Barrett Business Services (NASDAQ:BBSI) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Barrett Business Services, Inc. (NASDAQ:BBSI) shares 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 changing hands.

Analysts Set New Price Targets

BBSI has been the topic of a number of recent research reports. Roth Mkm upped their target price on shares of Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Barrington Research reissued an “outperform” rating and issued a $45.00 price objective on shares of Barrett Business Services in a research report on Wednesday, December 11th. Finally, StockNews.com raised shares of Barrett Business Services from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th.

Barrett Business Services Price Performance

The company has a market capitalization of $1.14 billion, a PE ratio of 23.15, a price-to-earnings-growth ratio of 1.25 and a beta of 1.42. The company’s 50 day simple moving average is $42.87 and its 200 day simple moving average is $38.35.

Barrett Business Services Announces Dividend

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

Insiders Place Their Bets

In other news, Director Thomas J. Carley sold 4,584 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 of the company’s stock, valued at approximately $3,778,738.72. This represents a 4.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph Stephen Clabby bought 1,635 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was acquired at an average cost of $43.01 per share, for a total transaction of $70,321.35. Following the completion of the acquisition, the director now directly owns 11,327 shares in the company, valued at approximately $487,174.27. This trade represents a 16.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Barrett Business Services

Several hedge funds have recently made changes to their positions in the business. Amalgamated Bank lifted its holdings in shares of Barrett Business Services by 300.0% during the second quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock worth $31,000 after purchasing an additional 702 shares during the period. Truvestments Capital LLC acquired a new stake in shares of Barrett Business Services in the 3rd quarter worth $34,000. Westside Investment Management Inc. purchased a new stake in shares of Barrett Business Services in the third quarter valued at about $34,000. Huntington National Bank purchased a new stake in shares of Barrett Business Services in the third quarter valued at about $39,000. Finally, USA Financial Formulas purchased a new position in Barrett Business Services during the third quarter worth about $60,000. 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.