BG Staffing Inc (BGSF) Short Interest Up 20.8% in January

BG Staffing Inc (NYSEAMERICAN:BGSF) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 210,482 shares, an increase of 20.8% from the January 15th total of 174,311 shares. Based on an average trading volume of 46,807 shares, the days-to-cover ratio is presently 4.5 days. Approximately 2.4% of the shares of the company are short sold.

In other BG Staffing news, Director Douglas Hailey sold 15,000 shares of BG Staffing stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $25.01, for a total transaction of $375,150.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dan Hollenbach sold 2,000 shares of BG Staffing stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $25.00, for a total value of $50,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,933 shares of company stock valued at $807,440.

Several hedge funds have recently modified their holdings of BGSF. Bank of America Corp DE lifted its holdings in shares of BG Staffing by 83.2% in the 2nd 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 during the period. Rhumbline Advisers acquired a new position in shares of BG Staffing in the 4th quarter valued at about $212,000. Financial Gravity Wealth Inc. acquired a new position in shares of BG Staffing in the 3rd quarter valued at about $224,000. GSA Capital Partners LLP acquired a new position in shares of BG Staffing in the 3rd quarter valued at about $242,000. Finally, Financial Gravity Companies Inc. acquired a new position in shares of BG Staffing in the 4th quarter valued at about $261,000.

Shares of BGSF stock traded up $0.48 on Monday, hitting $26.98. The company had a trading volume of 76,100 shares, compared to its average volume of 47,868. BG Staffing has a twelve month low of $16.18 and a twelve month high of $29.59.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 26th. Stockholders of record on Tuesday, February 19th will be issued a $0.30 dividend. The ex-dividend date is Friday, February 15th. This represents a $1.20 annualized dividend and a dividend yield of 4.45%.

A number of brokerages have commented on BGSF. Zacks Investment Research cut BG Staffing from a “buy” rating to a “hold” rating in a research report on Tuesday, January 8th. Taglich Brothers reaffirmed a “speculative buy” rating on shares of BG Staffing in a research report on Tuesday, November 6th.

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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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