Barrett Business Services, Inc. (NASDAQ:BBSI – Get Free Report) Director Anthony Meeker sold 12,000 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $37.85, for a total value of $454,200.00. Following the completion of the sale, the director directly owned 44,945 shares of the company’s stock, valued at approximately $1,701,168.25. This represents a 21.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.
Barrett Business Services Trading Up 1.2%
Shares of BBSI stock traded up $0.44 during trading hours on Tuesday, reaching $38.05. 202,149 shares of the company’s stock were exchanged, compared to its average volume of 243,837. Barrett Business Services, Inc. has a 1 year low of $25.33 and a 1 year high of $49.65. The stock has a market cap of $934.51 million, a PE ratio of 24.71, a PEG ratio of 1.26 and a beta of 0.95. The stock’s fifty day moving average price is $32.60 and its two-hundred day moving average price is $32.78.
Barrett Business Services (NASDAQ:BBSI – Get Free Report) last released its earnings results on Wednesday, May 6th. The business services provider reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. Barrett Business Services had a net margin of 3.24% and a return on equity of 22.89%. The company had revenue of $307.00 million during the quarter, compared to analysts’ expectations of $306.68 million. During the same period last year, the business earned ($0.04) EPS. Barrett Business Services’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities analysts expect that Barrett Business Services, Inc. will post 1.88 EPS for the current fiscal year.
Barrett Business Services Announces Dividend
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC acquired a new position in Barrett Business Services during the fourth quarter worth about $39,000. Bard Associates Inc. purchased a new position in Barrett Business Services in the 4th quarter worth approximately $50,000. Farther Finance Advisors LLC boosted its holdings in shares of Barrett Business Services by 63.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,456 shares of the business services provider’s stock worth $53,000 after purchasing an additional 563 shares during the last quarter. Tripletail Wealth Management LLC boosted its holdings in shares of Barrett Business Services by 152.6% during the 4th quarter. Tripletail Wealth Management LLC now owns 1,920 shares of the business services provider’s stock worth $70,000 after purchasing an additional 1,160 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of Barrett Business Services by 270.2% in the second quarter. NewEdge Advisors LLC now owns 1,999 shares of the business services provider’s stock valued at $83,000 after purchasing an additional 1,459 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages have weighed in on BBSI. Zacks Research raised Barrett Business Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Barrington Research reissued 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 upgraded Barrett Business Services from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 8th. Finally, Wall Street Zen raised Barrett Business Services from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $41.50.
Get Our Latest Research Report on Barrett Business Services
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.
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