Barrett Business Services (NASDAQ:BBSI) Issues Earnings Results

Barrett Business Services (NASDAQ:BBSI) posted its quarterly earnings data on Wednesday. The business services provider reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.02), Zacks reports. Barrett Business Services had a net margin of 4.49% and a return on equity of 24.59%.

Barrett Business Services Stock Performance

Shares of BBSI stock traded up $0.48 during trading hours on Wednesday, reaching $40.72. The stock had a trading volume of 511,719 shares, compared to its average volume of 151,258. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.25 and a quick ratio of 1.25. Barrett Business Services has a twelve month low of $37.46 and a twelve month high of $49.65. The firm has a 50-day simple moving average of $44.61 and a 200-day simple moving average of $43.61. The firm has a market capitalization of $1.05 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 1.31 and a beta of 1.00.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wall Street Zen downgraded shares of Barrett Business Services from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Barrett Business Services in a research note on Tuesday, October 14th. Finally, Barrington Research restated an “outperform” rating and issued a $49.00 price target on shares of Barrett Business Services in a research report on Tuesday, October 28th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, Barrett Business Services presently has a consensus rating of “Buy” and a consensus price target of $47.00.

Insiders Place Their Bets

In other Barrett Business Services news, Director Thomas J. Carley sold 12,646 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $47.62, for a total transaction of $602,202.52. Following the transaction, the director owned 94,692 shares of the company’s stock, valued at approximately $4,509,233.04. This trade represents a 11.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anthony Meeker sold 3,064 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $46.78, for a total transaction of $143,333.92. Following the transaction, the director directly owned 54,601 shares in the company, valued at approximately $2,554,234.78. The trade was a 5.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 110,438 shares of company stock worth $5,296,983. 4.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Barrett Business Services

Several large investors have recently bought and sold shares of the stock. First Trust Advisors LP acquired a new position in Barrett Business Services during the 2nd quarter valued at about $5,536,000. Bank of America Corp DE grew its stake in shares of Barrett Business Services by 52.7% in the 2nd quarter. Bank of America Corp DE now owns 128,978 shares of the business services provider’s stock worth $5,377,000 after purchasing an additional 44,532 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Barrett Business Services in the 1st quarter worth approximately $3,747,000. Jane Street Group LLC boosted its holdings in Barrett Business Services by 50.7% during the second quarter. Jane Street Group LLC now owns 63,423 shares of the business services provider’s stock worth $2,644,000 after buying an additional 21,338 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in Barrett Business Services by 106.4% during the second quarter. Qube Research & Technologies Ltd now owns 62,395 shares of the business services provider’s stock worth $2,601,000 after buying an additional 32,165 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Barrett Business Services Company Profile

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.