Barrett Business Services, Inc. (NASDAQ:BBSI) Short Interest Update
Barrett Business Services, Inc. (NASDAQ:BBSI – Get Rating) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 89,400 shares, a drop of 13.7% from the August 15th total of 103,600 shares. Currently, 1.3% of the company’s shares are sold short. Based on an average daily trading volume, of 43,200 shares, the short-interest ratio is presently 2.1 days.
Wall Street Analysts Forecast Growth
BBSI has been the subject of a number of recent research reports. TheStreet upgraded shares of Barrett Business Services from a “c+” rating to a “b” rating in a research note on Friday, August 19th. Sidoti reaffirmed a “buy” rating and set a $97.00 price objective on shares of Barrett Business Services in a report on Tuesday, June 14th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $102.33.
Insider Buying and Selling
In related news, Director Jon L. Justesen sold 2,836 shares of Barrett Business Services stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $84.44, for a total transaction of $239,471.84. Following the sale, the director now directly owns 7,777 shares in the company, valued at approximately $656,689.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.00% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Barrett Business Services
Several institutional investors have recently added to or reduced their stakes in BBSI. First Trust Advisors LP lifted its holdings in Barrett Business Services by 13.3% during the fourth quarter. First Trust Advisors LP now owns 12,174 shares of the business services provider’s stock valued at $841,000 after purchasing an additional 1,429 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Barrett Business Services by 62.7% during the fourth quarter. BNP Paribas Arbitrage SA now owns 3,544 shares of the business services provider’s stock valued at $245,000 after purchasing an additional 1,366 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Barrett Business Services by 4.1% during the fourth quarter. JPMorgan Chase & Co. now owns 249,960 shares of the business services provider’s stock valued at $17,262,000 after purchasing an additional 9,953 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Barrett Business Services by 7.4% during the fourth quarter. Renaissance Technologies LLC now owns 254,478 shares of the business services provider’s stock valued at $17,574,000 after purchasing an additional 17,478 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in Barrett Business Services by 7.1% during the fourth quarter. GSA Capital Partners LLP now owns 15,793 shares of the business services provider’s stock valued at $1,091,000 after purchasing an additional 1,046 shares during the last quarter.
Barrett Business Services Stock Performance
Shares of NASDAQ:BBSI opened at $80.20 on Friday. The company’s 50-day moving average is $80.75 and its 200 day moving average is $76.33. The company has a market capitalization of $568.62 million, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 0.92 and a beta of 1.37. Barrett Business Services has a fifty-two week low of $57.76 and a fifty-two week high of $86.82.
Barrett Business Services (NASDAQ:BBSI – Get Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The business services provider reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.61. Barrett Business Services had a net margin of 4.33% and a return on equity of 22.59%. During the same period in the prior year, the company posted $2.24 EPS. As a group, research analysts predict that Barrett Business Services will post 6.3 earnings per share for the current year.
Barrett Business Services Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Friday, August 19th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.50%. The ex-dividend date was Thursday, August 18th. Barrett Business Services’s dividend payout ratio (DPR) is presently 20.41%.
About Barrett Business Services
Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. The company develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry.
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