Bank of New York Mellon Corp Lowers Position in BGSF, Inc. (NYSE:BGSF)

Bank of New York Mellon Corp decreased its holdings in BGSF, Inc. (NYSE:BGSF) by 85.0% in the second quarter, HoldingsChannel.com reports. The fund owned 12,498 shares of the company’s stock after selling 70,547 shares during the quarter. Bank of New York Mellon Corp’s holdings in BGSF were worth $107,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. SpiderRock Advisors LLC bought a new position in BGSF in the first quarter worth approximately $114,000. Bridge City Capital LLC lifted its holdings in shares of BGSF by 17.9% during the 1st quarter. Bridge City Capital LLC now owns 40,576 shares of the company’s stock valued at $422,000 after purchasing an additional 6,160 shares during the last quarter. Prosperity Consulting Group LLC purchased a new stake in shares of BGSF during the 1st quarter valued at $520,000. Perritt Capital Management Inc. raised its stake in BGSF by 5.9% in the 1st quarter. Perritt Capital Management Inc. now owns 66,105 shares of the company’s stock worth $688,000 after acquiring an additional 3,679 shares during the last quarter. Finally, North Star Investment Management Corp. raised its stake in shares of BGSF by 1.3% during the 1st quarter. North Star Investment Management Corp. now owns 735,073 shares of the company’s stock valued at $7,652,000 after buying an additional 9,500 shares during the last quarter. Institutional investors own 37.19% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut BGSF from a “buy” rating to a “hold” rating in a report on Friday, June 14th.

BGSF Trading Down 0.8 %

Shares of BGSF stock opened at $7.11 on Friday. The stock has a market cap of $77.90 million, a P/E ratio of 13.67 and a beta of 1.64. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.02 and a quick ratio of 2.02. The stock’s 50 day simple moving average is $7.92 and its 200-day simple moving average is $8.26. BGSF, Inc. has a 1-year low of $6.40 and a 1-year high of $10.74.

BGSF (NYSE:BGSF) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.15). The firm had revenue of $68.14 million for the quarter, compared to analysts’ expectations of $74.00 million. BGSF had a net margin of 0.71% and a return on equity of 5.79%. During the same period in the previous year, the firm posted $0.24 EPS. Analysts predict that BGSF, Inc. will post 0.06 EPS for the current fiscal year.

BGSF 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.