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

Barrett Business Services, Inc. (NASDAQ:BBSI) was the recipient of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 717,409 shares, a growth of 22.0% from the January 29th total of 587,988 shares. Based on an average trading volume of 217,815 shares, the short-interest ratio is currently 3.3 days. Currently, 2.9% of the company’s stock are sold short. Currently, 2.9% of the company’s stock are sold short. Based on an average trading volume of 217,815 shares, the short-interest ratio is currently 3.3 days.

Barrett Business Services Price Performance

Shares of Barrett Business Services stock opened at $29.10 on Thursday. The stock has a market cap of $733.32 million, a price-to-earnings ratio of 13.92, a PEG ratio of 0.97 and a beta of 1.02. The firm’s 50-day moving average is $35.28 and its 200 day moving average is $39.20. Barrett Business Services has a 1 year low of $25.33 and a 1 year high of $49.65.

Barrett Business Services (NASDAQ:BBSI) last released its quarterly earnings data on Wednesday, February 25th. The business services provider reported $0.64 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.64. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $323.43 million. Barrett Business Services had a net margin of 4.39% and a return on equity of 23.67%. Barrett Business Services’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $0.63 EPS. On average, equities analysts expect that Barrett Business Services will post 2 EPS for the current fiscal year.

Barrett Business Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, March 13th. Barrett Business Services’s payout ratio is presently 15.31%.

Institutional Trading of Barrett Business Services

Several institutional investors have recently added to or reduced their stakes in BBSI. Tripletail Wealth Management LLC purchased a new position in shares of Barrett Business Services in the third quarter worth $34,000. Kestra Advisory Services LLC purchased a new stake in shares of Barrett Business Services during the fourth quarter valued at $39,000. Farther Finance Advisors LLC increased its holdings in Barrett Business Services by 1,388.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 893 shares of the business services provider’s stock worth $40,000 after buying an additional 833 shares in the last quarter. Bard Associates Inc. purchased a new position in Barrett Business Services in the 4th quarter worth about $50,000. Finally, AlphaQuest LLC purchased a new position in Barrett Business Services in the 3rd quarter worth about $54,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Barrett Business Services Company Profile

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.