Mackenzie Financial Corp Has $406,000 Stock Position in Barrett Business Services, Inc. (NASDAQ:BBSI)

Mackenzie Financial Corp boosted its stake in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 212.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,387 shares of the business services provider’s stock after buying an additional 8,426 shares during the period. Mackenzie Financial Corp’s holdings in Barrett Business Services were worth $406,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. CWM LLC increased its position 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 worth $28,000 after acquiring an additional 841 shares in the last quarter. Amalgamated Bank grew its position in Barrett Business Services by 300.0% during the 2nd quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock worth $31,000 after purchasing an additional 702 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Barrett Business Services by 415.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,906 shares of the business services provider’s stock valued at $95,000 after purchasing an additional 2,342 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Barrett Business Services by 300.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 2,460 shares in the last quarter. Finally, Perkins Coie Trust Co acquired a new stake in shares of Barrett Business Services in the second quarter worth $118,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Barrett Business Services Trading Up 1.3 %

NASDAQ BBSI opened at $36.89 on Friday. The company has a market capitalization of $965.30 million, a PE ratio of 20.27, a price-to-earnings-growth ratio of 1.23 and a beta of 1.38. Barrett Business Services, Inc. has a 1-year low of $21.59 and a 1-year high of $37.81. The firm’s fifty day simple moving average is $35.94 and its 200-day simple moving average is $33.42.

Barrett Business Services (NASDAQ:BBSI) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $279.60 million during the quarter, compared to the consensus estimate of $273.13 million. Barrett Business Services had a return on equity of 25.69% and a net margin of 4.50%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the business earned $0.62 EPS. As a group, analysts predict that Barrett Business Services, Inc. will post 1.99 EPS for the current year.

Barrett Business Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.08 dividend. The ex-dividend date was Friday, August 16th. This is a boost from Barrett Business Services’s previous quarterly dividend of $0.08. This represents a $0.32 dividend on an annualized basis and a yield of 0.87%. Barrett Business Services’s payout ratio is 17.58%.

Insiders Place Their Bets

In related news, CEO Gary Kramer sold 34,288 shares of Barrett Business Services stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $35.05, for a total value of $1,201,794.40. Following the completion of the sale, the chief executive officer now owns 242,543 shares of the company’s stock, valued at approximately $8,501,132.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 35,133 shares of company stock valued at $1,231,357 over the last ninety days. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

BBSI has been the topic of several recent analyst reports. Barrington Research upped their price target on Barrett Business Services from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Roth Mkm lifted their target price on Barrett Business Services from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 1st.

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.