Short Interest in Barrett Business Services, Inc. (NASDAQ:BBSI) Rises By 14.8%

Barrett Business Services, Inc. (NASDAQ:BBSI) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 68,100 shares, a growth of 14.8% from the August 15th total of 59,300 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average trading volume of 28,000 shares, the short-interest ratio is presently 2.4 days.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BBSI shares. StockNews.com raised Barrett Business Services from a “buy” rating to a “strong-buy” rating in a research report on Monday. Barrington Research reiterated an “outperform” rating and issued a $104.00 price target on shares of Barrett Business Services in a research note on Thursday, August 3rd.

Barrett Business Services Trading Down 1.1 %

Shares of NASDAQ:BBSI traded down $1.05 during trading on Tuesday, hitting $90.43. 23,765 shares of the company were exchanged, compared to its average volume of 45,237. The stock has a market cap of $608.59 million, a price-to-earnings ratio of 13.69, a P/E/G ratio of 0.97 and a beta of 1.37. Barrett Business Services has a fifty-two week low of $75.94 and a fifty-two week high of $100.85. The firm has a fifty day moving average price of $93.17 and a two-hundred day moving average price of $88.75.

Barrett Business Services (NASDAQ:BBSI) last posted its quarterly earnings results on Wednesday, August 2nd. The business services provider reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.62. Barrett Business Services had a net margin of 4.39% and a return on equity of 26.72%. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.94 billion. As a group, research analysts predict that Barrett Business Services will post 6.78 EPS for the current year.

Barrett Business Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Thursday, August 17th. Barrett Business Services’s payout ratio is presently 17.96%.

Insider Buying and Selling at Barrett Business Services

In other Barrett Business Services news, Director Thomas J. Carley sold 1,359 shares of the stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $86.01, for a total value of $116,887.59. Following the completion of the sale, the director now directly owns 22,907 shares in the company, valued at $1,970,231.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of Barrett Business Services

Several institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in Barrett Business Services by 80.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 306 shares of the business services provider’s stock worth $27,000 after buying an additional 136 shares during the period. Dorsey Wright & Associates purchased a new position in Barrett Business Services during the fourth quarter valued at approximately $29,000. PNC Financial Services Group Inc. raised its holdings in shares of Barrett Business Services by 25.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 584 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 120 shares in the last quarter. Vestcor Inc purchased a new position in shares of Barrett Business Services in the 4th quarter worth about $93,000. Finally, Lazard Asset Management LLC lifted its stake in shares of Barrett Business Services by 26.9% in the 1st quarter. Lazard Asset Management LLC now owns 1,029 shares of the business services provider’s stock valued at $79,000 after acquiring an additional 218 shares during the last quarter. 85.91% 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.