Point72 Asia Singapore Pte. Ltd. Acquires 6,112 Shares of Barrett Business Services, Inc. (NASDAQ:BBSI)

Point72 Asia Singapore Pte. Ltd. increased its stake in Barrett Business Services, Inc. (NASDAQ:BBSI) by 919.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,777 shares of the business services provider’s stock after acquiring an additional 6,112 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Barrett Business Services were worth $222,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in Barrett Business Services by 281.9% during the second quarter. Dimensional Fund Advisors LP now owns 867,708 shares of the business services provider’s stock valued at $28,435,000 after acquiring an additional 640,508 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Barrett Business Services by 299.4% during the 2nd quarter. Renaissance Technologies LLC now owns 798,500 shares of the business services provider’s stock valued at $26,167,000 after purchasing an additional 598,567 shares during the last quarter. Mawer Investment Management Ltd. purchased a new stake in Barrett Business Services in the 2nd quarter worth about $17,870,000. American Century Companies Inc. raised its position in Barrett Business Services by 155.9% in the 2nd quarter. American Century Companies Inc. now owns 535,896 shares of the business services provider’s stock worth $17,561,000 after purchasing an additional 326,502 shares during the period. Finally, Pacific Ridge Capital Partners LLC lifted its stake in Barrett Business Services by 259.8% in the second quarter. Pacific Ridge Capital Partners LLC now owns 378,786 shares of the business services provider’s stock worth $12,413,000 after purchasing an additional 273,516 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

Barrett Business Services Price Performance

Shares of BBSI stock opened at $36.58 on Thursday. The company has a market capitalization of $957.19 million, a P/E ratio of 20.10, a P/E/G ratio of 1.23 and a beta of 1.38. The company’s 50-day simple moving average is $35.87 and its two-hundred day simple moving average is $33.30. Barrett Business Services, Inc. has a one year low of $21.59 and a one year high of $37.81.

Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. The company had revenue of $279.60 million for the quarter, compared to analysts’ expectations of $273.13 million. Barrett Business Services had a return on equity of 25.69% and a net margin of 4.50%. Barrett Business Services’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.62 earnings per share. On average, research analysts expect that Barrett Business Services, Inc. will post 1.99 EPS for the current fiscal year.

Barrett Business Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.87%. This is a positive change from Barrett Business Services’s previous quarterly dividend of $0.08. Barrett Business Services’s dividend payout ratio (DPR) is currently 17.58%.

Insider Activity at Barrett Business Services

In other Barrett Business Services news, CEO Gary Kramer sold 34,288 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $35.05, for a total transaction of $1,201,794.40. Following the transaction, the chief executive officer now directly owns 242,543 shares in the company, valued at approximately $8,501,132.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 35,133 shares of company stock worth $1,231,357 over the last three months. 3.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BBSI has been the topic of a number of analyst reports. Barrington Research upped their target price on Barrett Business Services from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Sidoti downgraded Barrett Business Services from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, June 5th. Finally, Roth Mkm lifted their target price on Barrett Business Services from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st.

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.