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

Barrett Business Services, Inc. (NASDAQ:BBSI) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 496,400 shares, a growth of 7.6% from the October 31st total of 461,500 shares. Based on an average daily volume of 126,400 shares, the short-interest ratio is presently 3.9 days.

Insider Activity at Barrett Business Services

In other news, Director Joseph Stephen Clabby purchased 1,635 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were purchased at an average cost of $43.01 per share, with a total value of $70,321.35. Following the completion of the transaction, the director now owns 11,327 shares of the company’s stock, valued at $487,174.27. The trade was a 16.87 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas J. Carley sold 4,584 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.24, for a total transaction of $189,044.16. Following the transaction, the director now owns 91,628 shares in the company, valued at $3,778,738.72. This represents a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Barrett Business Services

A number of institutional investors have recently modified their holdings of BBSI. Pacific Ridge Capital Partners LLC raised its stake in Barrett Business Services by 259.8% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 378,786 shares of the business services provider’s stock worth $12,413,000 after purchasing an additional 273,516 shares in the last quarter. Ironwood Investment Management LLC boosted its stake in shares of Barrett Business Services by 155.0% in the second quarter. Ironwood Investment Management LLC now owns 87,856 shares of the business services provider’s stock valued at $2,879,000 after buying an additional 53,405 shares during the period. EP Wealth Advisors LLC acquired a new stake in Barrett Business Services during the second quarter worth approximately $758,000. Dimensional Fund Advisors LP increased its stake in Barrett Business Services by 281.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 867,708 shares of the business services provider’s stock worth $28,435,000 after acquiring an additional 640,508 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its holdings in Barrett Business Services by 155.7% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 59,324 shares of the business services provider’s stock valued at $1,944,000 after acquiring an additional 36,120 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Barrett Business Services Trading Up 1.4 %

Barrett Business Services stock opened at $43.50 on Tuesday. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 1.43 and a beta of 1.39. The stock’s 50 day moving average is $38.93 and its 200-day moving average is $35.90. Barrett Business Services has a 12 month low of $27.06 and a 12 month high of $43.82.

Barrett Business Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.74%. Barrett Business Services’s payout ratio is presently 16.89%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Barrington Research lifted their target price on Barrett Business Services from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com raised shares of Barrett Business Services from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Roth Mkm increased their price objective on shares of Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

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.