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

Barrett Business Services, Inc. (NASDAQ:BBSI) was the recipient of a large decrease in short interest in January. As of January 31st, there was short interest totalling 536,800 shares, a decrease of 7.5% from the January 15th total of 580,400 shares. Based on an average daily trading volume, of 119,300 shares, the days-to-cover ratio is currently 4.5 days.

Insider Buying and Selling at Barrett Business Services

In related news, Director Thomas B. Cusick sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $43.41, for a total transaction of $130,230.00. Following the sale, the director now owns 27,776 shares in the company, valued at approximately $1,205,756.16. This trade represents a 9.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the director now directly owns 91,628 shares of the company’s stock, valued at $3,778,738.72. The trade was a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Barrett Business Services

Large investors have recently modified their holdings of the company. Deutsche Bank AG raised its stake in shares of Barrett Business Services by 43.3% in the 4th quarter. Deutsche Bank AG now owns 27,831 shares of the business services provider’s stock valued at $1,209,000 after acquiring an additional 8,403 shares during the period. Brevan Howard Capital Management LP raised its position in Barrett Business Services by 10.8% in the fourth quarter. Brevan Howard Capital Management LP now owns 6,773 shares of the business services provider’s stock valued at $294,000 after purchasing an additional 660 shares during the period. Bank of America Corp DE lifted its stake in shares of Barrett Business Services by 1.5% during the fourth quarter. Bank of America Corp DE now owns 78,617 shares of the business services provider’s stock worth $3,415,000 after purchasing an additional 1,177 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Barrett Business Services by 47.4% in the fourth quarter. Ameriprise Financial Inc. now owns 13,666 shares of the business services provider’s stock worth $594,000 after buying an additional 4,397 shares during the period. Finally, 4D Advisors LLC acquired a new stake in shares of Barrett Business Services in the fourth quarter valued at about $5,430,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Barrett Business Services Stock Performance

Shares of BBSI traded down $0.42 during trading hours on Monday, hitting $42.11. The stock had a trading volume of 101,367 shares, compared to its average volume of 76,869. Barrett Business Services has a 12-month low of $27.85 and a 12-month high of $44.97. The firm has a market cap of $1.09 billion, a P/E ratio of 22.22, a P/E/G ratio of 1.31 and a beta of 1.41. The company’s fifty day simple moving average is $43.06 and its 200 day simple moving average is $39.66.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BBSI. Barrington Research reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Barrett Business Services in a research report on Wednesday, December 11th. StockNews.com upgraded Barrett Business Services from a “hold” rating to a “buy” rating in a 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 stock a “buy” rating in a 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.