Barrett Business Services (NASDAQ:BBSI) Hits New 12-Month High – Here’s What Happened

Shares of Barrett Business Services, Inc. (NASDAQ:BBSI) reached a new 52-week high on Wednesday . The stock traded as high as $43.84 and last traded at $43.84, with a volume of 9656 shares traded. The stock had previously closed at $43.30.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Roth Mkm lifted 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. Barrington Research boosted their target price on Barrett Business Services from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, StockNews.com raised Barrett Business Services from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th.

Barrett Business Services Trading Up 1.5 %

The business has a fifty day simple moving average of $39.07 and a 200 day simple moving average of $35.99. The stock has a market capitalization of $1.14 billion, a P/E ratio of 22.85, a price-to-earnings-growth ratio of 1.45 and a beta of 1.42.

Barrett Business Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Friday, November 22nd. Barrett Business Services’s dividend payout ratio is currently 16.89%.

Insider Transactions at Barrett Business Services

In related news, Director Thomas B. Cusick sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $43.41, for a total value of $130,230.00. Following the transaction, the director now owns 27,776 shares in the company, valued at approximately $1,205,756.16. This represents a 9.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas J. Carley sold 4,584 shares of the company’s 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 completion of the transaction, the director now owns 91,628 shares in the company, valued at approximately $3,778,738.72. The trade was a 4.76 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Barrett Business Services

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC increased its holdings 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 purchasing an additional 841 shares during the period. Amalgamated Bank increased its holdings in shares of 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. Truvestments Capital LLC bought a new position in shares of Barrett Business Services in the third quarter worth $34,000. Westside Investment Management Inc. bought a new position in shares of Barrett Business Services in the third quarter worth $34,000. Finally, Huntington National Bank bought a new position in shares of Barrett Business Services in the third quarter worth $39,000. Institutional investors own 86.76% of the company’s stock.

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.