James Potts Sells 3,490 Shares of Barrett Business Services (NASDAQ:BBSI) Stock

Barrett Business Services, Inc. (NASDAQ:BBSI) EVP James Potts sold 3,490 shares of Barrett Business Services stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $38.00, for a total transaction of $132,620.00. Following the transaction, the executive vice president directly owned 32,035 shares in the company, valued at approximately $1,217,330. This represents a 9.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Barrett Business Services Price Performance

Shares of NASDAQ BBSI traded up $0.44 during midday trading on Tuesday, reaching $38.05. The company’s stock had a trading volume of 202,149 shares, compared to its average volume of 243,837. The stock has a market capitalization of $934.51 million, a P/E ratio of 24.71, a PEG ratio of 1.26 and a beta of 0.95. The firm has a 50 day moving average price of $32.60 and a 200-day moving average price of $32.78. Barrett Business Services, Inc. has a 12-month low of $25.33 and a 12-month high of $49.65.

Barrett Business Services (NASDAQ:BBSI) last issued its quarterly earnings results on Wednesday, May 6th. The business services provider reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. Barrett Business Services had a return on equity of 22.89% and a net margin of 3.24%.The business had revenue of $307.00 million for the quarter, compared to analyst estimates of $306.68 million. During the same period last year, the company posted ($0.04) earnings per share. Barrett Business Services’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts predict that Barrett Business Services, Inc. will post 1.88 EPS for the current year.

Barrett Business Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, May 22nd. Barrett Business Services’s payout ratio is presently 20.78%.

Hedge Funds Weigh In On Barrett Business Services

Several large investors have recently modified their holdings of BBSI. Kestra Advisory Services LLC bought a new stake in shares of Barrett Business Services in the fourth quarter valued at approximately $39,000. Bard Associates Inc. bought a new position in Barrett Business Services in the 4th quarter worth approximately $50,000. Farther Finance Advisors LLC grew its stake in 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 buying an additional 563 shares in the last quarter. Tripletail Wealth Management LLC lifted its position in shares of Barrett Business Services by 152.6% during the fourth quarter. Tripletail Wealth Management LLC now owns 1,920 shares of the business services provider’s stock worth $70,000 after acquiring an additional 1,160 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Barrett Business Services by 131.0% during the second quarter. GAMMA Investing LLC now owns 2,206 shares of the business services provider’s stock worth $78,000 after acquiring an additional 1,251 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Barrett Business Services from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 8th. Barrington Research reiterated an “outperform” rating and issued a $41.00 target price on shares of Barrett Business Services in a research note on Monday, April 27th. Zacks Research raised shares of Barrett Business Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Wall Street Zen upgraded shares of Barrett Business Services from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Barrett Business Services presently has a consensus rating of “Moderate Buy” and an average price target 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.