Short Interest in Barrett Business Services, Inc. (NASDAQ:BBSI) Declines By 8.9%

Barrett Business Services, Inc. (NASDAQ:BBSI) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 399,800 shares, a decrease of 8.9% from the August 15th total of 438,700 shares. Based on an average daily volume of 170,500 shares, the short-interest ratio is currently 2.3 days.

Barrett Business Services Price Performance

NASDAQ BBSI traded down $0.09 on Wednesday, reaching $36.90. The stock had a trading volume of 36,835 shares, compared to its average volume of 141,072. The company has a market cap of $965.56 million, a P/E ratio of 20.32, a price-to-earnings-growth ratio of 1.20 and a beta of 1.38. Barrett Business Services has a 1-year low of $21.59 and a 1-year high of $37.32. The firm has a fifty day moving average of $35.26 and a two-hundred day moving average of $32.80.

Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. The company had revenue of $279.60 million during the quarter, compared to the consensus estimate of $273.13 million. Barrett Business Services had a net margin of 4.50% and a return on equity of 25.69%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 EPS. Research analysts predict that Barrett Business Services will post 1.99 EPS for the current fiscal year.

Barrett Business Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a $0.08 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.87%. This is a positive change from Barrett Business Services’s previous quarterly dividend of $0.08. Barrett Business Services’s dividend payout ratio is currently 17.58%.

Analyst Ratings Changes

A number of equities analysts have weighed in on BBSI shares. Roth Mkm lifted their price objective on Barrett Business Services from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. StockNews.com cut Barrett Business Services from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 29th. Sidoti downgraded Barrett Business Services from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a report on Wednesday, June 5th. Finally, Barrington Research lifted their price target on Barrett Business Services from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st.

Insider Transactions at Barrett Business Services

In other news, CEO Gary Kramer sold 34,288 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $35.05, for a total transaction of $1,201,794.40. Following the completion of the transaction, the chief executive officer now directly owns 242,543 shares of the company’s stock, valued at $8,501,132.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 35,133 shares of company stock worth $1,231,357. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Barrett Business Services

A number of large investors have recently made changes to their positions in the stock. CWM LLC grew its holdings in Barrett Business Services by 12,014.3% during the 2nd quarter. CWM LLC now owns 848 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 841 shares during the last quarter. Amalgamated Bank boosted its holdings in Barrett Business Services by 300.0% in the 2nd quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock worth $31,000 after buying an additional 702 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Barrett Business Services by 415.2% during the second quarter. Nisa Investment Advisors LLC now owns 2,906 shares of the business services provider’s stock worth $95,000 after acquiring an additional 2,342 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Barrett Business Services by 300.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the business services provider’s stock worth $107,000 after buying an additional 2,460 shares during the last quarter. Finally, Perkins Coie Trust Co purchased a new stake in shares of Barrett Business Services in the 2nd quarter valued at approximately $118,000. 86.76% of the stock is currently owned by institutional investors.

Barrett Business Services Company Profile

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.