Barrett Business Services, Inc. (NASDAQ:BBSI) Short Interest Up 20.1% in March

Barrett Business Services, Inc. (NASDAQ:BBSI) saw a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 849,756 shares, a growth of 20.1% from the February 26th total of 707,540 shares. Based on an average trading volume of 370,346 shares, the days-to-cover ratio is currently 2.3 days. Approximately 3.5% of the company’s shares are sold short.

Insider Activity at Barrett Business Services

In related news, CEO Gary Kramer acquired 8,370 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were acquired at an average cost of $26.89 per share, for a total transaction of $225,069.30. Following the completion of the transaction, the chief executive officer directly owned 328,801 shares in the company, valued at approximately $8,841,458.89. This trade represents a 2.61% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James R. Potts sold 1,803 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $28.68, for a total value of $51,710.04. Following the completion of the sale, the executive vice president directly owned 33,837 shares of the company’s stock, valued at $970,445.16. The trade was a 5.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Barrett Business Services

Several large investors have recently modified their holdings of the business. State of New Jersey Common Pension Fund D boosted its holdings in Barrett Business Services by 1.0% in the third quarter. State of New Jersey Common Pension Fund D now owns 45,971 shares of the business services provider’s stock worth $2,037,000 after acquiring an additional 477 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Barrett Business Services by 2.9% during the second quarter. Hsbc Holdings PLC now owns 17,036 shares of the business services provider’s stock worth $709,000 after acquiring an additional 482 shares during the last quarter. Swiss National Bank increased its holdings in shares of Barrett Business Services by 1.0% during the third quarter. Swiss National Bank now owns 49,800 shares of the business services provider’s stock valued at $2,207,000 after acquiring an additional 500 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Barrett Business Services by 63.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,456 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 563 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Barrett Business Services by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,219 shares of the business services provider’s stock valued at $626,000 after purchasing an additional 633 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

Barrett Business Services Stock Performance

NASDAQ BBSI traded down $0.14 on Wednesday, reaching $29.04. 160,503 shares of the stock traded hands, compared to its average volume of 259,917. The company has a fifty day moving average price of $31.80 and a 200-day moving average price of $36.55. The company has a market cap of $731.90 million, a price-to-earnings ratio of 13.87, a PEG ratio of 1.04 and a beta of 1.03. Barrett Business Services has a 12 month low of $25.33 and a 12 month high of $49.65.

Barrett Business Services (NASDAQ:BBSI) last posted its quarterly earnings results on Wednesday, February 25th. The business services provider reported $0.64 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.64. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $323.43 million. Barrett Business Services had a return on equity of 23.67% and a net margin of 4.39%.The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 EPS. As a group, research analysts anticipate that Barrett Business Services will post 2 earnings per share for the current fiscal year.

Barrett Business Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.1%. Barrett Business Services’s dividend payout ratio (DPR) is 15.31%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Barrett Business Services in a research note on Monday, December 29th. Roth Mkm cut their price target on shares of Barrett Business Services from $54.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Zacks Research downgraded shares of Barrett Business Services from a “hold” rating to a “strong sell” rating in a research note on Friday, February 27th. CJS Securities upgraded shares of Barrett Business Services to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Barrington Research lowered their price objective on shares of Barrett Business Services from $46.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.50.

About Barrett Business Services

Barrett Business Services, Inc (NASDAQ: BBSI) is a professional employer organization (PEO) headquartered in Northridge, California. Founded in 1971 by Barrett K. Levesque, the company provides comprehensive human resources outsourcing solutions to small and mid-sized businesses. Through its consultative model, Barrett Business Services helps clients streamline administrative processes, mitigate regulatory risk and focus on core operations.

The company’s core offerings include payroll administration, employee benefits management, workers’ compensation and risk management services.