Rhumbline Advisers increased its position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI – Free Report) by 306.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,736 shares of the business services provider’s stock after acquiring an additional 29,956 shares during the quarter. Rhumbline Advisers’ holdings in Barrett Business Services were worth $1,302,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Barrett Business Services by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 84,945 shares of the business services provider’s stock worth $9,837,000 after purchasing an additional 1,252 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Barrett Business Services by 28.4% during the 4th quarter. Principal Financial Group Inc. now owns 3,961 shares of the business services provider’s stock worth $459,000 after acquiring an additional 875 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of Barrett Business Services during the 4th quarter worth about $563,000. Trexquant Investment LP lifted its holdings in shares of Barrett Business Services by 53.4% during the 4th quarter. Trexquant Investment LP now owns 3,616 shares of the business services provider’s stock worth $419,000 after acquiring an additional 1,259 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Barrett Business Services by 10.8% during the 4th quarter. Wellington Management Group LLP now owns 193,903 shares of the business services provider’s stock worth $22,454,000 after acquiring an additional 18,897 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.
Barrett Business Services Stock Down 1.0 %
NASDAQ BBSI opened at $36.78 on Tuesday. The company has a market capitalization of $962.42 million, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.20 and a beta of 1.38. Barrett Business Services, Inc. has a 12-month low of $21.59 and a 12-month high of $37.81. The firm’s 50 day moving average is $35.60 and its 200-day moving average is $33.01.
Barrett Business Services (NASDAQ:BBSI – Get Free Report) last issued its earnings results on Wednesday, July 31st. The business services provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $279.60 million for the quarter, compared to the consensus estimate of $273.13 million. Barrett Business Services had a net margin of 4.50% and a return on equity of 25.69%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.62 earnings per share. As a group, sell-side analysts expect that Barrett Business Services, Inc. will post 1.99 EPS for the current year.
Barrett Business Services Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.08 dividend. This is an increase from Barrett Business Services’s previous quarterly dividend of $0.08. This represents a $0.32 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Friday, August 16th. Barrett Business Services’s payout ratio is currently 17.58%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the stock. Barrington Research increased their target price on shares of Barrett Business Services from $35.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. StockNews.com lowered shares of Barrett Business Services from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 29th. Roth Mkm lifted their price objective on shares of Barrett Business Services from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Sidoti lowered shares of Barrett Business Services from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research note on Wednesday, June 5th.
Read Our Latest Research Report on BBSI
Insider Activity
In other news, CEO Gary Kramer sold 805 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $35.00, for a total value of $28,175.00. Following the completion of the sale, the chief executive officer now owns 276,831 shares of the company’s stock, valued at $9,689,085. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 35,133 shares of company stock valued at $1,231,357. 3.70% of the stock is owned by company insiders.
Barrett Business Services Profile
(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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