Barrett Business Services, Inc. (NASDAQ:BBSI) Sees Significant Decline in Short Interest

Barrett Business Services, Inc. (NASDAQ:BBSI) saw a significant 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 trading volume of 119,300 shares, the short-interest ratio is currently 4.5 days.

Barrett Business Services Price Performance

Shares of NASDAQ BBSI traded down $0.42 during trading on Monday, hitting $42.11. 101,367 shares of the company were exchanged, compared to its average volume of 76,869. Barrett Business Services has a 1 year low of $27.85 and a 1 year high of $44.97. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 1.31 and a beta of 1.41. The firm’s fifty day moving average price is $43.06 and its 200 day moving average price is $39.66.

Insider Buying and Selling at Barrett Business Services

In related news, Director Thomas J. Carley sold 4,584 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.24, for a total value of $189,044.16. Following the transaction, the director now owns 91,628 shares in the company, valued at $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 is available at the SEC website. Also, Director Thomas B. Cusick sold 3,000 shares of Barrett Business Services stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $43.41, for a total value of $130,230.00. Following the completion of the transaction, the director now owns 27,776 shares in the company, valued at $1,205,756.16. This trade represents a 9.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

Institutional Trading of Barrett Business Services

Several hedge funds and other institutional investors have recently made changes to their positions in BBSI. Inceptionr LLC increased its holdings in Barrett Business Services by 3.9% in the fourth quarter. Inceptionr LLC now owns 6,939 shares of the business services provider’s stock valued at $301,000 after buying an additional 262 shares in the last quarter. Summit Global Investments grew its holdings in shares of Barrett Business Services by 1.5% in the 3rd quarter. Summit Global Investments now owns 24,456 shares of the business services provider’s stock worth $917,000 after acquiring an additional 352 shares during the period. Swiss National Bank increased its stake in Barrett Business Services by 1.0% in the 4th quarter. Swiss National Bank now owns 51,400 shares of the business services provider’s stock valued at $2,233,000 after purchasing an additional 500 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Barrett Business Services by 1.0% during the fourth quarter. Victory Capital Management Inc. now owns 51,754 shares of the business services provider’s stock worth $2,248,000 after purchasing an additional 530 shares during the last quarter. Finally, Brevan Howard Capital Management LP raised its holdings in Barrett Business Services by 10.8% during the fourth quarter. Brevan Howard Capital Management LP now owns 6,773 shares of the business services provider’s stock worth $294,000 after purchasing an additional 660 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. StockNews.com raised shares of Barrett Business Services from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Barrington Research reissued an “outperform” rating and set a $45.00 price target on shares of Barrett Business Services in a report on Wednesday, December 11th. Finally, Roth Mkm raised their price objective on shares of Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

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.