Key Points
- EVP James Potts sold 1,802 shares of Barrett Business Services (NASDAQ:BBSI) at an average price of $38.00, totaling about $68,476. After the sale, he still held 39,012 shares, worth roughly $1.48 million.
- BBSI recently beat quarterly expectations, reporting a smaller-than-expected loss of $0.13 per share versus estimates for a $0.15 loss, while revenue came in at $307.0 million, slightly above forecasts and up 4.9% year over year.
- Analysts remain moderately positive on the stock, with a consensus rating of “Moderate Buy” and an average target price of $41.50. The company also pays a quarterly dividend of $0.08 per share, implying a 0.8% yield.
Barrett Business Services, Inc. (NASDAQ:BBSI - Get Free Report) EVP James Potts sold 1,802 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $38.00, for a total transaction of $68,476.00. Following the sale, the executive vice president owned 39,012 shares in the company, valued at approximately $1,482,456. This trade represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Barrett Business Services Price Performance
BBSI stock opened at $38.05 on Wednesday. The business's 50-day moving average is $32.75 and its two-hundred day moving average is $32.79. The firm has a market capitalization of $934.51 million, a P/E ratio of 24.71, a P/E/G ratio of 1.25 and a beta of 0.95. 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, May 6th. The business services provider reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.02. The business had revenue of $307.00 million during the quarter, compared to analysts' expectations of $306.68 million. Barrett Business Services had a net margin of 3.24% and a return on equity of 22.89%. The company's revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.04) EPS. On average, analysts expect that Barrett Business Services, Inc. will post 1.88 EPS for the current year.
Barrett Business Services Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.32 dividend on an annualized basis and a yield of 0.8%. Barrett Business Services's dividend payout ratio (DPR) is presently 20.78%.
Analyst Ratings Changes
BBSI has been the topic of a number of research reports. Zacks Research upgraded Barrett Business Services from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 28th. Wall Street Zen raised Barrett Business Services from a "sell" rating to a "hold" rating in a report on Saturday, June 6th. Barrington Research restated an "outperform" rating and set a $41.00 target price on shares of Barrett Business Services in a research report on Monday, April 27th. Finally, Weiss Ratings raised shares of Barrett Business Services from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Barrett Business Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.50.
Get Our Latest Research Report on BBSI
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its position in Barrett Business Services by 131.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,206 shares of the business services provider's stock worth $78,000 after buying an additional 1,251 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new position in shares of Barrett Business Services during the first quarter worth about $8,316,000. Lazard Asset Management LLC increased its stake in shares of Barrett Business Services by 114.2% during the first quarter. Lazard Asset Management LLC now owns 75,117 shares of the business services provider's stock worth $2,192,000 after acquiring an additional 40,052 shares during the period. Renaissance Technologies LLC raised its holdings in Barrett Business Services by 1.4% during the first quarter. Renaissance Technologies LLC now owns 639,462 shares of the business services provider's stock worth $18,660,000 after purchasing an additional 8,600 shares in the last quarter. Finally, Sei Investments Co. lifted its position in Barrett Business Services by 102.5% in the first quarter. Sei Investments Co. now owns 168,356 shares of the business services provider's stock valued at $4,913,000 after purchasing an additional 85,230 shares during the period. Institutional investors and hedge funds own 86.76% of the company's stock.
Barrett Business Services Company Profile
(
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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