Barrett Business Services (NASDAQ:BBSI) Downgraded to “Hold” Rating by StockNews.com

Barrett Business Services (NASDAQ:BBSI) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Other analysts also recently issued research reports about the stock. Barrington Research upped their price target on shares of Barrett Business Services from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday. Roth Mkm upped their price target on shares of Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday.

Barrett Business Services Stock Performance

BBSI traded up $1.51 on Monday, reaching $42.88. The company had a trading volume of 179,611 shares, compared to its average volume of 136,404. The stock has a market cap of $1.12 billion, a P/E ratio of 22.63, a P/E/G ratio of 1.39 and a beta of 1.39. Barrett Business Services has a fifty-two week low of $26.06 and a fifty-two week high of $43.18. The company’s fifty day moving average is $37.04 and its 200 day moving average is $34.68.

Insider Activity at Barrett Business Services

In related news, CEO Gary Kramer sold 34,288 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $35.05, for a total value of $1,201,794.40. Following the completion of the transaction, the chief executive officer now owns 242,543 shares of the company’s stock, valued at $8,501,132.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Barrett Business Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in BBSI. CWM LLC increased its position in Barrett Business Services by 12,014.3% in the 2nd quarter. CWM LLC now owns 848 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 841 shares during the period. Amalgamated Bank raised its stake in Barrett Business Services by 300.0% during the second quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock worth $31,000 after buying an additional 702 shares during the last quarter. Huntington National Bank bought a new position in Barrett Business Services during the third quarter worth $39,000. USA Financial Formulas bought a new position in Barrett Business Services during the third quarter worth $60,000. Finally, Virtu Financial LLC bought a new position in Barrett Business Services during the first quarter worth $227,000. 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.