River Road Asset Management LLC boosted its holdings in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 9.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 143,562 shares of the business services provider’s stock after buying an additional 11,860 shares during the quarter. River Road Asset Management LLC’s holdings in Barrett Business Services were worth $10,424,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Truvestments Capital LLC increased its stake in Barrett Business Services by 150.6% during the first quarter. Truvestments Capital LLC now owns 1,343 shares of the business services provider’s stock worth $92,000 after acquiring an additional 807 shares during the last quarter. UBS Group AG grew its stake in shares of Barrett Business Services by 101.5% in the first quarter. UBS Group AG now owns 3,242 shares of the business services provider’s stock valued at $223,000 after buying an additional 1,633 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Barrett Business Services in the first quarter valued at $232,000. BNP Paribas Arbitrage SA grew its stake in shares of Barrett Business Services by 76.3% in the first quarter. BNP Paribas Arbitrage SA now owns 3,415 shares of the business services provider’s stock valued at $235,000 after buying an additional 1,478 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Barrett Business Services by 167.8% in the first quarter. Barclays PLC now owns 6,552 shares of the business services provider’s stock valued at $452,000 after buying an additional 4,105 shares in the last quarter. 80.64% of the stock is owned by institutional investors.
A number of equities research analysts have recently weighed in on BBSI shares. Zacks Investment Research raised Barrett Business Services from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Wednesday, September 8th. Roth Capital lifted their price objective on Barrett Business Services from $88.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, August 5th. They noted that the move was a valuation call. Finally, TheStreet raised Barrett Business Services from a “c+” rating to a “b-” rating in a research note on Monday, August 23rd.
Barrett Business Services (NASDAQ:BBSI) last released its earnings results on Tuesday, August 3rd. The business services provider reported $2.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.74. Barrett Business Services had a return on equity of 19.60% and a net margin of 4.19%. Equities analysts forecast that Barrett Business Services, Inc. will post 4.63 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 3rd. Investors of record on Friday, August 20th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.62%. Barrett Business Services’s dividend payout ratio (DPR) is presently 27.33%.
In related news, Director Anthony Meeker sold 2,000 shares of Barrett Business Services stock in a transaction on Monday, August 30th. The stock was sold at an average price of $76.17, for a total value of $152,340.00. Following the completion of the transaction, the director now directly owns 16,420 shares in the company, valued at $1,250,711.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.40% of the company’s stock.
Barrett Business Services Company Profile
Barrett Business Services, Inc engages in the provision of business management solutions for small and mid-sized companies. It develops management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. It focuses on professional employer, and staffing and recruiting services.
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