Cullen Capital Management LLC Purchases New Shares in Barrett Business Services, Inc. $BBSI

Cullen Capital Management LLC acquired a new stake in Barrett Business Services, Inc. (NASDAQ:BBSI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 16,844 shares of the business services provider’s stock, valued at approximately $598,000. Cullen Capital Management LLC owned approximately 0.07% of Barrett Business Services as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Swiss National Bank increased its stake in shares of Barrett Business Services by 1.0% in the 3rd quarter. Swiss National Bank now owns 49,800 shares of the business services provider’s stock valued at $2,207,000 after purchasing an additional 500 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Barrett Business Services by 63.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,456 shares of the business services provider’s stock worth $53,000 after purchasing an additional 563 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Barrett Business Services by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,219 shares of the business services provider’s stock worth $626,000 after purchasing an additional 633 shares in the last quarter. Legal & General Group Plc grew its holdings in Barrett Business Services by 1.9% in the third quarter. Legal & General Group Plc now owns 37,091 shares of the business services provider’s stock valued at $1,644,000 after purchasing an additional 708 shares during the period. Finally, Deutsche Bank AG grew its holdings in Barrett Business Services by 4.3% in the fourth quarter. Deutsche Bank AG now owns 24,236 shares of the business services provider’s stock valued at $878,000 after purchasing an additional 997 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BBSI has been the subject of several research analyst reports. Wall Street Zen raised Barrett Business Services from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Roth Capital cut shares of Barrett Business Services from a “buy” rating to a “neutral” rating and dropped their price target for the company from $42.00 to $38.00 in a research note on Thursday, August 6th. Zacks Research lowered shares of Barrett Business Services from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Barrington Research set a $44.00 price objective on shares of Barrett Business Services in a research report on Thursday, August 6th. Finally, Citigroup restated an “outperform” rating on shares of Barrett Business Services in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Barrett Business Services Trading Up 1.1%

BBSI stock opened at $33.80 on Wednesday. Barrett Business Services, Inc. has a 12-month low of $25.33 and a 12-month high of $49.65. The business’s 50-day moving average is $36.35 and its 200 day moving average is $32.63. The stock has a market cap of $819.31 million, a price-to-earnings ratio of 24.85, a PEG ratio of 1.24 and a beta of 0.94.

Barrett Business Services (NASDAQ:BBSI) last announced its earnings results on Wednesday, August 5th. The business services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.04). The firm had revenue of $319.27 million for the quarter, compared to analyst estimates of $321.55 million. Barrett Business Services had a net margin of 2.77% and a return on equity of 20.95%. As a group, equities analysts forecast that Barrett Business Services, Inc. will post 1.68 EPS for the current fiscal year.

Barrett Business Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Friday, August 21st will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 21st. Barrett Business Services’s dividend payout ratio is currently 23.53%.

Insiders Place Their Bets

In other Barrett Business Services news, EVP James R. Potts sold 3,490 shares of Barrett Business Services stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $38.00, for a total transaction of $132,620.00. Following the sale, the executive vice president owned 32,035 shares of the company’s stock, valued at $1,217,330. The trade was a 9.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anthony Meeker sold 12,000 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $37.85, for a total transaction of $454,200.00. Following the sale, the director directly owned 44,945 shares of the company’s stock, valued at $1,701,168.25. The trade was a 21.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 20,779 shares of company stock worth $786,233 in the last 90 days. 4.80% of the stock is currently owned by insiders.

Barrett Business Services Company Profile

Barrett Business Services, Inc (NASDAQ: BBSI) is a professional employer organization (PEO) headquartered in Northridge, California. Founded in 1971 by Barrett K. Levesque, the company provides comprehensive human resources outsourcing solutions to small and mid-sized businesses. Through its consultative model, Barrett Business Services helps clients streamline administrative processes, mitigate regulatory risk and focus on core operations.

The company’s core offerings include payroll administration, employee benefits management, workers’ compensation and risk management services.