Concentrum Wealth Management lowered its stake in Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 87.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,900 shares of the business services provider's stock after selling 47,724 shares during the quarter. Concentrum Wealth Management's holdings in Barrett Business Services were worth $300,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Westside Investment Management Inc. bought a new stake in Barrett Business Services in the third quarter valued at approximately $34,000. Prudent Man Investment Management Inc. bought a new stake in shares of Barrett Business Services in the 4th quarter valued at $35,000. KLP Kapitalforvaltning AS acquired a new stake in Barrett Business Services during the 4th quarter worth $209,000. Continental Investors Services Inc. bought a new position in Barrett Business Services during the third quarter worth about $216,000. Finally, Longboard Asset Management LP acquired a new position in Barrett Business Services in the fourth quarter valued at about $217,000. 86.76% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. StockNews.com raised shares of Barrett Business Services from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Barrington Research reaffirmed an "outperform" rating and issued a $45.00 price objective on shares of Barrett Business Services in a research report on Wednesday, March 12th.
Check Out Our Latest Analysis on BBSI
Barrett Business Services Stock Performance
Shares of NASDAQ BBSI traded up $0.45 during trading hours on Friday, reaching $39.84. 178,763 shares of the stock were exchanged, compared to its average volume of 136,987. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 21.02, a P/E/G ratio of 1.21 and a beta of 1.09. The stock's fifty day simple moving average is $40.67 and its 200 day simple moving average is $40.92. Barrett Business Services, Inc. has a 52 week low of $28.42 and a 52 week high of $44.97.
Barrett Business Services Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.32 annualized dividend and a yield of 0.80%. Barrett Business Services's dividend payout ratio is presently 16.08%.
Barrett Business Services Profile
(
Free Report)
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.
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