Y Intercept Hong Kong Ltd Increases Position in Barrett Business Services, Inc. $BBSI

Y Intercept Hong Kong Ltd lifted its position in Barrett Business Services, Inc. (NASDAQ:BBSI) by 312.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,777 shares of the business services provider’s stock after purchasing an additional 86,191 shares during the quarter. Y Intercept Hong Kong Ltd owned about 0.46% of Barrett Business Services worth $3,320,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BBSI. North Star Investment Management Corp. boosted its position in Barrett Business Services by 24.1% in the 1st quarter. North Star Investment Management Corp. now owns 123,350 shares of the business services provider’s stock worth $3,599,000 after purchasing an additional 23,919 shares in the last quarter. Aristides Capital LLC purchased a new stake in shares of Barrett Business Services during the fourth quarter worth approximately $203,000. EP Wealth Advisors LLC acquired a new stake in Barrett Business Services in the 4th quarter valued at about $708,000. NewEdge Advisors LLC lifted its position in Barrett Business Services by 479.5% during the fourth quarter. NewEdge Advisors LLC now owns 11,022 shares of the business services provider’s stock worth $399,000 after buying an additional 9,120 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Barrett Business Services during the fourth quarter worth $848,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Barrett Business Services Stock Up 1.6%

NASDAQ:BBSI traded up $0.60 on Tuesday, reaching $38.22. The stock had a trading volume of 23,200 shares, compared to its average volume of 242,446. The company has a market capitalization of $938.56 million, a P/E ratio of 24.82, a price-to-earnings-growth ratio of 1.26 and a beta of 0.95. The stock has a fifty day moving average price of $32.60 and a 200-day moving average price of $32.78. Barrett Business Services, Inc. has a 1-year low of $25.33 and a 1-year high of $49.65.

Barrett Business Services (NASDAQ:BBSI) last released its earnings results on Wednesday, May 6th. The business services provider reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. Barrett Business Services had a net margin of 3.24% and a return on equity of 22.89%. The firm had revenue of $307.00 million during the quarter, compared to analyst estimates of $306.68 million. During the same quarter in the previous year, the business earned ($0.04) EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Sell-side analysts predict that Barrett Business Services, Inc. will post 1.88 earnings per share for the current fiscal year.

Barrett Business Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, May 22nd. Barrett Business Services’s payout ratio is 20.78%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wall Street Zen raised Barrett Business Services from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Barrington Research restated an “outperform” rating and issued a $41.00 price target on shares of Barrett Business Services in a research report on Monday, April 27th. Weiss Ratings upgraded Barrett Business Services from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 8th. Finally, Zacks Research upgraded Barrett Business Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Barrett Business Services currently has an average rating of “Moderate Buy” and a consensus price target of $41.50.

About Barrett Business Services

Barrett Business Services, Inc (NASDAQ: BBSI) is a professional employer organization (PEO) headquartered in Northridge, California. Founded in 1971 by Barrett K. Levesque, the company provides comprehensive human resources outsourcing solutions to small and mid-sized businesses. Through its consultative model, Barrett Business Services helps clients streamline administrative processes, mitigate regulatory risk and focus on core operations.

The company’s core offerings include payroll administration, employee benefits management, workers’ compensation and risk management services.