Short Interest in Barrett Business Services, Inc. (NASDAQ:BBSI) Declines By 8.5%

Barrett Business Services, Inc. (NASDAQ:BBSI) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 84,200 shares, a decline of 8.5% from the August 30th total of 92,000 shares. Based on an average daily trading volume, of 45,800 shares, the short-interest ratio is currently 1.8 days. Approximately 1.2% of the shares of the stock are short sold.

In other Barrett Business Services news, Director Thomas J. Carley sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $88.25, for a total value of $264,750.00. Following the completion of the sale, the director now directly owns 24,989 shares of the company’s stock, valued at approximately $2,205,279.25. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James B. Hicks sold 2,176 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $85.20, for a total transaction of $185,395.20. Following the completion of the sale, the director now directly owns 17,618 shares of the company’s stock, valued at $1,501,053.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,376 shares of company stock valued at $467,317. 6.80% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in BBSI. Charles Schwab Investment Management Inc. boosted its holdings in Barrett Business Services by 14.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 99,000 shares of the business services provider’s stock worth $8,178,000 after buying an additional 12,515 shares in the last quarter. Bahl & Gaynor Inc. lifted its holdings in Barrett Business Services by 2.2% during the second quarter. Bahl & Gaynor Inc. now owns 23,200 shares of the business services provider’s stock valued at $1,916,000 after purchasing an additional 495 shares in the last quarter. Aperio Group LLC purchased a new position in Barrett Business Services during the second quarter valued at $156,000. Man Group plc lifted its holdings in Barrett Business Services by 1.1% during the second quarter. Man Group plc now owns 122,145 shares of the business services provider’s stock valued at $10,090,000 after purchasing an additional 1,280 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of Barrett Business Services by 9.8% in the second quarter. Royal Bank of Canada now owns 22,009 shares of the business services provider’s stock valued at $1,818,000 after buying an additional 1,970 shares during the last quarter. 80.19% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ BBSI traded up $1.00 during trading hours on Thursday, hitting $94.75. 73,100 shares of the stock were exchanged, compared to its average volume of 41,553. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a market cap of $660.48 million, a PE ratio of 19.03 and a beta of 0.93. The firm has a fifty day moving average price of $87.76 and a 200-day moving average price of $83.62. Barrett Business Services has a 12 month low of $53.10 and a 12 month high of $95.64.

Barrett Business Services (NASDAQ:BBSI) last issued its quarterly earnings results on Tuesday, November 5th. The business services provider reported $3.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.30 by $0.94. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.55 billion. Barrett Business Services had a net margin of 5.09% and a return on equity of 39.94%. As a group, equities analysts anticipate that Barrett Business Services will post 5.53 earnings per share for the current fiscal year.

BBSI has been the subject of several research reports. BidaskClub cut shares of Barrett Business Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 17th. ValuEngine cut shares of Barrett Business Services from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Roth Capital upped their price target on shares of Barrett Business Services from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Zacks Investment Research lowered shares of Barrett Business Services from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th.

Barrett Business Services Company Profile

Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. The company offers professional employer services under which it enters into a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers' compensation coverage, and other administration functions for the client's existing workforce.

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