Insider Selling: Barrett Business Services (NASDAQ:BBSI) EVP Sells 3,487 Shares

Barrett Business Services, Inc. (NASDAQ:BBSI) EVP James Potts sold 3,487 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $37.55, for a total value of $130,936.85. Following the transaction, the executive vice president directly owned 35,525 shares in the company, valued at approximately $1,333,963.75. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Barrett Business Services Price Performance

NASDAQ BBSI traded up $0.44 during trading hours on Tuesday, hitting $38.05. The company’s stock had a trading volume of 202,149 shares, compared to its average volume of 243,837. Barrett Business Services, Inc. has a 12 month low of $25.33 and a 12 month high of $49.65. The company’s 50 day simple moving average is $32.60 and its two-hundred day simple moving average is $32.78. The company has a market cap of $934.51 million, a P/E ratio of 24.71, a price-to-earnings-growth ratio of 1.26 and a beta of 0.95.

Barrett Business Services (NASDAQ:BBSI) last posted its earnings results on Wednesday, May 6th. The business services provider reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02. The business had revenue of $307.00 million for the quarter, compared to analysts’ expectations of $306.68 million. Barrett Business Services had a net margin of 3.24% and a return on equity of 22.89%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) EPS. As a group, research analysts predict that Barrett Business Services, Inc. will post 1.88 earnings per share for the current fiscal year.

Barrett Business Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, May 22nd. Barrett Business Services’s dividend payout ratio is presently 20.78%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Barrington Research reaffirmed an “outperform” rating and issued a $41.00 price objective on shares of Barrett Business Services in a report on Monday, April 27th. Weiss Ratings raised Barrett Business Services from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 8th. Wall Street Zen upgraded Barrett Business Services from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Zacks Research raised shares of Barrett Business Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.50.

Hedge Funds Weigh In On Barrett Business Services

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Polar Asset Management Partners Inc. purchased a new stake in Barrett Business Services in the 1st quarter worth approximately $8,316,000. Trigran Investments Inc. boosted its position in shares of Barrett Business Services by 62.3% in the fourth quarter. Trigran Investments Inc. now owns 648,738 shares of the business services provider’s stock worth $23,491,000 after purchasing an additional 249,052 shares during the period. Royce & Associates LP increased its stake 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 worth $31,534,000 after purchasing an additional 208,865 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Barrett Business Services during the 2nd quarter valued at $5,536,000. Finally, Wellington Management Group LLP lifted its stake in shares of Barrett Business Services by 15.3% during the 4th 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 currently owned by hedge funds and other institutional investors.

About Barrett Business Services

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.