Barrett Business Services (BBSI) Upgraded by BidaskClub to “Hold”

Barrett Business Services (NASDAQ:BBSI) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

Several other analysts have also recently commented on BBSI. Zacks Investment Research cut shares of Barrett Business Services from a “buy” rating to a “hold” rating in a research note on Monday, January 14th. ValuEngine cut shares of Barrett Business Services from a “hold” rating to a “sell” rating in a research note on Saturday, February 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $88.33.

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Shares of NASDAQ BBSI opened at $70.79 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.04. Barrett Business Services has a 52 week low of $53.10 and a 52 week high of $98.76. The stock has a market capitalization of $498.74 million, a P/E ratio of 21.26 and a beta of 0.71.

In related news, COO Gregory R. Vaughn sold 7,488 shares of the firm’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $71.33, for a total value of $534,119.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James B. Hicks sold 1,055 shares of the firm’s stock in a transaction dated Thursday, January 3rd. The shares were sold at an average price of $57.00, for a total transaction of $60,135.00. Following the completion of the sale, the director now owns 15,351 shares of the company’s stock, valued at approximately $875,007. The disclosure for this sale can be found here. Insiders sold 16,778 shares of company stock valued at $1,073,227 in the last quarter. Company insiders own 6.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc increased its holdings in Barrett Business Services by 29.1% during the 4th quarter. Legal & General Group Plc now owns 1,349 shares of the business services provider’s stock valued at $77,000 after acquiring an additional 304 shares in the last quarter. SG Americas Securities LLC purchased a new position in Barrett Business Services during the 4th quarter valued at about $111,000. Metropolitan Life Insurance Co. NY increased its holdings in Barrett Business Services by 393.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 2,321 shares of the business services provider’s stock valued at $133,000 after acquiring an additional 1,851 shares in the last quarter. Citigroup Inc. increased its holdings in Barrett Business Services by 13.4% during the 4th quarter. Citigroup Inc. now owns 2,593 shares of the business services provider’s stock valued at $148,000 after acquiring an additional 307 shares in the last quarter. Finally, Great Lakes Advisors LLC purchased a new position in Barrett Business Services during the 3rd quarter valued at about $211,000. Hedge funds and other institutional investors own 80.31% of the company’s stock.

About Barrett Business Services

Barrett Business Services, Inc provides business management solutions for small and medium-sized companies in the United States. The company has 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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