Barrett Business Services, Inc. (NASDAQ:BBSI) Short Interest Up 25.1% in November

Barrett Business Services, Inc. (NASDAQ:BBSI) was the target of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 620,800 shares, an increase of 25.1% from the November 15th total of 496,400 shares. Based on an average daily volume of 126,800 shares, the short-interest ratio is presently 4.9 days.

Insider Transactions at Barrett Business Services

In other news, Director Thomas J. Carley sold 4,584 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were 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 of the company’s stock, valued at approximately $3,778,738.72. The trade was a 4.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph Stephen Clabby acquired 1,635 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average cost of $43.01 per share, with a total value of $70,321.35. Following the acquisition, the director now directly owns 11,327 shares of the company’s stock, valued at $487,174.27. This trade represents a 16.87 % increase in their position. The disclosure for this purchase can be found here. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Barrett Business Services

Institutional investors and hedge funds have recently modified their holdings of the company. Pacific Ridge Capital Partners LLC grew its position 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 valued at $12,413,000 after acquiring 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 purchasing an additional 53,405 shares during the period. EP Wealth Advisors LLC acquired a new position in shares of Barrett Business Services in the second quarter valued at 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 buying an additional 640,508 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its holdings in Barrett Business Services by 155.7% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 59,324 shares of the business services provider’s stock worth $1,944,000 after buying an additional 36,120 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analyst Upgrades and Downgrades

BBSI has been the topic of a number of recent analyst reports. Barrington Research reiterated an “outperform” rating and issued a $45.00 price objective on shares of Barrett Business Services in a report on Wednesday. StockNews.com upgraded 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 target on Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Barrett Business Services Price Performance

Shares of NASDAQ:BBSI traded up $0.28 during mid-day trading on Friday, reaching $43.57. 73,451 shares of the company were exchanged, compared to its average volume of 136,571. Barrett Business Services has a 1 year low of $27.06 and a 1 year high of $44.39. The firm’s 50-day simple moving average is $40.14 and its 200 day simple moving average is $36.60. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 1.46 and a beta of 1.42.

Barrett Business Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a $0.08 dividend. The ex-dividend date was Friday, November 22nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.73%. Barrett Business Services’s payout ratio is presently 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.