Barrett Business Services, Inc. (NASDAQ:BBSI) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totalling 77,800 shares, a growth of 13.7% from the May 30th total of 68,400 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average trading volume of 38,500 shares, the days-to-cover ratio is presently 2.0 days.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Boston Partners grew its holdings in Barrett Business Services by 1.3% during the first quarter. Boston Partners now owns 22,727 shares of the business services provider’s stock valued at $1,757,000 after purchasing an additional 284 shares during the period. Legal & General Group Plc grew its holdings in Barrett Business Services by 29.1% during the fourth quarter. Legal & General Group Plc now owns 1,349 shares of the business services provider’s stock valued at $77,000 after purchasing an additional 304 shares during the period. Citigroup Inc. grew its holdings in Barrett Business Services by 13.4% during the fourth quarter. Citigroup Inc. now owns 2,593 shares of the business services provider’s stock valued at $148,000 after purchasing an additional 307 shares during the period. EagleClaw Capital Managment LLC grew its holdings in Barrett Business Services by 10.0% during the first quarter. EagleClaw Capital Managment LLC now owns 12,075 shares of the business services provider’s stock valued at $934,000 after purchasing an additional 1,100 shares during the period. Finally, BNP Paribas Arbitrage SA grew its holdings in Barrett Business Services by 49,366.7% during the first quarter. BNP Paribas Arbitrage SA now owns 1,484 shares of the business services provider’s stock valued at $115,000 after purchasing an additional 1,481 shares during the period. Hedge funds and other institutional investors own 82.66% of the company’s stock.
Shares of NASDAQ:BBSI opened at $85.59 on Tuesday. Barrett Business Services has a one year low of $53.10 and a one year high of $98.53. The business’s 50 day simple moving average is $80.09. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $640.58 million, a PE ratio of 17.19 and a beta of 0.88.
Barrett Business Services (NASDAQ:BBSI) last issued its quarterly earnings results on Tuesday, April 30th. The business services provider reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.50. Barrett Business Services had a net margin of 4.80% and a return on equity of 42.37%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.39 billion. On average, sell-side analysts anticipate that Barrett Business Services will post 5.5 EPS for the current year.
Several equities research analysts have recently commented on BBSI shares. BidaskClub upgraded shares of Westport Fuel Systems from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research cut shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $97.00.
About Barrett Business Services
Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. The company offers professional employer services under which it enters into a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers' compensation coverage, and other administration functions for the client's existing workforce.
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