Summit Global Investments Sells 9,370 Shares of Barrett Business Services, Inc. (NASDAQ:BBSI)

Summit Global Investments decreased its holdings in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 38.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,086 shares of the business services provider's stock after selling 9,370 shares during the period. Summit Global Investments owned about 0.06% of Barrett Business Services worth $655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of BBSI. Principal Financial Group Inc. grew its holdings in Barrett Business Services by 29.7% during the third quarter. Principal Financial Group Inc. now owns 17,300 shares of the business services provider's stock valued at $649,000 after purchasing an additional 3,960 shares during the period. Pathstone Holdings LLC grew its stake in shares of Barrett Business Services by 3.1% during the 3rd quarter. Pathstone Holdings LLC now owns 53,174 shares of the business services provider's stock valued at $1,995,000 after acquiring an additional 1,595 shares during the period. Truvestments Capital LLC purchased a new stake in Barrett Business Services in the 3rd quarter worth approximately $34,000. Quantbot Technologies LP purchased a new stake in Barrett Business Services in the 3rd quarter worth approximately $77,000. Finally, BNP Paribas Financial Markets lifted its holdings in Barrett Business Services by 5.8% during the third quarter. BNP Paribas Financial Markets now owns 12,310 shares of the business services provider's stock valued at $462,000 after purchasing an additional 679 shares in the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

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Barrett Business Services Stock Up 0.5 %

NASDAQ BBSI traded up $0.19 on Thursday, reaching $41.81. The company had a trading volume of 99,963 shares, compared to its average volume of 129,429. The stock has a market capitalization of $1.08 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 1.21 and a beta of 1.31. Barrett Business Services, Inc. has a 12 month low of $28.42 and a 12 month high of $44.97. The firm's 50 day moving average price is $41.66 and its 200 day moving average price is $40.61.

Barrett Business Services Dividend Announcement

The firm 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 $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, March 14th. Barrett Business Services's dividend payout ratio (DPR) is presently 16.08%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BBSI. StockNews.com upgraded shares of Barrett Business Services from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Barrington Research restated an "outperform" rating and issued a $45.00 price objective on shares of Barrett Business Services in a research report on Wednesday, March 12th.

Barrett Business Services 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.