Barrett Business Services (NASDAQ:BBSI) Reaches New 52-Week High – Here’s What Happened

Barrett Business Services, Inc. (NASDAQ:BBSI)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $43.58 and last traded at $43.58, with a volume of 10193 shares trading hands. The stock had previously closed at $42.76.

Analyst Upgrades and Downgrades

BBSI has been the topic of a number of research analyst reports. Roth Mkm boosted their price target on shares of Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. StockNews.com raised shares of Barrett Business Services from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, Barrington Research lifted their price objective on shares of Barrett Business Services from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th.

Barrett Business Services Stock Up 1.4 %

The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.43 and a beta of 1.39. The business’s fifty day moving average is $38.20 and its two-hundred day moving average is $35.41.

Barrett Business Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Friday, November 22nd. Barrett Business Services’s dividend payout ratio (DPR) is presently 16.89%.

Insiders Place Their Bets

In related news, Director Joseph Stephen Clabby acquired 1,635 shares of Barrett Business Services stock in a transaction dated Tuesday, November 12th. The stock was acquired at an average price of $43.01 per share, for a total transaction of $70,321.35. Following the transaction, the director now owns 11,327 shares of the company’s stock, valued at $487,174.27. This represents a 16.87 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas J. Carley sold 4,584 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.24, for a total transaction of $189,044.16. Following the sale, the director now owns 91,628 shares of the company’s stock, valued at $3,778,738.72. This represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.

Institutional Trading of Barrett Business Services

Several institutional investors have recently modified their holdings of the stock. Westside Investment Management Inc. purchased a new stake in shares of Barrett Business Services during the 3rd quarter worth approximately $34,000. Continental Investors Services Inc. purchased a new stake in Barrett Business Services in the 3rd quarter valued at $216,000. Geode Capital Management LLC raised its position in Barrett Business Services by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 705,598 shares of the business services provider’s stock valued at $26,471,000 after purchasing an additional 32,632 shares during the last quarter. Barclays PLC raised its position in Barrett Business Services by 42.9% in the 3rd quarter. Barclays PLC now owns 61,332 shares of the business services provider’s stock valued at $2,300,000 after purchasing an additional 18,414 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in Barrett Business Services in the 3rd quarter valued at $246,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Barrett Business Services Company 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.