Barrett Business Services, Inc. (NASDAQ:BBSI) Sees Significant Growth in Short Interest

Barrett Business Services, Inc. (NASDAQ:BBSI – Get Rating) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 105,300 shares, an increase of 82.2{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} from the February 28th total of 57,800 shares. Based on an average daily volume of 55,100 shares, the short-interest ratio is presently 1.9 days. Currently, 1.5{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} of the company’s shares are short sold.

A number of institutional investors have recently modified their holdings of the stock. Confluence Wealth Services Inc. acquired a new position in Barrett Business Services during the 4th quarter valued at about $27,000. New York State Teachers Retirement System acquired a new position in Barrett Business Services during the 3rd quarter valued at about $46,000. Denali Advisors LLC acquired a new position in Barrett Business Services during the 4th quarter valued at about $76,000. BNP Paribas Arbitrage SA boosted its stake in Barrett Business Services by 100.9{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} during the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,178 shares of the business services provider’s stock valued at $166,000 after purchasing an additional 1,094 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY boosted its stake in Barrett Business Services by 116,250.0{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 2,327 shares of the business services provider’s stock valued at $169,000 after purchasing an additional 2,325 shares during the last quarter. 82.40{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} of the stock is owned by institutional investors and hedge funds.

BBSI stock opened at $77.65 on Monday. The stock has a 50-day moving average price of $66.91 and a 200-day moving average price of $72.04. Barrett Business Services has a 1-year low of $57.76 and a 1-year high of $86.82. The firm has a market cap of $576.40 million, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.26 and a beta of 1.48.

Barrett Business Services (NASDAQ:BBSI – Get Rating) last issued its earnings results on Wednesday, March 2nd. The business services provider reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.43. Barrett Business Services had a return on equity of 19.04{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} and a net margin of 3.99{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the company posted $0.93 EPS. On average, equities analysts forecast that Barrett Business Services will post 5.14 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 1st. Investors of record on Friday, March 18th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.55{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}. The ex-dividend date is Thursday, March 17th. Barrett Business Services’s payout ratio is 24.00{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}.

Several research analysts recently issued reports on the company. StockNews.com raised Barrett Business Services from a “hold” rating to a “buy” rating in a research report on Saturday, March 12th. Barrington Research lowered their price objective on Barrett Business Services from $95.00 to $85.00 in a research report on Thursday, March 3rd. Zacks Investment Research raised Barrett Business Services from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Friday, March 4th. Finally, Roth Capital lifted their price objective on Barrett Business Services from $96.00 to $108.00 in a research report on Thursday, March 3rd. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Barrett Business Services currently has a consensus rating of “Buy” and a consensus price target of $91.00.

About Barrett Business Services (Get Rating)

Barrett Business Services, Inc engages in the provision of business management solutions for small and mid-sized companies. It develops management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. It focuses on professional employer, and staffing and recruiting services.

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