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

Barrett Business Services, Inc. (NASDAQ:BBSI) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 643,400 shares, a growth of 6.6% from the December 15th total of 603,500 shares. Based on an average daily volume of 119,000 shares, the short-interest ratio is presently 5.4 days.

Analysts Set New Price Targets

Several equities analysts recently commented on BBSI shares. StockNews.com upgraded Barrett Business Services from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Roth Mkm increased their price target on Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Barrington Research restated an “outperform” rating and issued a $45.00 price objective on shares of Barrett Business Services in a research note on Wednesday, December 11th.

Barrett Business Services Stock Down 0.2 %

Shares of NASDAQ:BBSI traded down $0.08 during midday trading on Friday, reaching $43.86. 127,873 shares of the company traded hands, compared to its average volume of 92,679. The firm’s fifty day moving average price is $42.87 and its two-hundred day moving average price is $38.35. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 23.15, a price-to-earnings-growth ratio of 1.25 and a beta of 1.42. Barrett Business Services has a 12 month low of $27.06 and a 12 month high of $44.97.

Barrett Business Services Announces Dividend

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

Insiders Place Their Bets

In related news, Director Thomas B. Cusick sold 3,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $43.41, for a total transaction of $130,230.00. Following the completion of the transaction, the director now owns 27,776 shares in the company, valued at approximately $1,205,756.16. This represents a 9.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Stephen Clabby acquired 1,635 shares of the stock in a transaction on Tuesday, November 12th. The stock was bought at an average cost of $43.01 per share, for a total transaction of $70,321.35. Following the transaction, the director now owns 11,327 shares of the company’s stock, valued at approximately $487,174.27. This trade represents a 16.87 % increase in their position. The disclosure for this purchase can be found here. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Barrett Business Services

A number of large investors have recently modified their holdings of the company. Amalgamated Bank lifted its stake 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 purchasing an additional 702 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of Barrett Business Services in the third quarter worth $34,000. Westside Investment Management Inc. purchased a new stake in shares of Barrett Business Services in the third quarter worth $34,000. Huntington National Bank purchased a new stake in shares of Barrett Business Services in the third quarter worth $39,000. Finally, USA Financial Formulas bought a new stake in Barrett Business Services during the third quarter valued at $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.