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

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

Insider Buying and Selling

In other Barrett Business Services news, Director Thomas J. Carley sold 4,584 shares of Barrett Business Services stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.24, for a total transaction of $189,044.16. Following the sale, the director now directly owns 91,628 shares of the company’s stock, valued at approximately $3,778,738.72. The trade was a 4.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Stephen Clabby bought 1,635 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were bought at an average price of $43.01 per share, with a total value of $70,321.35. Following the transaction, the director now directly owns 11,327 shares in the company, valued at $487,174.27. This trade represents a 16.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Barrett Business Services

Several large investors have recently bought and sold shares of BBSI. CWM LLC grew its holdings in shares of Barrett Business Services by 12,014.3% in the 2nd quarter. CWM LLC now owns 848 shares of the business services provider’s stock valued at $28,000 after buying an additional 841 shares during the period. Amalgamated Bank increased its holdings in shares of Barrett Business Services by 300.0% in the second quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock worth $31,000 after acquiring an additional 702 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of Barrett Business Services during the third quarter worth about $34,000. Westside Investment Management Inc. bought a new position in shares of Barrett Business Services during the 3rd quarter valued at about $34,000. Finally, Huntington National Bank bought a new stake in Barrett Business Services during the 3rd quarter worth approximately $39,000. Institutional investors own 86.76% of the company’s stock.

Analysts Set New Price Targets

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

Barrett Business Services Trading Up 1.4 %

NASDAQ:BBSI opened at $43.50 on Tuesday. The firm 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. Barrett Business Services has a 1-year low of $27.06 and a 1-year high of $43.82. The business’s 50-day moving average price is $38.93 and its two-hundred day moving average price is $35.90.

Barrett Business Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.74%. The ex-dividend date is Friday, November 22nd. Barrett Business Services’s payout ratio is 16.89%.

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.