Barrett Business Services (NASDAQ:BBSI) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Barrett Business Services, Inc. (NASDAQ:BBSI)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $38.87 and traded as high as $44.01. Barrett Business Services shares last traded at $43.85, with a volume of 65,701 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BBSI. Roth Mkm raised their target price on Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, November 7th. StockNews.com upgraded Barrett Business Services from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $45.00 target price on shares of Barrett Business Services in a research report on Wednesday, December 11th.

Barrett Business Services Trading Up 0.7 %

The firm has a 50-day moving average of $43.08 and a two-hundred day moving average of $38.87. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 1.33 and a beta of 1.42.

Barrett Business Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.32 annualized dividend and a dividend yield of 0.73%. Barrett Business Services’s dividend payout ratio is 16.89%.

Insider Buying and Selling

In related news, Director Thomas J. Carley sold 4,584 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.24, for a total transaction of $189,044.16. Following the transaction, the director now directly owns 91,628 shares in the company, valued at $3,778,738.72. The trade was a 4.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas B. Cusick sold 3,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $43.41, for a total value of $130,230.00. Following the transaction, the director now owns 27,776 shares in the company, valued at $1,205,756.16. This represents a 9.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Barrett Business Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new position in Barrett Business Services during the third quarter valued at about $34,000. Westside Investment Management Inc. bought a new position in Barrett Business Services during the third quarter valued at about $34,000. Amalgamated Bank boosted its holdings in Barrett Business Services by 300.0% during the second quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 702 shares in the last quarter. Huntington National Bank acquired a new stake in Barrett Business Services during the third quarter valued at approximately $39,000. Finally, USA Financial Formulas acquired a new stake in Barrett Business Services during the third quarter valued at approximately $60,000. 86.76% of the stock is currently owned by institutional investors.

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.