Barrett Business Services, Inc. (NASDAQ:BBSI) Short Interest Update

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

Barrett Business Services Stock Up 0.4%

Barrett Business Services stock opened at $27.88 on Tuesday. The business’s 50-day moving average price is $35.59 and its 200 day moving average price is $39.40. The firm has a market cap of $702.58 million, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 0.81 and a beta of 1.03. Barrett Business Services has a 52 week low of $25.33 and a 52 week 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 EPS for the quarter, hitting the consensus estimate of $0.64. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $323.43 million. Barrett Business Services had a return on equity of 23.67% and a net margin of 4.39%.The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS. Equities analysts expect that Barrett Business Services will post 2 EPS for the current year.

Barrett Business Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, March 13th. Barrett Business Services’s dividend payout ratio (DPR) is currently 15.31%.

Institutional Investors Weigh In On Barrett Business Services

Hedge funds have recently modified their holdings of the company. Mawer Investment Management Ltd. grew its position in shares of Barrett Business Services by 0.7% during the 4th quarter. Mawer Investment Management Ltd. now owns 1,964,053 shares of the business services provider’s stock valued at $71,118,000 after acquiring an additional 13,331 shares during the period. Thrivent Financial for Lutherans boosted its position in Barrett Business Services by 20.6% during the third quarter. Thrivent Financial for Lutherans now owns 1,901,425 shares of the business services provider’s stock worth $84,271,000 after purchasing an additional 324,715 shares in the last quarter. Private Capital Management LLC grew its holdings in Barrett Business Services by 1.2% in the fourth quarter. Private Capital Management LLC now owns 999,371 shares of the business services provider’s stock valued at $36,187,000 after purchasing an additional 12,117 shares during the period. Royce & Associates LP increased its position in shares of Barrett Business Services by 31.6% in the fourth quarter. Royce & Associates LP now owns 870,863 shares of the business services provider’s stock valued at $31,534,000 after buying an additional 208,865 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Barrett Business Services by 15.3% in the fourth quarter. Wellington Management Group LLP now owns 821,560 shares of the business services provider’s stock valued at $29,749,000 after buying an additional 109,069 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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