BGSF, Inc. (NYSE:BGSF) director Allen C. David Jr has reported the purchase of company shares valued at more than $75,000, according to a recent SEC filing. The transactions, which took place on May 28th and 29th, show a continued investment by the director into the staffing services firm.
The filing details the acquisition of 11,500 shares at prices ranging from $6.50 to $6.65 per share. On May 28th, Allen purchased 3,209 shares at $6.60 each and an additional 1,000 shares at $6.65. The following day, he acquired another 6,791 shares at $6.60 each and 500 shares at $6.50. The total amount invested over these two days reached $75,900.
Allen's confidence in BGSF is reflected in his growing stake in the company. Following these purchases, he directly owns 60,282 shares, with an additional 7,500 shares held indirectly, bringing his total reported ownership to 67,782 shares.
Investors often monitor insider buying as it can signal executives' belief in the company's future performance. With this recent filing, Allen C. David Jr has demonstrated a significant commitment to BGSF, Inc., which may be of interest to current and potential shareholders.
InvestingPro Insights
As BGSF, Inc. (NYSE:BGSF) sees increased insider buying activity, investors might be curious about the company's current financial standing and market sentiment. According to InvestingPro data, BGSF currently has a market capitalization of approximately $71.9 million and offers a substantial dividend yield of 9.17%, notable for income-seeking investors. The P/E ratio, a measure of the company's current share price relative to its per-share earnings, stands at 12.04 for the last twelve months as of Q1 2024, which may suggest the stock is reasonably valued compared to industry peers. Furthermore, the company has reported a gross profit margin of 35.37% over the same period, indicating a strong ability to manage costs relative to revenue.
Two key InvestingPro Tips can shed light on the potential investment opportunity in BGSF. Firstly, the stock's RSI suggests it is currently in oversold territory, which might appeal to investors looking for entry points into the stock market. Additionally, the company has maintained dividend payments for 11 consecutive years, demonstrating a commitment to returning value to shareholders even through various market cycles. For those considering a deeper dive into BGSF, there are 11 additional InvestingPro Tips available that could further inform investment decisions, including insights into the stock's volatility and recent price trends.
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