% from the August 31st total of 90,763 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average daily volume of 177,967 shares, the days-to-cover ratio is currently 0.9 days.

BG Staffing stock traded up $0.66 during midday trading on Tuesday, hitting $26.60. The stock had a trading volume of 53,908 shares, compared to its average volume of 69,224. BG Staffing has a 12 month low of $14.65 and a 12 month high of $29.59.

BG Staffing (NYSEAMERICAN:BGSF) last announced its quarterly earnings data on Friday, July 27th. The business services provider reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.24. The firm had revenue of $70.95 million during the quarter, compared to analyst estimates of $72.12 million. BG Staffing had a return on equity of 30.25% and a net margin of 4.40%.

In related news, Director Douglas Hailey sold 12,397 shares of the business’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $27.43, for a total value of $340,049.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Dan Hollenbach sold 6,100 shares of the business’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $27.83, for a total value of $169,763.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 211,406 shares of company stock worth $5,461,197.

A number of institutional investors have recently made changes to their positions in BGSF. Russell Investments Group Ltd. bought a new stake in BG Staffing in the second quarter valued at about $3,280,000. Mutual of America Capital Management LLC bought a new stake in BG Staffing in the second quarter valued at about $1,576,000. Dimensional Fund Advisors LP increased its holdings in BG Staffing by 192.1% in the second quarter. Dimensional Fund Advisors LP now owns 91,779 shares of the business services provider’s stock valued at $2,134,000 after buying an additional 60,359 shares during the last quarter. Acadian Asset Management LLC increased its holdings in BG Staffing by 54.1% in the second quarter. Acadian Asset Management LLC now owns 169,728 shares of the business services provider’s stock valued at $3,947,000 after buying an additional 59,576 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in BG Staffing by 11.1% in the second quarter. BlackRock Inc. now owns 376,968 shares of the business services provider’s stock valued at $8,764,000 after buying an additional 37,624 shares during the last quarter.

Separately, Zacks Investment Research lowered BG Staffing from a “buy” rating to a “hold” rating in a report on Thursday, May 31st.

About BG Staffing

BG Staffing, Inc provides temporary staffing services in the United States. It operates in three segments: Multifamily, Professional, and Commercial. The Multifamily segment offers temporary front office and maintenance personnel to the various apartment communities. The Professional segment provides skilled temporary IT professionals with expertise in SAP, Workday, Olik View, Hyperion, Oracle, project management, and other IT staffing skills, as well as finance, accounting, and related support personnel.

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