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

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Barrington Research restated an “outperform” rating and set a $45.00 target price on shares of Barrett Business Services in a research report on Wednesday. StockNews.com raised Barrett Business Services from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Roth Mkm upped their target price on Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Barrett Business Services Stock Performance

Shares of BBSI traded up $0.28 during trading hours on Friday, hitting $43.57. The stock had a trading volume of 73,451 shares, compared to its average volume of 136,571. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 1.46 and a beta of 1.42. The firm has a 50-day moving average price of $40.14 and a 200 day moving average price of $36.60. Barrett Business Services has a fifty-two week low of $27.06 and a fifty-two week high of $44.39.

Barrett Business Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, November 22nd. Barrett Business Services’s payout ratio is currently 16.89%.

Insider Transactions at Barrett Business Services

In other Barrett Business Services news, Director Joseph Stephen Clabby purchased 1,635 shares of Barrett Business Services stock in a transaction on Tuesday, November 12th. The stock was bought at an average cost of $43.01 per share, with a total value of $70,321.35. Following the transaction, the director now owns 11,327 shares of the company’s stock, valued at $487,174.27. This represents a 16.87 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $41.24, for a total transaction of $189,044.16. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Barrett Business Services

Several institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. grew its stake in Barrett Business Services by 1.7% in the 3rd quarter. Franklin Resources Inc. now owns 42,790 shares of the business services provider’s stock valued at $1,590,000 after acquiring an additional 704 shares during the period. Tidal Investments LLC purchased a new position in Barrett Business Services during the third quarter valued at $349,000. Westside Investment Management Inc. acquired a new stake in shares of Barrett Business Services in the third quarter valued at about $34,000. Continental Investors Services Inc. purchased a new stake in shares of Barrett Business Services during the third quarter worth about $216,000. Finally, Geode Capital Management LLC increased its stake in shares of Barrett Business Services by 4.8% during the third quarter. Geode Capital Management LLC now owns 705,598 shares of the business services provider’s stock worth $26,471,000 after purchasing an additional 32,632 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

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.