Barrett Business Services (NASDAQ:BBSI) Director Anthony Meeker Sells 12,000 Shares

Barrett Business Services, Inc. (NASDAQ:BBSI) Director Anthony Meeker sold 12,000 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $37.85, for a total value of $454,200.00. Following the sale, the director directly owned 44,945 shares of the company’s stock, valued at approximately $1,701,168.25. The trade was a 21.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Barrett Business Services Stock Performance

Shares of BBSI stock opened at $38.05 on Wednesday. Barrett Business Services, Inc. has a 52 week low of $25.33 and a 52 week high of $49.65. The company’s 50 day moving average price is $32.75 and its two-hundred day moving average price is $32.79. The company has a market capitalization of $934.51 million, a P/E ratio of 24.71, a price-to-earnings-growth ratio of 1.25 and a beta of 0.95.

Barrett Business Services (NASDAQ:BBSI) last issued 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. 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 the consensus estimate of $306.68 million. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. Analysts forecast that Barrett Business Services, Inc. will post 1.88 earnings per share for the current year.

Barrett Business Services Announces Dividend

The company also recently announced 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. This represents a $0.32 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, May 22nd. Barrett Business Services’s dividend payout ratio is 20.78%.

Analysts Set New Price Targets

BBSI has been the topic of a number of research reports. Barrington Research restated an “outperform” rating and issued a $41.00 price target on shares of Barrett Business Services in a report on Monday, April 27th. Zacks Research upgraded Barrett Business Services from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Wall Street Zen raised Barrett Business Services from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings upgraded Barrett Business Services from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $41.50.

Hedge Funds Weigh In On Barrett Business Services

Large investors have recently modified their holdings of the business. Polar Asset Management Partners Inc. acquired a new stake in shares of Barrett Business Services in the 1st quarter valued at approximately $8,316,000. Trigran Investments Inc. increased its holdings in Barrett Business Services by 62.3% during the fourth quarter. Trigran Investments Inc. now owns 648,738 shares of the business services provider’s stock worth $23,491,000 after buying an additional 249,052 shares during the last quarter. Royce & Associates LP raised its position in Barrett Business Services by 31.6% during the fourth quarter. Royce & Associates LP now owns 870,863 shares of the business services provider’s stock worth $31,534,000 after acquiring an additional 208,865 shares in the last quarter. First Trust Advisors LP bought a new stake in Barrett Business Services during the second quarter worth $5,536,000. Finally, Wellington Management Group LLP lifted its stake in Barrett Business Services by 15.3% in the fourth quarter. Wellington Management Group LLP now owns 821,560 shares of the business services provider’s stock valued at $29,749,000 after acquiring an additional 109,069 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

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.