Key Points
- CEO Gary Kramer purchased 8,370 shares at an average price of $26.89 on March 13 for a total of $225,069.30, increasing his direct stake to 328,801 shares (a 2.61% ownership increase), according to an SEC filing.
- The company reported Q4 EPS of $0.64, in line with estimates, with revenue up 5.3% year-over-year, and recently declared a quarterly dividend of $0.08 (annualized $0.32, yield 1.2%; ex-dividend March 13, payable March 27).
- Barrett Business Services has a market cap of about $696.9M and a P/E of 13.23, is trading below its 50- and 200-day moving averages ($33.91 and $38.03), has a 1-year range of $25.33–$49.65, and carries a consensus "Moderate Buy" price target of $41.50 with roughly 86.8% institutional ownership.
Barrett Business Services, Inc. (NASDAQ:BBSI - Get Free Report) CEO Gary Kramer purchased 8,370 shares of Barrett Business Services stock in a transaction dated Friday, March 13th. The stock was acquired at an average cost of $26.89 per share, with a total value of $225,069.30. Following the completion of the acquisition, the chief executive officer directly owned 328,801 shares in the company, valued at approximately $8,841,458.89. This trade represents a 2.61% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Barrett Business Services Price Performance
Shares of BBSI stock opened at $27.65 on Tuesday. The business's fifty day moving average price is $33.91 and its 200 day moving average price is $38.03. The firm has a market capitalization of $696.86 million, a PE ratio of 13.23, a P/E/G ratio of 0.96 and a beta of 1.02. Barrett Business Services, Inc. has a 1-year low of $25.33 and a 1-year high of $49.65.
Barrett Business Services (NASDAQ:BBSI - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The business services provider reported $0.64 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.64. The firm had revenue of $2.40 billion during the quarter, compared to analysts' expectations of $323.43 million. Barrett Business Services had a return on equity of 23.67% and a net margin of 4.39%.Barrett Business Services's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.63 earnings per share. Equities research analysts expect that Barrett Business Services, Inc. will post 2 earnings per share for the current fiscal year.
Barrett Business Services Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a $0.08 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. Barrett Business Services's dividend payout ratio (DPR) is 15.31%.
Hedge Funds Weigh In On Barrett Business Services
Several hedge funds have recently added to or reduced their stakes in BBSI. Trigran Investments Inc. purchased a new stake in shares of Barrett Business Services in the second quarter valued at about $7,531,000. Envestnet Asset Management Inc. purchased a new position in shares of Barrett Business Services during the 2nd quarter worth approximately $454,000. Thrivent Financial for Lutherans increased its stake in shares of Barrett Business Services by 20.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,901,425 shares of the business services provider's stock worth $84,271,000 after purchasing an additional 324,715 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Barrett Business Services by 1,176.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 123,742 shares of the business services provider's stock worth $5,484,000 after purchasing an additional 114,051 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Barrett Business Services by 821,045.1% during the 3rd quarter. Bessemer Group Inc. now owns 418,784 shares of the business services provider's stock worth $18,562,000 after purchasing an additional 418,733 shares during the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have weighed in on BBSI shares. Weiss Ratings restated a "hold (c+)" rating on shares of Barrett Business Services in a research report on Monday, December 29th. CJS Securities upgraded shares of Barrett Business Services to a "strong-buy" rating in a research report on Thursday, December 11th. Roth Mkm decreased their price target on Barrett Business Services from $54.00 to $42.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Zacks Research cut Barrett Business Services from a "hold" rating to a "strong sell" rating in a report on Friday, February 27th. Finally, Barrington Research dropped their price objective on Barrett Business Services from $46.00 to $41.00 and set an "outperform" rating for the company in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $41.50.
View Our Latest Analysis on Barrett Business Services
About Barrett Business Services
(
Get Free Report)
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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