Barrett Business Services, Inc. (NASDAQ:BBSI) Short Interest Update

Barrett Business Services, Inc. (NASDAQ:BBSI) saw a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 536,800 shares, a drop of 7.5% from the January 15th total of 580,400 shares. Based on an average trading volume of 119,300 shares, the days-to-cover ratio is currently 4.5 days.

Barrett Business Services Trading Down 1.0 %

Shares of BBSI opened at $42.11 on Tuesday. Barrett Business Services has a twelve month low of $27.85 and a twelve month high of $44.97. The firm has a market capitalization of $1.09 billion, a P/E ratio of 22.22, a PEG ratio of 1.31 and a beta of 1.41. The firm’s 50-day moving average is $43.05 and its two-hundred day moving average is $39.70.

Insider Buying and Selling at Barrett Business Services

In other news, Director Thomas B. Cusick sold 3,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 27,776 shares in the company, valued at approximately $1,205,756.16. This trade represents a 9.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Barrett Business Services

Institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new position in Barrett Business Services during the second quarter worth $122,000. Assenagon Asset Management S.A. raised its stake in shares of Barrett Business Services by 27.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 110,331 shares of the business services provider’s stock worth $4,139,000 after buying an additional 23,933 shares during the last quarter. CWC Advisors LLC. purchased a new stake in shares of Barrett Business Services in the 3rd quarter worth about $307,000. Principal Financial Group Inc. grew its stake in Barrett Business Services by 29.7% in the 3rd quarter. Principal Financial Group Inc. now owns 17,300 shares of the business services provider’s stock valued at $649,000 after acquiring an additional 3,960 shares during the last quarter. Finally, Summit Global Investments increased its holdings in Barrett Business Services by 1.5% during the 3rd quarter. Summit Global Investments now owns 24,456 shares of the business services provider’s stock valued at $917,000 after acquiring an additional 352 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BBSI shares. 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. StockNews.com upgraded Barrett Business Services from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Barrett Business Services in a report on Wednesday, December 11th.

About Barrett Business Services

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.