Los Angeles Capital Management LLC Boosts Holdings in Barrett Business Services, Inc. (NASDAQ:BBSI)
Los Angeles Capital Management LLC raised its stake in shares of Barrett Business Services, Inc. (NASDAQ:BBSI – Get Rating) by 44.4{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,801 shares of the business services provider’s stock after purchasing an additional 2,400 shares during the period. Los Angeles Capital Management LLC owned 0.11{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} of Barrett Business Services worth $604,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in Barrett Business Services during the fourth quarter valued at $458,000. Euclidean Technologies Management LLC purchased a new position in Barrett Business Services during the fourth quarter valued at $2,050,000. Grandeur Peak Global Advisors LLC lifted its holdings in Barrett Business Services by 5.6{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} during the fourth quarter. Grandeur Peak Global Advisors LLC now owns 137,292 shares of the business services provider’s stock valued at $9,481,000 after purchasing an additional 7,220 shares in the last quarter. Confluence Wealth Services Inc. purchased a new position in Barrett Business Services during the fourth quarter valued at $27,000. Finally, Lapides Asset Management LLC lifted its holdings in Barrett Business Services by 68.4{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} during the first quarter. Lapides Asset Management LLC now owns 51,200 shares of the business services provider’s stock valued at $3,966,000 after purchasing an additional 20,800 shares in the last quarter. 81.74{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Barrett Business Services
In related news, CEO Gary Kramer purchased 1,000 shares of the company’s stock in a transaction on Friday, May 20th. The stock was acquired at an average cost of $70.13 per share, for a total transaction of $70,130.00. Following the completion of the transaction, the chief executive officer now directly owns 34,451 shares in the company, valued at $2,416,048.63. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.00{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on BBSI. Barrington Research raised their price target on shares of Barrett Business Services from $85.00 to $102.00 in a research note on Thursday, May 5th. Roth Capital reissued a “buy” rating on shares of Barrett Business Services in a research note on Thursday, May 5th. StockNews.com downgraded shares of Barrett Business Services from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 13th. TheStreet downgraded shares of Barrett Business Services from a “b-” rating to a “c+” rating in a research note on Tuesday, May 24th. Finally, Sidoti reissued a “buy” rating and issued a $97.00 price target on shares of Barrett Business Services in a research note on Tuesday, June 14th. Four analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $102.33.
Barrett Business Services Trading Up 1.6 {ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}
Barrett Business Services stock opened at $84.66 on Friday. Barrett Business Services, Inc. has a 12-month low of $57.76 and a 12-month high of $86.82. The stock has a market cap of $600.24 million, a P/E ratio of 14.40, a PEG ratio of 0.95 and a beta of 1.39. The company has a 50-day moving average price of $75.75 and a 200 day moving average price of $72.71.
Barrett Business Services (NASDAQ:BBSI – Get Rating) last released its quarterly earnings data on Wednesday, August 3rd. The business services provider reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.61. Barrett Business Services had a net margin of 4.33{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} and a return on equity of 22.59{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}. During the same quarter in the previous year, the company earned $2.24 earnings per share. As a group, analysts forecast that Barrett Business Services, Inc. will post 6.3 EPS for the current year.
Barrett Business Services Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Shareholders of record on Friday, August 19th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.42{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}. The ex-dividend date of this dividend is Thursday, August 18th. Barrett Business Services’s dividend payout ratio is presently 20.41{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}.
Barrett Business Services 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.
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