Barrett Business Services (NASDAQ:BBSI) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Barrett Business Services (NASDAQ:BBSI) reported quarterly earnings of $0.79 per share, missing estimates of $0.81 by $0.02. The company has a return on equity of 24.59% and a net margin of 4.49%. Following the earnings announcement, shares rose 1.2% to $40.72. Analysts have mixed ratings on the stock, with an average price target of $47.00. Recent insider sales indicate a decrease in ownership, while institutional investors hold 86.76% of the stock. Barrett provides business management solutions for small and mid-sized companies in the U.S.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) issued its quarterly earnings data on Wednesday. The business services provider reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.02), Zacks reports. Barrett Business Services had a return on equity of 24.59% and a net margin of 4.49%.

Barrett Business Services Trading Up 1.2%

Shares of NASDAQ:BBSI traded up $0.48 during midday trading on Wednesday, reaching $40.72. The company's stock had a trading volume of 511,719 shares, compared to its average volume of 151,258. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 1.31 and a beta of 1.00. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.35. Barrett Business Services has a 1 year low of $37.46 and a 1 year high of $49.65. The business has a 50 day moving average price of $44.61 and a 200 day moving average price of $43.61.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen cut Barrett Business Services from a "buy" rating to a "hold" rating in a report on Saturday, October 25th. Weiss Ratings reissued a "buy (b)" rating on shares of Barrett Business Services in a report on Tuesday, October 14th. Finally, Barrington Research reissued an "outperform" rating and issued a $49.00 price target on shares of Barrett Business Services in a report on Tuesday, October 28th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $47.00.

View Our Latest Research Report on BBSI

Insiders Place Their Bets

In other Barrett Business Services news, Director Anthony Meeker sold 3,064 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $46.78, for a total transaction of $143,333.92. Following the completion of the sale, the director owned 54,601 shares of the company's stock, valued at approximately $2,554,234.78. The trade was a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas B. Cusick sold 3,064 shares of the business'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 directly owned 27,776 shares of the company's stock, valued at approximately $1,323,248.64. This trade represents a 9.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 110,438 shares of company stock valued at $5,296,983. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Barrett Business Services

Large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its holdings in Barrett Business Services by 270.2% during the 2nd quarter. NewEdge Advisors LLC now owns 1,999 shares of the business services provider's stock valued at $83,000 after purchasing an additional 1,459 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Barrett Business Services by 192.0% during the 2nd 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 in the last quarter. Tidal Investments LLC acquired a new stake in Barrett Business Services during the 2nd quarter valued at $238,000. Creative Planning grew its holdings in Barrett Business Services by 71.8% during the 2nd quarter. Creative Planning now owns 9,778 shares of the business services provider's stock valued at $408,000 after purchasing an additional 4,085 shares in the last quarter. Finally, Voleon Capital Management LP acquired a new stake in Barrett Business Services during the 2nd quarter valued at $473,000. 86.76% of the stock is owned by institutional investors and hedge funds.

About Barrett Business Services

(Get Free Report)

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.

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