Anthony Meeker Sells 3,064 Shares of Barrett Business Services (NASDAQ:BBSI) Stock

Key Points

• Director Anthony Meeker sold 3,064 shares of Barrett Business Services at an average price of $46.78, reducing his ownership to 54,601 shares and representing a 5.31% decrease in his position.
• Barrett Business Services reported $0.70 earnings per share for the last quarter, exceeding estimates, with a 10.0% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.08 per share, resulting in an annualized dividend yield of 0.7% and a payout ratio of 15.76%.

Barrett Business Services, Inc. (NASDAQ:BBSI - Get Free Report) 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 value of $143,333.92. Following the transaction, the director owned 54,601 shares of the company's stock, valued at $2,554,234.78. This trade represents a 5.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Barrett Business Services Trading Down 1.7%

Barrett Business Services stock traded down $0.78 during midday trading on Friday, reaching $46.13. 285,492 shares of the stock traded hands, compared to its average volume of 160,648. The company has a 50-day simple moving average of $46.43 and a two-hundred day simple moving average of $42.94. Barrett Business Services, Inc. has a 12-month low of $35.81 and a 12-month high of $49.65. The firm has a market cap of $1.19 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.35.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last announced its earnings results on Wednesday, August 6th. The business services provider reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.05. Barrett Business Services had a return on equity of 24.59% and a net margin of 4.49%.The company had revenue of $307.70 million during the quarter, compared to analysts' expectations of $299.95 million. During the same period last year, the business posted $0.62 EPS. Barrett Business Services's revenue for the quarter was up 10.0% on a year-over-year basis. Research analysts expect that Barrett Business Services, Inc. will post 2 earnings per share for the current fiscal year.

Barrett Business Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, August 22nd. Barrett Business Services's dividend payout ratio (DPR) is presently 15.76%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BBSI. Wall Street Zen upgraded Barrett Business Services from a "hold" rating to a "buy" rating in a research note on Sunday, September 7th. Barrington Research lifted their price objective on Barrett Business Services from $45.00 to $49.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $47.00.

Institutional Investors Weigh In On Barrett Business Services

Several hedge funds and other institutional investors have recently made changes to their positions in BBSI. Osaic Holdings Inc. increased its position in Barrett Business Services by 31.2% during the second quarter. Osaic Holdings Inc. now owns 11,446 shares of the business services provider's stock worth $477,000 after buying an additional 2,722 shares during the period. Squarepoint Ops LLC acquired a new position in Barrett Business Services during the second quarter worth approximately $532,000. Tower Research Capital LLC TRC increased its holdings in shares of Barrett Business Services by 192.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,266 shares of the business services provider's stock valued at $178,000 after purchasing an additional 2,805 shares during the period. Voleon Capital Management LP acquired a new position in shares of Barrett Business Services in the second quarter valued at approximately $473,000. Finally, Tidal Investments LLC acquired a new position in shares of Barrett Business Services in the second quarter valued at approximately $238,000. Institutional investors and hedge funds own 86.76% of the company's stock.

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.