Millennium Management LLC grew its stake in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 93.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,425 shares of the business services provider’s stock after buying an additional 51,782 shares during the period. Millennium Management LLC owned 1.47% of Barrett Business Services worth $6,928,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC bought a new stake in Barrett Business Services during the 4th quarter valued at approximately $158,000. OxFORD Asset Management LLP bought a new stake in Barrett Business Services during the 3rd quarter valued at approximately $438,000. Stone Ridge Asset Management LLC bought a new stake in Barrett Business Services during the 4th quarter valued at approximately $558,000. Two Sigma Advisers LP raised its stake in Barrett Business Services by 23.7% during the 4th quarter. Two Sigma Advisers LP now owns 9,407 shares of the business services provider’s stock valued at $607,000 after purchasing an additional 1,800 shares during the period. Finally, Bessemer Group Inc. raised its stake in Barrett Business Services by 55.7% during the 4th quarter. Bessemer Group Inc. now owns 9,500 shares of the business services provider’s stock valued at $613,000 after purchasing an additional 3,400 shares during the period. 78.04% of the stock is currently owned by institutional investors.
Shares of BBSI opened at $86.14 on Friday. The company has a market cap of $625.57, a P/E ratio of 25.87 and a beta of 1.20. Barrett Business Services, Inc. has a 12-month low of $44.52 and a 12-month high of $89.87. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.96 and a current ratio of 0.96.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 16th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Thursday, March 15th. Barrett Business Services’s payout ratio is 30.03%.
In other Barrett Business Services news, Director Jon L. Justesen sold 4,000 shares of Barrett Business Services stock in a transaction that occurred on Thursday, March 22nd. The stock was sold at an average price of $86.00, for a total value of $344,000.00. Following the sale, the director now owns 15,218 shares of the company’s stock, valued at approximately $1,308,748. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 6.00% of the company’s stock.
Several analysts recently issued reports on the company. BidaskClub raised Barrett Business Services from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 13th. ValuEngine raised Barrett Business Services from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 2nd. Finally, Roth Capital reissued a “buy” rating and set a $105.00 target price on shares of Barrett Business Services in a research note on Wednesday, March 7th.
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About Barrett Business Services
Barrett Business Services, Inc provides business management solutions for small and medium-sized companies in the United States. The company has management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry.
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