Carley Thomas J, a director at Barrett Business Services Inc. (NASDAQ:BBSI), recently sold a significant portion of the company's common stock. The transaction, dated November 19, involved the sale of 4,584 shares at a weighted average price of $41.24 per share, amounting to a total of $189,060. Following this sale, Thomas holds 91,628 shares directly. Additionally, there are 12,008 shares held indirectly by a spouse.
The transaction was executed at prices ranging from $41.20 to $41.30, as noted in the filing. This sale reflects Thomas's ongoing management of his investment in the company.
In other recent news, Barrett Business Services, Inc. (BBSI) announced its financial results for the third quarter of 2024. The company's president and CEO, Gary Kramer, along with CFO Anthony Harris, provided insights into the company's performance and future outlook. Despite acknowledging potential risks and uncertainties, BBSI remains optimistic about its future performance.
The company also offered forward-looking statements during the call, indicating its plans and expectations for future financial performance. However, these statements come with a cautionary note regarding their reliability due to the inherent risks and uncertainties. No specific financial misses were discussed during the call.
The call, which featured a Q&A session, allowed participants to inquire further about BBSI's performance and expectations. A replay of the call will be available until December 6, 2024, for those interested in a detailed review of the discussion. These are among the recent developments for BBSI.
InvestingPro Insights
To provide additional context to Carley Thomas J's recent stock sale, it's worth examining some key financial metrics and insights from InvestingPro for Barrett Business Services Inc. (NASDAQ:BBSI).
According to InvestingPro data, BBSI's market capitalization stands at $1.08 billion, with a P/E ratio of 21.56. This valuation metric aligns with an InvestingPro Tip indicating that BBSI is "Trading at a high P/E ratio relative to near-term earnings growth," suggesting the stock may be relatively expensive compared to its expected growth.
On a positive note, BBSI has demonstrated strong financial performance, with revenue reaching $1.12 billion in the last twelve months as of Q3 2023, representing a growth of 4.87%. The company's profitability is also noteworthy, with a gross profit margin of 22.17% during the same period.
An InvestingPro Tip highlights that BBSI "Has maintained dividend payments for 19 consecutive years," which may be attractive to income-focused investors. The current dividend yield stands at 0.77%, with a dividend growth of 6.67% in the last twelve months.
The stock's recent performance has been particularly impressive, with a one-year price total return of 51.05% as of the latest data. This aligns with another InvestingPro Tip noting a "High return over the last year" for BBSI.
For investors seeking a more comprehensive analysis, InvestingPro offers 8 additional tips for BBSI, providing a deeper understanding of the company's financial health and market position.
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