Barrett Business Services (NASDAQ:BBSI) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Barrett Business Services (NASDAQ:BBSI) from a buy rating to a hold rating in a research report released on Monday.

BBSI has been the topic of a number of other reports. Roth Mkm boosted their price target on Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Barrington Research boosted their target price on Barrett Business Services from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th.

Barrett Business Services Stock Performance

Shares of BBSI opened at $41.90 on Monday. The firm has a market cap of $1.09 billion, a P/E ratio of 22.11, a PEG ratio of 1.43 and a beta of 1.39. Barrett Business Services has a twelve month low of $26.60 and a twelve month high of $43.29. The firm’s 50 day moving average price is $37.45 and its two-hundred day moving average price is $34.87.

Barrett Business Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Friday, November 22nd. Barrett Business Services’s dividend payout ratio is currently 16.89%.

Insider Buying and Selling

In related news, CEO Gary Kramer sold 34,288 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $35.05, for a total transaction of $1,201,794.40. Following the transaction, the chief executive officer now directly owns 242,543 shares in the company, valued at approximately $8,501,132.15. The trade was a 12.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Barrett Business Services

A number of large investors have recently added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of Barrett Business Services by 12,014.3% in the 2nd quarter. CWM LLC now owns 848 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 841 shares during the period. Amalgamated Bank increased its position in Barrett Business Services by 300.0% during the second quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock worth $31,000 after buying an additional 702 shares during the last quarter. Truvestments Capital LLC bought a new stake in Barrett Business Services in the third quarter valued at approximately $34,000. Huntington National Bank acquired a new stake in shares of Barrett Business Services in the third quarter valued at approximately $39,000. Finally, USA Financial Formulas acquired a new stake in shares of Barrett Business Services in the third quarter valued at approximately $60,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

About Barrett Business Services

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.