StockNews.com Downgrades Barrett Business Services (NASDAQ:BBSI) to Hold

Barrett Business Services (NASDAQ:BBSI) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

Other research analysts have also recently issued reports about the company. Barrington Research raised their target price on Barrett Business Services from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Roth Mkm raised their price target on shares of Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Barrett Business Services Stock Down 0.2 %

Shares of BBSI opened at $42.79 on Monday. The stock’s 50-day moving average price is $37.18 and its 200 day moving average price is $34.76. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 22.64, a P/E/G ratio of 1.39 and a beta of 1.39. Barrett Business Services has a 12-month low of $26.06 and a 12-month high of $43.18.

Insider Buying and Selling at Barrett Business Services

In other news, CEO Gary Kramer sold 34,288 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $35.05, for a total transaction of $1,201,794.40. Following the sale, the chief executive officer now owns 242,543 shares in the company, valued at approximately $8,501,132.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Barrett Business Services

Hedge funds have recently added to or reduced their stakes in the company. Mawer Investment Management Ltd. raised its stake in shares of Barrett Business Services by 236.4% during the third quarter. Mawer Investment Management Ltd. now owns 1,834,452 shares of the business services provider’s stock worth $68,810,000 after buying an additional 1,289,147 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Barrett Business Services by 281.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 867,708 shares of the business services provider’s stock valued at $28,435,000 after purchasing an additional 640,508 shares during the period. Renaissance Technologies LLC boosted its position in shares of Barrett Business Services by 299.4% in the 2nd quarter. Renaissance Technologies LLC now owns 798,500 shares of the business services provider’s stock worth $26,167,000 after purchasing an additional 598,567 shares during the last quarter. Thrivent Financial for Lutherans acquired a new stake in shares of Barrett Business Services during the third quarter worth $16,422,000. Finally, American Century Companies Inc. increased its holdings in Barrett Business Services by 155.9% in the second quarter. American Century Companies Inc. now owns 535,896 shares of the business services provider’s stock valued at $17,561,000 after purchasing an additional 326,502 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

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.