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

Barrett Business Services, Inc. (NASDAQ:BBSI) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 461,500 shares, a decline of 5.4% from the October 15th total of 487,600 shares. Based on an average daily trading volume, of 126,200 shares, the days-to-cover ratio is presently 3.7 days.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BBSI. StockNews.com raised shares of Barrett Business Services from a “hold” rating to a “buy” rating in a research report on Tuesday. Roth Mkm raised their price objective on Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Barrington Research upped their target price on Barrett Business Services from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th.

Insiders Place Their Bets

In related news, Director Thomas J. Carley sold 4,584 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.24, for a total transaction of $189,044.16. Following the completion of the sale, the director now directly owns 91,628 shares of the company’s stock, valued at approximately $3,778,738.72. This trade represents a 4.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Stephen Clabby acquired 1,635 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average price of $43.01 per share, with a total value of $70,321.35. Following the acquisition, the director now owns 11,327 shares in the company, valued at $487,174.27. This trade represents a 16.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Barrett Business Services

Several institutional investors have recently added to or reduced their stakes in BBSI. BNP Paribas Financial Markets increased its stake in shares of Barrett Business Services by 10.3% in the first quarter. BNP Paribas Financial Markets now owns 5,462 shares of the business services provider’s stock worth $692,000 after acquiring an additional 509 shares during the period. Quadrature Capital Ltd increased its stake in shares of Barrett Business Services by 74.4% in the 1st quarter. Quadrature Capital Ltd now owns 10,435 shares of the business services provider’s stock worth $1,318,000 after acquiring an additional 4,450 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of Barrett Business Services by 64.4% during the 1st quarter. Lazard Asset Management LLC now owns 2,546 shares of the business services provider’s stock valued at $322,000 after buying an additional 997 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Barrett Business Services by 152.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,610 shares of the business services provider’s stock valued at $1,346,000 after purchasing an additional 6,399 shares during the last quarter. Finally, Aristides Capital LLC acquired a new stake in Barrett Business Services in the 1st quarter valued at approximately $277,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Barrett Business Services Stock Up 0.4 %

Shares of BBSI stock opened at $41.61 on Wednesday. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 1.39 and a beta of 1.39. The company’s 50 day moving average is $37.83 and its 200 day moving average is $35.16. Barrett Business Services has a 52-week low of $26.60 and a 52-week high of $43.29.

Barrett Business Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.77%. The ex-dividend date is Friday, November 22nd. Barrett Business Services’s dividend payout ratio is currently 16.89%.

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.