Barrett Business Services Stock Set to Split on Monday, June 24th (NASDAQ:BBSI)

Barrett Business Services, Inc. (NASDAQ:BBSI)’s stock is set to split on Monday, June 24th. The 4-1 split was announced on Monday, June 24th. The newly minted shares will be payable to shareholders after the market closes on Monday, June 24th.

Barrett Business Services Trading Down 0.4 %

Shares of Barrett Business Services stock opened at $131.78 on Friday. The company’s fifty day simple moving average is $125.40 and its two-hundred day simple moving average is $119.24. The company has a market cap of $862.10 million, a P/E ratio of 18.08, a PEG ratio of 1.19 and a beta of 1.41. Barrett Business Services has a 12-month low of $82.44 and a 12-month high of $137.37.

Barrett Business Services (NASDAQ:BBSI) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.29. The business had revenue of $265.78 million for the quarter, compared to the consensus estimate of $1.88 billion. Barrett Business Services had a net margin of 4.60% and a return on equity of 26.58%. During the same period in the previous year, the firm earned $0.12 EPS. Analysts predict that Barrett Business Services will post 7.95 EPS for the current fiscal year.

Barrett Business Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Thursday, May 16th. Barrett Business Services’s payout ratio is currently 16.46%.

Analyst Ratings Changes

A number of research analysts have issued reports on BBSI shares. Barrington Research reissued an “outperform” rating and set a $141.00 price objective on shares of Barrett Business Services in a research report on Tuesday, May 28th. StockNews.com cut shares of Barrett Business Services from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 29th. Finally, Sidoti cut shares of Barrett Business Services from a “buy” rating to a “neutral” rating and set a $140.00 target price on the stock. in a report on Wednesday, June 5th.

Insider Buying and Selling

In related news, Director Thomas B. Cusick sold 600 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $132.05, for a total value of $79,230.00. Following the transaction, the director now owns 6,548 shares in the company, valued at approximately $864,663.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Barrett Business Services

A number of hedge funds have recently bought and sold shares of BBSI. Barclays PLC raised its position in Barrett Business Services by 34.0% in the 3rd quarter. Barclays PLC now owns 6,362 shares of the business services provider’s stock worth $573,000 after buying an additional 1,614 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Barrett Business Services by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 83,693 shares of the business services provider’s stock worth $7,552,000 after buying an additional 1,496 shares during the last quarter. FMR LLC raised its position in Barrett Business Services by 4.3% in the 3rd quarter. FMR LLC now owns 315,370 shares of the business services provider’s stock worth $28,459,000 after buying an additional 12,997 shares during the last quarter. Ramirez Asset Management Inc. purchased a new position in Barrett Business Services in the 3rd quarter worth about $45,000. Finally, Wellington Management Group LLP increased its position in shares of Barrett Business Services by 1.7% during the 3rd quarter. Wellington Management Group LLP now owns 175,006 shares of the business services provider’s stock valued at $15,793,000 after purchasing an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Barrett Business Services Company 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.