SG Americas Securities LLC Grows Holdings in Barrett Business Services, Inc. $BBSI

SG Americas Securities LLC boosted its holdings in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 141.7% in the second quarter, HoldingsChannel reports. The fund owned 29,201 shares of the business services provider’s stock after acquiring an additional 17,117 shares during the period. SG Americas Securities LLC’s holdings in Barrett Business Services were worth $1,217,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Quantbot Technologies LP bought a new position in shares of Barrett Business Services during the first quarter valued at approximately $75,000. PNC Financial Services Group Inc. boosted its position in shares of Barrett Business Services by 26.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,309 shares of the business services provider’s stock worth $95,000 after purchasing an additional 482 shares in the last quarter. Virtus Advisers LLC purchased a new stake in shares of Barrett Business Services in the 1st quarter worth approximately $163,000. US Bancorp DE increased its position in Barrett Business Services by 3,939.3% during the 1st quarter. US Bancorp DE now owns 4,524 shares of the business services provider’s stock valued at $186,000 after buying an additional 4,412 shares in the last quarter. Finally, Corton Capital Inc. purchased a new position in Barrett Business Services during the second quarter valued at $212,000. Institutional investors own 86.76% of the company’s stock.

Barrett Business Services Price Performance

Shares of NASDAQ:BBSI opened at $34.86 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $893.29 million, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 1.31 and a beta of 1.00. The business has a 50-day simple moving average of $41.31 and a two-hundred day simple moving average of $43.09. Barrett Business Services, Inc. has a fifty-two week low of $33.01 and a fifty-two week high of $49.65.

Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings results on Wednesday, November 5th. The business services provider reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.02). The company had revenue of $318.95 million during the quarter, compared to the consensus estimate of $319.27 million. Barrett Business Services had a return on equity of 24.59% and a net margin of 4.49%.The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 earnings per share. On average, analysts expect that Barrett Business Services, Inc. will post 2 earnings per share for the current year.

Barrett Business Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 21st will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, November 21st. This represents a $0.32 dividend on an annualized basis and a yield of 0.9%. Barrett Business Services’s payout ratio is currently 15.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Barrett Business Services in a research note on Monday. Wall Street Zen cut shares of Barrett Business Services from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Barrington Research set a $46.00 price objective on shares of Barrett Business Services and gave the company an “outperform” rating in a research report on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Barrett Business Services currently has a consensus rating of “Buy” and an average price target of $46.00.

Insider Transactions at Barrett Business Services

In other Barrett Business Services news, Director Anthony Meeker sold 3,064 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $46.78, for a total value of $143,333.92. Following the transaction, the director owned 54,601 shares of the company’s stock, valued at approximately $2,554,234.78. This represents a 5.31% decrease 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 Joseph Stephen Clabby purchased 1,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were purchased at an average price of $34.83 per share, with a total value of $34,830.00. Following the completion of the purchase, the director owned 15,391 shares in the company, valued at approximately $536,068.53. This trade represents a 6.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 94,728 shares of company stock valued at $4,548,811 over the last 90 days. 4.10% of the stock is owned by corporate insiders.

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.