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

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 dated Wednesday, August 13th. The shares were sold at an average price of $47.64, for a total value of $145,968.96. Following the sale, the director owned 27,776 shares of the company's stock, valued at $1,323,248.64. This represents a 9.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Barrett Business Services Stock Up 0.7%

Shares of NASDAQ BBSI traded up $0.31 during mid-day trading on Monday, reaching $46.34. The company had a trading volume of 36,075 shares, compared to its average volume of 143,083. The stock has a market capitalization of $1.19 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 1.50 and a beta of 1.02. The stock's 50 day moving average is $43.70 and its 200-day moving average is $41.93. Barrett Business Services, Inc. has a twelve month low of $34.36 and a twelve month high of $48.48. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.25 and a current ratio of 1.25.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last announced its quarterly earnings results 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. Barrett Business Services had a net margin of 4.49% and a return on equity of 24.59%. The firm had revenue of $307.70 million during the quarter, compared to analysts' expectations of $299.95 million. During the same quarter last year, the company earned $0.62 earnings per share. The company's revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, equities analysts anticipate that Barrett Business Services, Inc. will post 2 earnings per share for the current fiscal year.

Barrett Business Services Announces Dividend

The firm also recently announced 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 is Friday, August 22nd. This represents a $0.32 annualized dividend and a yield of 0.7%. Barrett Business Services's payout ratio is currently 15.76%.

Wall Street Analysts Forecast Growth

BBSI has been the topic of a number of recent analyst reports. Barrington Research lifted their price target on Barrett Business Services from $45.00 to $49.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Wall Street Zen raised Barrett Business Services from a "hold" rating to a "buy" rating in a report on Saturday.

Hedge Funds Weigh In On Barrett Business Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BBSI. GW&K Investment Management LLC raised its stake in shares of Barrett Business Services by 2.1% in the 1st quarter. GW&K Investment Management LLC now owns 528,243 shares of the business services provider's stock valued at $21,737,000 after purchasing an additional 10,627 shares during the period. Northern Trust Corp increased its position in shares of Barrett Business Services by 4.2% in the fourth quarter. Northern Trust Corp now owns 393,267 shares of the business services provider's stock valued at $17,084,000 after acquiring an additional 15,900 shares during the last quarter. Riverbridge Partners LLC acquired a new position in Barrett Business Services during the second quarter worth approximately $14,792,000. Nuveen LLC bought a new stake in shares of Barrett Business Services in the first quarter valued at approximately $12,999,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Barrett Business Services by 12.0% during the first quarter. Russell Investments Group Ltd. now owns 187,629 shares of the business services provider's stock worth $7,721,000 after buying an additional 20,169 shares in 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.