Short Interest in Barrett Business Services, Inc. (NASDAQ:BBSI) Increases By 7.6%

Barrett Business Services, Inc. (NASDAQ:BBSI) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 496,400 shares, an increase of 7.6% from the October 31st total of 461,500 shares. Based on an average daily volume of 126,400 shares, the days-to-cover ratio is presently 3.9 days.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. StockNews.com raised Barrett Business Services from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Barrington Research boosted their price objective on Barrett Business Services from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Roth Mkm raised their target price on Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Barrett Business Services Stock Performance

Barrett Business Services stock opened at $43.30 on Wednesday. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 1.45 and a beta of 1.42. Barrett Business Services has a 1 year low of $27.06 and a 1 year high of $43.82. The firm’s 50 day moving average price is $39.07 and its two-hundred day moving average price is $35.99.

Barrett Business Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Friday, November 22nd. Barrett Business Services’s dividend payout ratio (DPR) is presently 16.89%.

Insider Activity at Barrett Business Services

In related news, Director Thomas B. Cusick sold 3,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $43.41, for a total value of $130,230.00. Following the completion of the sale, the director now owns 27,776 shares of the company’s stock, valued at $1,205,756.16. This represents a 9.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joseph Stephen Clabby bought 1,635 shares of the stock in a transaction on Tuesday, November 12th. The shares were bought at an average cost of $43.01 per share, for a total transaction of $70,321.35. Following the purchase, the director now owns 11,327 shares in the company, valued at $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.

Institutional Investors Weigh In On Barrett Business Services

Several hedge funds have recently modified their holdings of the stock. CWM LLC raised 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 worth $28,000 after buying an additional 841 shares during the period. Truvestments Capital LLC purchased a new position in shares of Barrett Business Services in the third quarter worth approximately $34,000. Westside Investment Management Inc. acquired a new stake in shares of Barrett Business Services during the third quarter valued at approximately $34,000. Amalgamated Bank lifted its position in shares of Barrett Business Services by 300.0% in the 2nd quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 702 shares in the last quarter. Finally, Huntington National Bank acquired a new position in Barrett Business Services in the 3rd quarter worth approximately $39,000. 86.76% of the stock is owned by hedge funds and other 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.