SummerHaven Investment Management LLC Acquires 23,495 Shares of Barrett Business Services, Inc. $BBSI

SummerHaven Investment Management LLC purchased a new position in Barrett Business Services, Inc. (NASDAQ:BBSI) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,495 shares of the business services provider’s stock, valued at approximately $711,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in Barrett Business Services by 130.9% during the 3rd quarter. GAMMA Investing LLC now owns 5,094 shares of the business services provider’s stock valued at $154,000 after buying an additional 2,888 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Barrett Business Services in the 2nd quarter worth about $26,000. Waverly Advisors LLC grew its stake in Barrett Business Services by 0.6% in the 2nd quarter. Waverly Advisors LLC now owns 60,543 shares of the business services provider’s stock worth $2,150,000 after acquiring an additional 350 shares in the last quarter. Corient Private Wealth LP grew its stake in Barrett Business Services by 5.0% in the 2nd quarter. Corient Private Wealth LP now owns 36,377 shares of the business services provider’s stock worth $1,292,000 after acquiring an additional 1,741 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC grew its stake in Barrett Business Services by 15.2% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 45,857 shares of the business services provider’s stock worth $1,629,000 after acquiring an additional 6,062 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on BBSI shares. Zacks Research raised shares of Barrett Business Services from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Roth Capital lowered Barrett Business Services from a “buy” rating to a “neutral” rating and lowered their price target for the company from $42.00 to $38.00 in a report on Thursday, August 6th. Barrington Research set a $44.00 price objective on Barrett Business Services in a research note on Thursday, August 6th. Citigroup reissued an “outperform” rating on shares of Barrett Business Services in a research note on Thursday, August 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Barrett Business Services in a report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.00.

Barrett Business Services Trading Up 0.6%

Shares of Barrett Business Services stock opened at $32.55 on Friday. The stock’s fifty day moving average price is $32.59 and its 200-day moving average price is $33.24. The firm has a market cap of $789.01 million, a P/E ratio of 23.93, a P/E/G ratio of 1.21 and a beta of 0.94. Barrett Business Services, Inc. has a 12 month low of $25.33 and a 12 month high of $43.04.

Barrett Business Services (NASDAQ:BBSI) last released its quarterly earnings data on Wednesday, August 5th. The business services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.04). Barrett Business Services had a return on equity of 20.95% and a net margin of 2.77%. The business had revenue of $319.27 million during the quarter, compared to analysts’ expectations of $321.55 million. Analysts forecast that Barrett Business Services, Inc. will post 1.68 earnings per share for the current year.

Barrett Business Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, August 21st were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $0.32 dividend on an annualized basis and a yield of 1.0%. Barrett Business Services’s dividend payout ratio (DPR) is 23.53%.

Barrett Business Services Profile

Barrett Business Services, Inc (NASDAQ:BBSI) is a provider of business management and workforce solutions for small and midsize businesses in the United States. The company combines professional employer organization (PEO) services with staffing and management consulting to help clients manage employment-related responsibilities and day-to-day operations.

Its services include payroll administration, human resources support, employee benefits administration, risk management, workers’ compensation management, and regulatory compliance assistance.