Barrett Business Services, Inc. $BBSI Shares Newly Bought by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC acquired a new stake in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 23,495 shares of the business services provider’s stock, valued at approximately $711,000. SummerHaven Investment Management LLC owned approximately 0.10% of Barrett Business Services as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BBSI. Integrated Wealth Concepts LLC purchased a new stake in shares of Barrett Business Services in the second quarter worth about $26,000. GAMMA Investing LLC boosted its stake in Barrett Business Services by 131.0% during the second quarter. GAMMA Investing LLC now owns 2,206 shares of the business services provider’s stock valued at $78,000 after buying an additional 1,251 shares during the last quarter. Fifth Third Bancorp boosted its stake in Barrett Business Services by 772.6% during the first quarter. Fifth Third Bancorp now owns 3,953 shares of the business services provider’s stock valued at $115,000 after buying an additional 3,500 shares during the last quarter. State of Wyoming purchased a new position in Barrett Business Services during the 2nd quarter valued at approximately $157,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Barrett Business Services during the 2nd quarter valued at approximately $223,000. 86.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BBSI. Citigroup reaffirmed an “outperform” rating on shares of Barrett Business Services in a research note on Thursday, August 6th. Roth Capital downgraded Barrett Business Services from a “buy” rating to a “neutral” rating and lowered their target price for the company from $42.00 to $38.00 in a research report on Thursday, August 6th. Barrington Research set a $44.00 target price on Barrett Business Services in a research report on Thursday, August 6th. Zacks Research raised shares of Barrett Business Services from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Barrett Business Services in a report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Barrett Business Services has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Barrett Business Services Stock Up 0.6%

Barrett Business Services stock opened at $32.55 on Friday. The company’s 50-day moving average price is $32.59 and its 200-day moving average price is $33.24. The company has a market cap of $789.01 million, a PE ratio of 23.93, a price-to-earnings-growth ratio of 1.21 and a beta of 0.94. Barrett Business Services, Inc. has a twelve month low of $25.33 and a twelve month high of $43.04.

Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings results on Wednesday, August 5th. The business services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.04). The business had revenue of $319.27 million during the quarter, compared to the consensus estimate of $321.55 million. Barrett Business Services had a net margin of 2.77% and a return on equity of 20.95%. As a group, sell-side analysts expect that Barrett Business Services, Inc. will post 1.68 earnings per share for the current fiscal year.

Barrett Business Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, August 21st were given a dividend of $0.08 per share. The ex-dividend date was Friday, August 21st. This represents a $0.32 dividend on an annualized basis and a yield of 1.0%. Barrett Business Services’s dividend payout ratio is 23.53%.

Barrett Business Services Company Profile

Barrett Business Services, Inc (NASDAQ:BBSI) is a provider of business management and workforce solutions for small and midsize businesses in the United States. The company combines professional employer organization (PEO) services with staffing and management consulting to help clients manage employment-related responsibilities and day-to-day operations.

Its services include payroll administration, human resources support, employee benefits administration, risk management, workers’ compensation management, and regulatory compliance assistance.