Barrett Business Services (NASDAQ:BBSI) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Barrett Business Services, Inc. (NASDAQ:BBSIGet Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $38.87 and traded as high as $44.01. Barrett Business Services shares last traded at $43.85, with a volume of 65,701 shares changing hands.

Analyst Upgrades and Downgrades

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

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Barrett Business Services Trading Up 0.7 %

The firm has a fifty day moving average price of $43.08 and a 200 day moving average price of $38.87. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 23.14, a P/E/G ratio of 1.33 and a beta of 1.42.

Barrett Business Services Announces Dividend

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

Insiders Place Their Bets

In other Barrett Business Services news, Director Thomas J. Carley sold 4,584 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.24, for a total transaction of $189,044.16. Following the completion of the sale, the director now owns 91,628 shares in the company, valued at approximately $3,778,738.72. The trade was a 4.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph Stephen Clabby acquired 1,635 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average price of $43.01 per share, with a total value of $70,321.35. Following the transaction, the director now owns 11,327 shares in the company, valued at $487,174.27. This represents a 16.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Barrett Business Services

A number of large investors have recently modified their holdings of the business. Summit Global Investments lifted its stake in Barrett Business Services by 1.5% in the 3rd quarter. Summit Global Investments now owns 24,456 shares of the business services provider’s stock valued at $917,000 after purchasing an additional 352 shares during the last quarter. Perkins Coie Trust Co lifted its stake in Barrett Business Services by 11.1% in the 3rd quarter. Perkins Coie Trust Co now owns 4,000 shares of the business services provider’s stock valued at $150,000 after purchasing an additional 400 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Barrett Business Services by 5.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,310 shares of the business services provider’s stock valued at $462,000 after acquiring an additional 679 shares during the period. Amalgamated Bank raised its holdings in Barrett Business Services by 300.0% in the 2nd quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 702 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Barrett Business Services by 1.7% in the 3rd quarter. Franklin Resources Inc. now owns 42,790 shares of the business services provider’s stock valued at $1,590,000 after acquiring an additional 704 shares during the period. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Barrett Business Services Company Profile

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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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