Summit Global Investments Has $655,000 Stock Holdings in Barrett Business Services, Inc. (NASDAQ:BBSI)

Summit Global Investments trimmed its holdings in Barrett Business Services, Inc. (NASDAQ:BBSI) by 38.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,086 shares of the business services provider’s stock after selling 9,370 shares during the period. Summit Global Investments owned 0.06% of Barrett Business Services worth $655,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Truvestments Capital LLC bought a new stake in Barrett Business Services in the third quarter worth $34,000. Westside Investment Management Inc. bought a new stake in shares of Barrett Business Services during the 3rd quarter worth about $34,000. Quantbot Technologies LP acquired a new position in shares of Barrett Business Services during the 3rd quarter valued at about $77,000. Longboard Asset Management LP bought a new position in shares of Barrett Business Services in the 4th quarter valued at approximately $217,000. Finally, Continental Investors Services Inc. acquired a new stake in Barrett Business Services in the 3rd quarter worth approximately $216,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Barrett Business Services Stock Performance

Shares of BBSI stock opened at $40.82 on Monday. Barrett Business Services, Inc. has a 52 week low of $28.42 and a 52 week high of $44.97. The company’s 50 day moving average price is $41.72 and its two-hundred day moving average price is $40.51. The company has a market capitalization of $1.05 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 1.21 and a beta of 1.31.

Barrett Business Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Friday, March 14th. Barrett Business Services’s payout ratio is 16.08%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BBSI. Barrington Research reiterated an “outperform” rating and issued a $45.00 target price on shares of Barrett Business Services in a research note on Wednesday, March 12th. StockNews.com upgraded Barrett Business Services from a “hold” rating to a “buy” rating in a research note on Friday, March 7th.

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.