Summit Global Investments Acquires 352 Shares of Barrett Business Services, Inc. (NASDAQ:BBSI)

Summit Global Investments boosted its holdings in Barrett Business Services, Inc. (NASDAQ:BBSI) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,456 shares of the business services provider’s stock after purchasing an additional 352 shares during the period. Summit Global Investments’ holdings in Barrett Business Services were worth $917,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BBSI. BNP Paribas Financial Markets boosted its holdings in shares of Barrett Business Services by 10.3% in the 1st quarter. BNP Paribas Financial Markets now owns 5,462 shares of the business services provider’s stock worth $692,000 after buying an additional 509 shares during the last quarter. LSV Asset Management grew its position in shares of Barrett Business Services by 0.3% during the 1st quarter. LSV Asset Management now owns 30,072 shares of the business services provider’s stock valued at $3,811,000 after acquiring an additional 100 shares during the period. Hillsdale Investment Management Inc. increased its stake in shares of Barrett Business Services by 8.7% during the 1st quarter. Hillsdale Investment Management Inc. now owns 42,470 shares of the business services provider’s stock worth $5,382,000 after purchasing an additional 3,400 shares during the last quarter. Quadrature Capital Ltd raised its holdings in shares of Barrett Business Services by 74.4% in the 1st quarter. Quadrature Capital Ltd now owns 10,435 shares of the business services provider’s stock worth $1,318,000 after purchasing an additional 4,450 shares during the period. Finally, Lazard Asset Management LLC lifted its stake in Barrett Business Services by 64.4% in the first quarter. Lazard Asset Management LLC now owns 2,546 shares of the business services provider’s stock valued at $322,000 after purchasing an additional 997 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

Barrett Business Services Price Performance

NASDAQ:BBSI opened at $41.37 on Friday. Barrett Business Services, Inc. has a 1 year low of $25.58 and a 1 year high of $41.48. The stock’s fifty day moving average price is $36.91 and its two-hundred day moving average price is $34.57. The company has a market cap of $1.08 billion, a P/E ratio of 21.83, a P/E/G ratio of 1.35 and a beta of 1.39.

Barrett Business Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.32 annualized dividend and a yield of 0.77%. Barrett Business Services’s dividend payout ratio is currently 16.89%.

Insider Buying and Selling at Barrett Business Services

In other news, CEO Gary Kramer sold 34,288 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $35.05, for a total value of $1,201,794.40. Following the completion of the transaction, the chief executive officer now directly owns 242,543 shares in the company, valued at approximately $8,501,132.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

BBSI has been the topic of several research reports. 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. Roth Mkm boosted their price objective on Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday.

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.