BG Staffing Inc (BGSF) Director Sells $104,400.00 in Stock

BG Staffing Inc (NYSEAMERICAN:BGSF) Director C. David Allen, Jr. sold 3,750 shares of the stock in a transaction on Friday, August 24th. The stock was sold at an average price of $27.84, for a total value of $104,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

BGSF stock traded down $0.05 during trading hours on Monday, hitting $27.64. 117,000 shares of the stock traded hands, compared to its average volume of 59,345. BG Staffing Inc has a one year low of $14.45 and a one year high of $29.59.

BG Staffing (NYSEAMERICAN:BGSF) last announced its earnings results 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. BG Staffing had a return on equity of 30.25% and a net margin of 4.40%. The business had revenue of $70.95 million during the quarter, compared to analysts’ expectations of $72.12 million.

The company also recently announced a quarterly dividend, which was paid on Monday, August 13th. Investors of record on Monday, August 6th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, August 3rd. This represents a $1.20 annualized dividend and a yield of 4.34%.

A number of hedge funds have recently made changes to their positions in BGSF. Globeflex Capital L P bought a new position in BG Staffing during the second quarter valued at about $109,000. Bank of America Corp DE boosted its stake in BG Staffing by 83.2% during the second quarter. Bank of America Corp DE now owns 5,995 shares of the business services provider’s stock valued at $139,000 after buying an additional 2,722 shares in the last quarter. Bank of Montreal Can bought a new position in BG Staffing during the second quarter valued at about $191,000. First Trust Advisors LP purchased a new stake in shares of BG Staffing during the second quarter valued at $214,000. Finally, Deutsche Bank AG lifted its holdings in shares of BG Staffing by 119.9% during the fourth quarter. Deutsche Bank AG now owns 15,715 shares of the business services provider’s stock valued at $248,000 after purchasing an additional 8,570 shares during the last quarter.

Separately, Zacks Investment Research raised BG Staffing from a “hold” rating to a “strong-buy” rating and set a $30.00 price target for the company in a research note on Tuesday, July 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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