9,207 Shares in Barrett Business Services, Inc. (NASDAQ:BBSI) Bought by HRT Financial LP

Posted by Defense World Staff on Jun 2nd, 2023

HRT Financial LP bought a new position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI – Get Rating) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,207 shares of the business services provider’s stock, valued at approximately $858,000. HRT Financial LP owned about 0.13% of Barrett Business Services at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Advisor Group Holdings Inc. increased its holdings in shares of Barrett Business Services by 39.9% in the first quarter. Advisor Group Holdings Inc. now owns 4,940 shares of the business services provider’s stock valued at $383,000 after purchasing an additional 1,410 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Barrett Business Services by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 55,173 shares of the business services provider’s stock valued at $4,275,000 after purchasing an additional 643 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Barrett Business Services by 4,307.1% in the first quarter. PNC Financial Services Group Inc. now owns 617 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 603 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Barrett Business Services in the first quarter valued at $529,000. Finally, MetLife Investment Management LLC increased its holdings in shares of Barrett Business Services by 57.5% in the first quarter. MetLife Investment Management LLC now owns 3,590 shares of the business services provider’s stock valued at $278,000 after purchasing an additional 1,311 shares during the last quarter. 86.40% of the stock is currently owned by institutional investors and hedge funds.

Barrett Business Services Stock Up 0.3 %

BBSI opened at $84.27 on Friday. Barrett Business Services, Inc. has a twelve month low of $65.93 and a twelve month high of $100.85. The company has a 50-day simple moving average of $84.85 and a 200 day simple moving average of $91.28. The stock has a market capitalization of $573.88 million, a price-to-earnings ratio of 12.60, a P/E/G ratio of 0.85 and a beta of 1.35.

Barrett Business Services (NASDAQ:BBSI – Get Rating) last posted its quarterly earnings data on Wednesday, March 1st. The business services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.01. Barrett Business Services had a net margin of 4.50% and a return on equity of 27.42%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Sell-side analysts anticipate that Barrett Business Services, Inc. will post 7.03 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, June 2nd. Investors of record on Friday, May 19th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, May 18th. This represents a $1.20 annualized dividend and a yield of 1.42%. Barrett Business Services’s dividend payout ratio is 17.94%.

Analyst Ratings Changes

Several equities analysts have commented on BBSI shares. Barrington Research upped their price objective on shares of Barrett Business Services from $102.00 to $104.00 in a report on Friday, March 3rd. StockNews.com started coverage on shares of Barrett Business Services in a research report on Thursday, May 18th. They issued a “buy” rating for the company.

Barrett Business Services Company Profile

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Barrett Business Services, Inc engages in the provision of business management solutions for small and mid-sized companies. It develops a 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 employers, and staffing and recruiting services.