Westside Investment Management Inc. Acquires Shares of 907 Barrett Business Services, Inc. (NASDAQ:BBSI)

Westside Investment Management Inc. bought a new position in Barrett Business Services, Inc. (NASDAQ:BBSI) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 907 shares of the business services provider’s stock, valued at approximately $34,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. CWM LLC lifted its holdings in Barrett Business Services by 12,014.3% during the 2nd quarter. CWM LLC now owns 848 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 841 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Barrett Business Services in the 2nd quarter worth approximately $134,000. Assenagon Asset Management S.A. grew its position in Barrett Business Services by 88.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 86,398 shares of the business services provider’s stock worth $2,831,000 after acquiring an additional 40,519 shares during the last quarter. Lakewood Asset Management LLC increased its holdings in Barrett Business Services by 310.4% during the 2nd quarter. Lakewood Asset Management LLC now owns 9,764 shares of the business services provider’s stock valued at $320,000 after purchasing an additional 7,385 shares in the last quarter. Finally, Willner & Heller LLC increased its holdings in Barrett Business Services by 300.7% during the 2nd quarter. Willner & Heller LLC now owns 38,333 shares of the business services provider’s stock valued at $1,256,000 after purchasing an additional 28,767 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Barrett Business Services Stock Performance

Shares of BBSI opened at $43.29 on Friday. The business’s fifty day moving average price is $40.00 and its two-hundred day moving average price is $36.52. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 1.46 and a beta of 1.42. Barrett Business Services, Inc. has a 52 week low of $27.06 and a 52 week high of $44.39.

Barrett Business Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were given a $0.08 dividend. The ex-dividend date was Friday, November 22nd. This represents a $0.32 dividend on an annualized basis and a yield of 0.74%. Barrett Business Services’s payout ratio is 16.93%.

Analysts Set New Price Targets

Several brokerages have recently commented on BBSI. StockNews.com upgraded Barrett Business Services from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Barrington Research reissued an “outperform” rating and set a $45.00 price objective on shares of Barrett Business Services in a report on Wednesday. Finally, Roth Mkm raised their price objective on shares of Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Insider Buying and Selling

In other Barrett Business Services news, Director Joseph Stephen Clabby bought 1,635 shares of the stock in a transaction on Tuesday, November 12th. The stock was purchased at an average price of $43.01 per share, with a total value of $70,321.35. Following the acquisition, the director now owns 11,327 shares of the company’s stock, valued at approximately $487,174.27. The trade was a 16.87 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas B. Cusick sold 3,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $43.41, for a total transaction of $130,230.00. Following the sale, the director now owns 27,776 shares of the company’s stock, valued at $1,205,756.16. The trade was a 9.75 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

About Barrett Business Services

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.