Barrett Business Services (NASDAQ:BBSI) Share Price Crosses Above Two Hundred Day Moving Average of $30.31

Shares of Barrett Business Services, Inc. (NASDAQ:BBSI) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $30.31 and traded as high as $32.94. Barrett Business Services shares last traded at $32.75, with a volume of 67,660 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BBSI. Barrington Research reiterated an “outperform” rating and issued a $35.25 target price on shares of Barrett Business Services in a report on Tuesday, May 28th. Sidoti lowered shares of Barrett Business Services from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a report on Wednesday, June 5th. Finally, StockNews.com cut shares of Barrett Business Services from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 29th.

Barrett Business Services Price Performance

The stock has a market cap of $857.07 million, a price-to-earnings ratio of 17.97, a P/E/G ratio of 1.18 and a beta of 1.38. The stock’s 50-day moving average is $32.13 and its 200 day moving average is $30.31.

Barrett Business Services (NASDAQ:BBSI) last posted its earnings results on Wednesday, May 1st. The business services provider reported $0.00 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.08. The firm had revenue of $265.78 million during the quarter, compared to the consensus estimate of $1.88 billion. Barrett Business Services had a net margin of 4.60% and a return on equity of 26.58%. During the same period last year, the firm posted $0.03 EPS. Analysts anticipate that Barrett Business Services, Inc. will post 1.99 EPS for the current year.

Barrett Business Services Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Thursday, May 16th. Barrett Business Services’s dividend payout ratio is currently 16.46%.

Insider Activity at Barrett Business Services

In related news, Director Thomas B. Cusick sold 2,400 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $33.01, for a total transaction of $79,230.00. Following the transaction, the director now directly owns 26,192 shares of the company’s stock, valued at approximately $864,663.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Barrett Business Services

A number of hedge funds have recently bought and sold shares of the company. Private Capital Management LLC increased its holdings in shares of Barrett Business Services by 0.5% in the 4th quarter. Private Capital Management LLC now owns 346,058 shares of the business services provider’s stock worth $40,074,000 after acquiring an additional 1,575 shares during the period. Wellington Management Group LLP grew its holdings in shares of Barrett Business Services by 10.8% during the 4th quarter. Wellington Management Group LLP now owns 193,903 shares of the business services provider’s stock valued at $22,454,000 after acquiring an additional 18,897 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Barrett Business Services by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 84,945 shares of the business services provider’s stock worth $9,837,000 after purchasing an additional 1,252 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Barrett Business Services by 121.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 45,879 shares of the business services provider’s stock valued at $5,814,000 after acquiring an additional 25,165 shares during the last quarter. Finally, Hillsdale Investment Management Inc. raised its holdings in Barrett Business Services by 8.7% in the 1st quarter. Hillsdale Investment Management Inc. now owns 42,470 shares of the business services provider’s stock worth $5,382,000 after acquiring an additional 3,400 shares during the period. 86.76% of the stock is currently owned by institutional investors and hedge funds.

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.