Barrett Business Services, Inc. (NASDAQ:BBSI) Short Interest Up 567.9% in June

Barrett Business Services, Inc. (NASDAQ:BBSI) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 313,900 shares, a growth of 567.9% from the May 31st total of 47,000 shares. Based on an average daily trading volume, of 137,700 shares, the short-interest ratio is presently 2.3 days.

Barrett Business Services Price Performance

Shares of NASDAQ BBSI traded down $0.49 during midday trading on Thursday, hitting $32.43. The company’s stock had a trading volume of 79,129 shares, compared to its average volume of 129,544. The business’s fifty day simple moving average is $31.88 and its two-hundred day simple moving average is $30.14. Barrett Business Services has a 1 year low of $21.17 and a 1 year high of $34.35. The firm has a market capitalization of $848.69 million, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 1.20 and a beta of 1.41.

Barrett Business Services (NASDAQ:BBSI) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.00 EPS for the quarter, beating 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 business had revenue of $265.78 million during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the firm posted $0.03 earnings per share. Analysts anticipate that Barrett Business Services will post 1.99 EPS for the current fiscal year.

Barrett Business Services Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were paid a $0.075 dividend. The ex-dividend date was Thursday, May 16th. This represents a $0.30 dividend on an annualized basis and a yield of 0.93%. Barrett Business Services’s dividend payout ratio is currently 16.46%.

Analysts Set New Price Targets

Several brokerages have weighed in on BBSI. Barrington Research reaffirmed an “outperform” rating and set a $35.25 target price on shares of Barrett Business Services in a research note on Tuesday, May 28th. Sidoti lowered shares of Barrett Business Services from a “buy” rating to a “neutral” rating and set a $35.00 target price for the company. in a research note on Wednesday, June 5th. Finally, StockNews.com lowered shares of Barrett Business Services from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 29th.

Insider Activity

In related news, Director Thomas B. Cusick sold 2,400 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $33.01, for a total transaction of $79,230.00. Following the completion of the sale, the director now directly owns 26,192 shares in the company, valued at $864,663.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. AJOVista LLC purchased a new position in Barrett Business Services in the fourth quarter worth approximately $27,000. Ramirez Asset Management Inc. acquired a new stake in Barrett Business Services during the third quarter worth approximately $45,000. CWM LLC raised its holdings in Barrett Business Services by 120,000.0% during the fourth quarter. CWM LLC now owns 1,201 shares of the business services provider’s stock worth $139,000 after purchasing an additional 1,200 shares in the last quarter. Virtu Financial LLC acquired a new stake in Barrett Business Services during the first quarter worth approximately $227,000. Finally, Arizona State Retirement System acquired a new stake in Barrett Business Services during the fourth quarter worth approximately $218,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Barrett Business Services Company Profile

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.