Thrivent Financial for Lutherans Invests $16.42 Million in Barrett Business Services, Inc. (NASDAQ:BBSI)

Thrivent Financial for Lutherans purchased a new stake in Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 437,805 shares of the business services provider's stock, valued at approximately $16,422,000. Thrivent Financial for Lutherans owned approximately 1.67% of Barrett Business Services as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC increased its stake in shares of Barrett Business Services by 12,014.3% in the second quarter. CWM LLC now owns 848 shares of the business services provider's stock valued at $28,000 after buying an additional 841 shares during the period. Amalgamated Bank raised its position in Barrett Business Services by 300.0% in the 2nd quarter. Amalgamated Bank now owns 936 shares of the business services provider's stock valued at $31,000 after buying an additional 702 shares during the last quarter. Huntington National Bank purchased a new stake in Barrett Business Services during the third quarter worth about $39,000. USA Financial Formulas purchased a new stake in shares of Barrett Business Services during the 3rd quarter worth approximately $60,000. Finally, Nisa Investment Advisors LLC grew its stake in Barrett Business Services by 415.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,906 shares of the business services provider's stock valued at $95,000 after buying an additional 2,342 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Barrett Business Services Trading Down 0.3 %

NASDAQ BBSI traded down $0.12 during trading hours on Thursday, reaching $42.23. The company had a trading volume of 242,621 shares, compared to its average volume of 137,438. The stock has a market capitalization of $1.10 billion, a P/E ratio of 22.31, a price-to-earnings-growth ratio of 1.39 and a beta of 1.39. Barrett Business Services, Inc. has a 1-year low of $26.60 and a 1-year high of $43.29. The stock has a 50-day moving average of $37.97 and a 200 day moving average of $35.21.

Barrett Business Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Friday, November 22nd. Barrett Business Services's dividend payout ratio (DPR) is presently 16.89%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Barrington Research boosted their price target on shares of Barrett Business Services from $41.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. StockNews.com raised shares of Barrett Business Services from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, Roth Mkm raised their target price on shares of Barrett Business Services from $43.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, November 7th.

Insider Activity

In other Barrett Business Services news, Director Joseph Stephen Clabby acquired 1,635 shares of Barrett Business Services stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average price of $43.01 per share, with a total value of $70,321.35. Following the purchase, the director now owns 11,327 shares in the company, valued at approximately $487,174.27. This trade represents a 16.87 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas J. Carley sold 4,584 shares of the business's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.24, for a total transaction of $189,044.16. Following the transaction, the director now owns 91,628 shares in the company, valued at approximately $3,778,738.72. The trade was a 4.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.70% of the company's stock.

Barrett Business Services Company Profile

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.