Barrett Business Services (NASDAQ:BBSI) Sets New 52-Week High – What’s Next?

Shares of Barrett Business Services, Inc. (NASDAQ:BBSI) hit a new 52-week high during trading on Monday . The company traded as high as $43.58 and last traded at $43.58, with a volume of 10193 shares trading hands. The stock had previously closed at $42.76.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Roth Mkm boosted their price objective on Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of Barrett Business Services from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Barrington Research boosted their target price on shares of Barrett Business Services from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th.

Barrett Business Services Stock Up 0.2 %

The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 1.43 and a beta of 1.39. The company’s 50-day moving average is $38.34 and its 200-day moving average is $35.49.

Barrett Business Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.32 annualized dividend and a yield of 0.74%. Barrett Business Services’s dividend payout ratio is 16.93%.

Insiders Place Their Bets

In related news, Director Thomas J. Carley sold 4,584 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.24, for a total value of $189,044.16. Following the transaction, the director now directly owns 91,628 shares in the company, valued at $3,778,738.72. This represents a 4.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph Stephen Clabby acquired 1,635 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average price of $43.01 per share, for a total transaction of $70,321.35. Following the completion of the acquisition, the director now directly owns 11,327 shares of the company’s stock, valued at $487,174.27. This trade represents a 16.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Barrett Business Services

Large investors have recently bought and sold shares of the business. CWM LLC lifted its holdings in Barrett Business Services by 12,014.3% in the second quarter. CWM LLC now owns 848 shares of the business services provider’s stock valued at $28,000 after buying an additional 841 shares during the period. Truvestments Capital LLC acquired a new position in Barrett Business Services in the third quarter valued at approximately $34,000. Westside Investment Management Inc. acquired a new position in Barrett Business Services in the third quarter valued at approximately $34,000. Amalgamated Bank raised its holdings in Barrett Business Services by 300.0% in the second quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock worth $31,000 after purchasing an additional 702 shares during the period. Finally, Huntington National Bank acquired a new stake in Barrett Business Services in the third quarter worth $39,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

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.