Thomas B. Cusick Sells 3,064 Shares of Barrett Business Services (NASDAQ:BBSI) Stock

Key Points

• Director Thomas B. Cusick of Barrett Business Services sold 3,064 shares for $145,968.96, reducing his holdings by 9.94% to 27,776 shares, valued at approximately $1.32 million.
• The company reported a quarterly EPS of $0.70, exceeding estimates, alongside a 10% increase in revenue year-over-year to $307.70 million.
• Barrett Business Services announced a quarterly dividend of $0.08 per share, with a yield of 0.7%, payable on September 5th.

Barrett Business Services, Inc. (NASDAQ:BBSI - Get Free Report) Director Thomas B. Cusick sold 3,064 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $47.64, for a total transaction of $145,968.96. Following the sale, the director directly owned 27,776 shares of the company's stock, valued at approximately $1,323,248.64. The trade was a 9.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Barrett Business Services Price Performance

NASDAQ BBSI traded down $0.06 during trading hours on Wednesday, reaching $46.37. 110,395 shares of the company's stock were exchanged, compared to its average volume of 164,665. The firm has a fifty day moving average of $43.97 and a 200-day moving average of $42.01. Barrett Business Services, Inc. has a one year low of $34.43 and a one year high of $48.48. The stock has a market cap of $1.19 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 1.51 and a beta of 1.02. 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 posted its quarterly earnings data on Wednesday, August 6th. The business services provider reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.05. The company had revenue of $307.70 million for the quarter, compared to analyst estimates of $299.95 million. Barrett Business Services had a return on equity of 24.59% and a net margin of 4.49%.The business's revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 earnings per share. On average, equities research analysts predict 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 will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $0.32 dividend on an annualized basis and a yield of 0.7%. Barrett Business Services's dividend payout ratio is currently 15.76%.

Analyst Ratings Changes

A number of equities analysts have weighed in on BBSI shares. Barrington Research boosted their target price on shares of Barrett Business Services from $45.00 to $49.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Wall Street Zen raised Barrett Business Services from a "hold" rating to a "buy" rating in a report on Saturday. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $47.00.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BBSI. Deutsche Bank AG grew its stake in shares of Barrett Business Services by 43.3% during the fourth quarter. Deutsche Bank AG now owns 27,831 shares of the business services provider's stock worth $1,209,000 after purchasing an additional 8,403 shares during the period. Two Sigma Investments LP bought a new position in Barrett Business Services during the fourth quarter worth about $353,000. GAMMA Investing LLC grew its position in shares of Barrett Business Services by 5,807.9% during the 1st quarter. GAMMA Investing LLC now owns 11,934 shares of the business services provider's stock worth $491,000 after buying an additional 11,732 shares during the period. Brio Consultants LLC acquired a new position in shares of Barrett Business Services during the 1st quarter worth about $284,000. Finally, Bank of America Corp DE increased its stake in shares of Barrett Business Services by 1.5% in the 4th quarter. Bank of America Corp DE now owns 78,617 shares of the business services provider's stock valued at $3,415,000 after acquiring an additional 1,177 shares during the last quarter. 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.