SummerHaven Investment Management LLC Acquires 332 Shares of Barrett Business Services, Inc. (NASDAQ:BBSI)

SummerHaven Investment Management LLC increased its stake in Barrett Business Services, Inc. (NASDAQ:BBSI) by 1.4% during the first quarter, Holdings Channel.com reports. The firm owned 23,827 shares of the business services provider’s stock after purchasing an additional 332 shares during the quarter. Barrett Business Services accounts for approximately 0.7% of SummerHaven Investment Management LLC’s holdings, making the stock its 24th largest position. SummerHaven Investment Management LLC’s holdings in Barrett Business Services were worth $980,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of BBSI. Prudent Man Investment Management Inc. bought a new stake in Barrett Business Services during the fourth quarter valued at about $35,000. Perkins Coie Trust Co grew its position in shares of Barrett Business Services by 10.0% during the first quarter. Perkins Coie Trust Co now owns 4,400 shares of the business services provider’s stock worth $181,000 after purchasing an additional 400 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Barrett Business Services during the 4th quarter valued at approximately $209,000. Two Sigma Securities LLC bought a new stake in Barrett Business Services during the 4th quarter valued at approximately $218,000. Finally, Brevan Howard Capital Management LP lifted its holdings in Barrett Business Services by 10.8% in the 4th quarter. Brevan Howard Capital Management LP now owns 6,773 shares of the business services provider’s stock worth $294,000 after purchasing an additional 660 shares in the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BBSI has been the subject of a number of research reports. Barrington Research restated an “outperform” rating and set a $45.00 target price on shares of Barrett Business Services in a research report on Tuesday, May 6th. Wall Street Zen downgraded shares of Barrett Business Services from a “strong-buy” rating to a “hold” rating in a report on Friday, May 16th.

Insider Transactions at Barrett Business Services

In other news, Director Thomas J. Carley sold 12,354 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $42.60, for a total value of $526,280.40. Following the sale, the director now owns 91,628 shares of the company’s stock, valued at approximately $3,903,352.80. This represents a 11.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.10% of the company’s stock.

Barrett Business Services Stock Performance

NASDAQ BBSI opened at $41.53 on Thursday. The stock has a 50 day moving average price of $40.96 and a 200-day moving average price of $41.74. Barrett Business Services, Inc. has a one year low of $31.77 and a one year high of $44.97. The company has a market capitalization of $1.07 billion, a P/E ratio of 21.92, a P/E/G ratio of 1.21 and a beta of 1.01.

Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings results on Wednesday, May 7th. The business services provider reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.09. The firm had revenue of $292.60 million during the quarter, compared to the consensus estimate of $285.91 million. Barrett Business Services had a net margin of 4.55% and a return on equity of 25.28%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.01) EPS. As a group, equities analysts predict that Barrett Business Services, Inc. will post 2 EPS for the current fiscal year.

Barrett Business Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Friday, May 23rd. Barrett Business Services’s payout ratio is 16.41%.

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.