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

Barrett Business Services, Inc. (NASDAQ:BBSI) was the recipient of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 620,800 shares, a growth of 25.1% from the November 15th total of 496,400 shares. Based on an average daily volume of 126,800 shares, the short-interest ratio is currently 4.9 days.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BBSI. StockNews.com raised Barrett Business Services from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Barrington Research restated an “outperform” rating and set a $45.00 target price on shares of Barrett Business Services in a report on Wednesday. Finally, Roth Mkm upped their price target 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.

Insider Buying and Selling at Barrett Business Services

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

Hedge Funds Weigh In On Barrett Business Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BBSI. CWM LLC boosted its position in shares of Barrett Business Services by 12,014.3% during the second 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. SG Americas Securities LLC acquired a new position in Barrett Business Services during the 2nd quarter worth approximately $134,000. Assenagon Asset Management S.A. grew its stake in shares of Barrett Business Services by 88.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 86,398 shares of the business services provider’s stock worth $2,831,000 after acquiring an additional 40,519 shares in the last quarter. Lakewood Asset Management LLC raised its holdings in shares of Barrett Business Services by 310.4% in the second quarter. Lakewood Asset Management LLC now owns 9,764 shares of the business services provider’s stock valued at $320,000 after purchasing an additional 7,385 shares during the last quarter. Finally, Willner & Heller LLC lifted its position in shares of Barrett Business Services by 300.7% in the second quarter. Willner & Heller LLC now owns 38,333 shares of the business services provider’s stock worth $1,256,000 after purchasing an additional 28,767 shares in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Barrett Business Services Stock Up 0.6 %

Shares of BBSI traded up $0.28 on Friday, hitting $43.57. The company’s stock had a trading volume of 73,453 shares, compared to its average volume of 136,571. The firm’s fifty day moving average price is $40.14 and its 200-day moving average price is $36.67. Barrett Business Services has a fifty-two week low of $27.06 and a fifty-two week high of $44.39. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 23.05, a P/E/G ratio of 1.46 and a beta of 1.42.

Barrett Business Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.32 annualized dividend and a yield of 0.73%. Barrett Business Services’s dividend payout ratio is currently 16.93%.

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.