Barrett Business Services (NASDAQ:BBSI) Stock Passes Above 200-Day Moving Average – Here’s Why

Barrett Business Services, Inc. (NASDAQ:BBSI)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $38.23 and traded as high as $44.04. Barrett Business Services shares last traded at $43.94, with a volume of 93,192 shares.

Analyst Ratings Changes

A number of research firms have commented on BBSI. Barrington Research reissued an “outperform” rating and issued a $45.00 target price on shares of Barrett Business Services in a report on Wednesday, December 11th. 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 note on Thursday, November 7th. Finally, StockNews.com upgraded shares of Barrett Business Services from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th.

Barrett Business Services Trading Down 0.2 %

The firm has a market capitalization of $1.14 billion, a PE ratio of 23.15, a PEG ratio of 1.25 and a beta of 1.42. The stock’s 50 day moving average price is $42.87 and its two-hundred day moving average price is $38.35.

Barrett Business Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Friday, November 22nd. Barrett Business Services’s payout ratio is currently 16.89%.

Insider Activity

In related news, Director Thomas J. Carley sold 4,584 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.24, for a total value of $189,044.16. Following the completion of the sale, the director now directly owns 91,628 shares in the company, valued at approximately $3,778,738.72. The trade was a 4.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas B. Cusick sold 3,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $43.41, for a total transaction of $130,230.00. Following the transaction, the director now directly owns 27,776 shares in the company, valued at approximately $1,205,756.16. This represents a 9.75 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Barrett Business Services

Several hedge funds and other institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC acquired a new position in shares of Barrett Business Services during the fourth quarter worth about $481,000. SG Americas Securities LLC raised its holdings in shares of Barrett Business Services by 18.7% during the fourth quarter. SG Americas Securities LLC now owns 14,402 shares of the business services provider’s stock worth $626,000 after purchasing an additional 2,265 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Barrett Business Services by 19.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 546,510 shares of the business services provider’s stock worth $20,500,000 after purchasing an additional 88,350 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Barrett Business Services by 29.7% during the third quarter. Principal Financial Group Inc. now owns 17,300 shares of the business services provider’s stock worth $649,000 after acquiring an additional 3,960 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Barrett Business Services by 1.7% in the 3rd quarter. Franklin Resources Inc. now owns 42,790 shares of the business services provider’s stock worth $1,590,000 after purchasing an additional 704 shares during the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

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.