Barrett Business Services, Inc. (NASDAQ:BBSI) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its stake in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 272.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,631,644 shares of the business services provider’s stock after acquiring an additional 1,193,839 shares during the period. Thrivent Financial for Lutherans owned approximately 6.29% of Barrett Business Services worth $70,879,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in shares of Barrett Business Services during the third quarter valued at about $34,000. Westside Investment Management Inc. acquired a new stake in shares of Barrett Business Services during the third quarter valued at about $34,000. Huntington National Bank acquired a new stake in shares of Barrett Business Services during the third quarter valued at about $39,000. Quantbot Technologies LP acquired a new stake in shares of Barrett Business Services during the third quarter valued at about $77,000. Finally, Longboard Asset Management LP acquired a new stake in shares of Barrett Business Services during the fourth quarter valued at about $217,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Barrett Business Services Stock Performance

Shares of BBSI stock opened at $39.86 on Wednesday. The stock has a market capitalization of $1.03 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 1.21 and a beta of 1.31. The company has a 50 day moving average price of $41.77 and a 200 day moving average price of $40.40. Barrett Business Services, Inc. has a fifty-two week low of $28.42 and a fifty-two week high of $44.97.

Barrett Business Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.08 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.80%. Barrett Business Services’s dividend payout ratio is currently 16.08%.

Analysts Set New Price Targets

A number of brokerages have weighed in 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 report on Wednesday, March 12th.

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.