Barrett Business Services (NASDAQ:BBSI) Share Price Passes Above Two Hundred Day Moving Average of $30.08

Barrett Business Services, Inc. (NASDAQ:BBSI)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.08 and traded as high as $34.35. Barrett Business Services shares last traded at $33.47, with a volume of 237,529 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. StockNews.com cut shares of Barrett Business Services from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 29th. Sidoti cut shares of Barrett Business Services from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research note on Wednesday, June 5th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $35.25 price objective on shares of Barrett Business Services in a research note on Tuesday, May 28th.

Barrett Business Services Stock Performance

The firm’s 50 day moving average price is $31.77 and its two-hundred day moving average price is $30.08. The firm has a market cap of $218.89 million, a PE ratio of 4.59, a PEG ratio of 1.22 and a beta of 1.41.

Barrett Business Services (NASDAQ:BBSI) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.00 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.08. Barrett Business Services had a net margin of 4.60% and a return on equity of 26.58%. The firm had revenue of $265.78 million for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the business posted $0.03 EPS. On average, analysts forecast that Barrett Business Services, Inc. will post 7.95 earnings per share for the current year.

Barrett Business Services Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were issued a dividend of $0.075 per share. The ex-dividend date was Thursday, May 16th. This represents a $0.30 dividend on an annualized basis and a yield of 0.90%. Barrett Business Services’s dividend payout ratio (DPR) is presently 16.46%.

Insiders Place Their Bets

In other Barrett Business Services news, Director Thomas B. Cusick sold 2,400 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $33.01, for a total transaction of $79,230.00. Following the sale, the director now directly owns 26,192 shares in the company, valued at approximately $864,663.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Barrett Business Services

Hedge funds and other institutional investors have recently modified their holdings of the company. AJOVista LLC purchased a new position in shares of Barrett Business Services in the 4th quarter valued at $27,000. Ramirez Asset Management Inc. purchased a new position in shares of Barrett Business Services in the 3rd quarter valued at $45,000. CWM LLC grew its position in shares of Barrett Business Services by 120,000.0% in the 4th quarter. CWM LLC now owns 1,201 shares of the business services provider’s stock valued at $139,000 after buying an additional 1,200 shares during the last quarter. Gladius Capital Management LP grew its position in shares of Barrett Business Services by 82.2% in the 3rd quarter. Gladius Capital Management LP now owns 1,971 shares of the business services provider’s stock valued at $178,000 after buying an additional 889 shares during the last quarter. Finally, Arizona State Retirement System purchased a new position in shares of Barrett Business Services in the 4th quarter valued at $218,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

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.