James Potts Sells 1,802 Shares of Barrett Business Services (NASDAQ:BBSI) Stock

Barrett Business Services, Inc. (NASDAQ:BBSI) EVP James Potts sold 1,802 shares of Barrett Business Services stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $38.00, for a total value of $68,476.00. Following the sale, the executive vice president directly owned 39,012 shares of the company’s stock, valued at approximately $1,482,456. The trade was a 4.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Barrett Business Services Price Performance

Shares of BBSI stock opened at $37.39 on Thursday. Barrett Business Services, Inc. has a fifty-two week low of $25.33 and a fifty-two week high of $49.65. The stock’s 50-day moving average is $32.89 and its two-hundred day moving average is $32.79. The firm has a market cap of $918.30 million, a P/E ratio of 24.28, a PEG ratio of 1.27 and a beta of 0.95.

Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings results on Wednesday, May 6th. The business services provider reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02. Barrett Business Services had a return on equity of 22.89% and a net margin of 3.24%.The business had revenue of $307.00 million during the quarter, compared to analyst estimates of $306.68 million. During the same period in the previous year, the company earned ($0.04) EPS. The firm’s revenue was up 4.9% on a year-over-year basis. As a group, research analysts expect that Barrett Business Services, Inc. will post 1.88 EPS for the current year.

Barrett Business Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were paid a $0.08 dividend. The ex-dividend date was Friday, May 22nd. This represents a $0.32 dividend on an annualized basis and a yield of 0.9%. Barrett Business Services’s payout ratio is 20.78%.

Institutional Trading of Barrett Business Services

A number of hedge funds have recently bought and sold shares of BBSI. Kestra Advisory Services LLC bought a new stake in shares of Barrett Business Services in the fourth quarter valued at about $39,000. Bard Associates Inc. acquired a new stake in Barrett Business Services during the fourth quarter worth about $50,000. Farther Finance Advisors LLC increased its stake in Barrett Business Services by 63.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,456 shares of the business services provider’s stock valued at $53,000 after acquiring an additional 563 shares during the period. Tripletail Wealth Management LLC increased its stake in Barrett Business Services by 152.6% during the fourth quarter. Tripletail Wealth Management LLC now owns 1,920 shares of the business services provider’s stock valued at $70,000 after acquiring an additional 1,160 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Barrett Business Services by 131.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,206 shares of the business services provider’s stock valued at $78,000 after acquiring an additional 1,251 shares in the last quarter. 86.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Barrett Business Services Company Profile

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.