Bank of New York Mellon Corp raised its position in shares of Barrett Business Services Inc. (NASDAQ:BBSI) by 0.5% during the second quarter, Holdings Channel reports. The fund owned 46,981 shares of the company’s stock after buying an additional 236 shares during the period. Bank of New York Mellon Corp owned approximately 0.65% of Barrett Business Services worth $1,941,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp boosted its stake in Barrett Business Services by 2.8% in the first quarter. State Street Corp now owns 134,876 shares of the company’s stock worth $3,882,000 after buying an additional 3,677 shares during the period. Kennedy Capital Management Inc. purchased a new stake in Barrett Business Services during the first quarter worth approximately $4,217,000. Palo Capital Inc. purchased a new stake in Barrett Business Services during the second quarter worth approximately $568,000. Foundry Partners LLC boosted its stake in Barrett Business Services by 0.3% in the second quarter. Foundry Partners LLC now owns 65,295 shares of the company’s stock worth $2,698,000 after buying an additional 175 shares during the period. Finally, A.R.T. Advisors LLC boosted its stake in Barrett Business Services by 29.5% in the first quarter. A.R.T. Advisors LLC now owns 35,206 shares of the company’s stock worth $1,012,000 after buying an additional 8,010 shares during the period. 67.44% of the stock is currently owned by hedge funds and other institutional investors.
Barrett Business Services Inc. (NASDAQ:BBSI) traded down 1.86% during mid-day trading on Friday, reaching $48.03. The company had a trading volume of 22,089 shares. The stock’s 50-day moving average price is $47.65 and its 200 day moving average price is $38.74. The firm has a market capitalization of $347.88 million, a PE ratio of 15.38 and a beta of 0.91. Barrett Business Services Inc. has a 52 week low of $22.55 and a 52 week high of $53.00.
Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $1.30 earnings per share (EPS) for the quarter. Barrett Business Services had a return on equity of 51.71% and a net margin of 2.99%. The business had revenue of $203.40 million for the quarter, compared to the consensus estimate of $182 million. On average, equities research analysts predict that Barrett Business Services Inc. will post $3.43 EPS for the current year.
Separately, TheStreet cut Barrett Business Services from a “buy” rating to a “hold” rating in a research report on Thursday, June 23rd.
Barrett Business Services Company Profile
Barrett Business Services, Inc (BBSI) is a provider of business management solutions for small and mid-sized companies. The Company has developed a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry.
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