Wellington Management Group LLP Sells 13,525 Shares of Barrett Business Services, Inc. (NASDAQ:BBSI)

Wellington Management Group LLP cut its stake in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 1.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 826,775 shares of the business services provider’s stock after selling 13,525 shares during the quarter. Wellington Management Group LLP’s holdings in Barrett Business Services were worth $31,012,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. CWM LLC raised its holdings in Barrett Business Services by 12,014.3% during the 2nd quarter. CWM LLC now owns 848 shares of the business services provider’s stock worth $28,000 after purchasing an additional 841 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Barrett Business Services in the 2nd quarter worth about $134,000. Assenagon Asset Management S.A. lifted its stake in shares of Barrett Business Services by 88.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 86,398 shares of the business services provider’s stock valued at $2,831,000 after purchasing an additional 40,519 shares during the period. Lakewood Asset Management LLC lifted its stake in Barrett Business Services by 310.4% in the second quarter. Lakewood Asset Management LLC now owns 9,764 shares of the business services provider’s stock valued at $320,000 after buying an additional 7,385 shares during the period. Finally, Willner & Heller LLC boosted its holdings in shares of Barrett Business Services by 300.7% during the 2nd quarter. Willner & Heller LLC now owns 38,333 shares of the business services provider’s stock worth $1,256,000 after buying an additional 28,767 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Barrett Business Services Trading Down 0.6 %

Shares of Barrett Business Services stock opened at $43.29 on Friday. The firm has a market capitalization of $1.12 billion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 1.46 and a beta of 1.42. The business’s fifty day simple moving average is $40.00 and its 200 day simple moving average is $36.52. Barrett Business Services, Inc. has a 12 month low of $27.06 and a 12 month high of $44.39.

Barrett Business Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Friday, November 22nd. Barrett Business Services’s dividend payout ratio is 16.93%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BBSI shares. Barrington Research reiterated an “outperform” rating and set a $45.00 target price on shares of Barrett Business Services in a research report on Wednesday. StockNews.com raised Barrett Business Services from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, Roth Mkm raised their price objective on shares of Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Insider Buying and Selling at Barrett Business Services

In other news, Director Thomas B. Cusick sold 3,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $43.41, for a total value of $130,230.00. Following the transaction, the director now owns 27,776 shares of the company’s stock, valued at approximately $1,205,756.16. This represents a 9.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas J. Carley sold 4,584 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.24, for a total value of $189,044.16. Following the completion of the transaction, the director now owns 91,628 shares in the company, valued at $3,778,738.72. This represents a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

About Barrett Business Services

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.