SG Americas Securities LLC Boosts Stock Position in Barrett Business Services, Inc. (NASDAQ:BBSI)

SG Americas Securities LLC grew its stake in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 197.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 12,137 shares of the business services provider’s stock after buying an additional 8,055 shares during the period. SG Americas Securities LLC’s holdings in Barrett Business Services were worth $455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. LSV Asset Management lifted its position in shares of Barrett Business Services by 0.3% during the first quarter. LSV Asset Management now owns 30,072 shares of the business services provider’s stock worth $3,811,000 after acquiring an additional 100 shares in the last quarter. Bridge City Capital LLC lifted its position in shares of Barrett Business Services by 2.4% during the first quarter. Bridge City Capital LLC now owns 14,287 shares of the business services provider’s stock worth $1,810,000 after acquiring an additional 332 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Barrett Business Services by 10.3% during the first quarter. BNP Paribas Financial Markets now owns 5,462 shares of the business services provider’s stock worth $692,000 after acquiring an additional 509 shares in the last quarter. Amalgamated Bank lifted its position in shares of 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 acquiring an additional 702 shares in the last quarter. Finally, CWM LLC raised its position in shares of Barrett Business Services by 12,014.3% in the second quarter. CWM LLC now owns 848 shares of the business services provider’s stock worth $28,000 after buying an additional 841 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Barrington Research increased their price objective on Barrett Business Services from $35.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Roth Mkm increased their price objective on Barrett Business Services from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st.

Barrett Business Services Stock Performance

Shares of BBSI stock opened at $38.01 on Thursday. Barrett Business Services, Inc. has a 52-week low of $21.59 and a 52-week high of $38.07. The company has a market capitalization of $994.61 million, a PE ratio of 20.88, a price-to-earnings-growth ratio of 1.24 and a beta of 1.38. The business’s fifty day moving average is $36.11 and its 200 day moving average is $33.71.

Barrett Business Services (NASDAQ:BBSI) last released its earnings results on Wednesday, July 31st. The business services provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $279.60 million for the quarter, compared to analysts’ expectations of $273.13 million. Barrett Business Services had a return on equity of 25.69% and a net margin of 4.50%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.62 earnings per share. On average, sell-side analysts forecast that Barrett Business Services, Inc. will post 1.99 EPS for the current fiscal year.

Barrett Business Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Friday, August 16th. This is a boost from Barrett Business Services’s previous quarterly dividend of $0.08. Barrett Business Services’s dividend payout ratio is currently 17.58%.

Insider Activity at Barrett Business Services

In related news, CEO Gary Kramer sold 34,288 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $35.05, for a total value of $1,201,794.40. Following the transaction, the chief executive officer now owns 242,543 shares of the company’s stock, valued at $8,501,132.15. This 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 is available through the SEC website. Insiders have sold a total of 35,133 shares of company stock valued at $1,231,357 over the last 90 days. 3.70% of the stock is owned by insiders.

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.