Barrett Business Services (NASDAQ:BBSI) Lowered to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Barrett Business Services (NASDAQ:BBSI) from a buy rating to a hold rating in a research report released on Thursday morning.

Several other research analysts also recently weighed in on BBSI. Roth Mkm boosted their price target on Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Barrington Research reiterated an “outperform” rating and issued a $45.00 target price on shares of Barrett Business Services in a research note on Wednesday, December 11th.

Barrett Business Services Price Performance

NASDAQ:BBSI opened at $40.29 on Thursday. The firm has a market cap of $1.05 billion, a PE ratio of 21.26, a P/E/G ratio of 1.21 and a beta of 1.41. The firm has a 50 day simple moving average of $42.64 and a 200-day simple moving average of $39.95. Barrett Business Services has a 1-year low of $28.42 and a 1-year high of $44.97.

Barrett Business Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.79%. Barrett Business Services’s payout ratio is currently 16.93%.

Insider Buying and Selling

In related news, Director Thomas B. Cusick sold 3,000 shares of Barrett Business Services 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Barrett Business Services

Several institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp bought a new stake in shares of Barrett Business Services in the 4th quarter worth about $913,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Barrett Business Services by 38.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,727 shares of the business services provider’s stock valued at $2,942,000 after buying an additional 18,900 shares during the last quarter. Two Sigma Advisers LP increased its holdings in Barrett Business Services by 4.5% in the fourth quarter. Two Sigma Advisers LP now owns 6,900 shares of the business services provider’s stock valued at $300,000 after buying an additional 300 shares during the last quarter. Two Sigma Investments LP acquired a new stake in Barrett Business Services during the fourth quarter valued at approximately $353,000. Finally, ProShare Advisors LLC bought a new position in Barrett Business Services during the 4th quarter worth approximately $313,000. 86.76% of the stock is owned by institutional investors and hedge funds.

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.