Allspring Global Investments Holdings LLC, a prominent institutional investor, recently increased its stake in Barrett Business Services, Inc. (NASDAQ:BBSI), signaling its confidence in the business services provider. The company disclosed this development in their latest report to the Securities and Exchange Commission (SEC). Allspring Global Investments added an impressive 10,630 shares to its existing holdings of Barrett Business Services, bringing its total ownership to 57,045 shares. This move represents a notable 22.9% increase in their stake during the first quarter of the current fiscal year.
With this latest transaction, Allspring Global Investments has established a strong foothold in Barrett Business Services. Their holdings are estimated to be worth an impressive $5,056,000 at the end of the most recent reporting period. This sizeable investment demonstrates the institutional investor’s belief in the potential growth and profitability of Barrett Business Services.
Barrett Business Services is a renowned business management solutions provider catering primarily to small and mid-sized companies across the United States. The firm has developed an innovative management platform that effectively integrates key aspects derived from both the management consulting industry as well as tools sourced from the human resource outsourcing sector. This unique approach allows clients to benefit from a comprehensive range of services aimed at enhancing operational efficiency and overall success.
In terms of financial performance, shares of BBSI opened at $87.52 on Wednesday. Analyzing previous trends, it is observed that the stock has maintained a relatively stable price level over time with fluctuations being well within an acceptable range for investors. At present, BBSI’s stock is supported by a 50-day moving average price of $84.96 and a 200-day moving average price of $89.94.
From a market perspective, Barrett Business Services enjoys a solid market capitalization standing at approximately $596.01 million. Additionally, the company boasts attractive financial metrics such as a price-to-earnings (P/E) ratio of 13.08 and a price-to-earnings-growth (PEG) ratio of 0.89, both of which indicate favorable valuation compared to its peers. Moreover, with a beta of 1.34, Barrett Business Services demonstrates moderate volatility in relation to market movements.
Over the past year, the company’s stock has experienced both highs and lows. Its 52-week low is recorded at $71.14, while the 52-week high reached an impressive $100.85. Although there has been some fluctuation in share prices, investors remain optimistic about the future growth prospects of Barrett Business Services.
In conclusion, Allspring Global Investments Holdings LLC’s significant increase in its stake in Barrett Business Services highlights their confidence in the company’s potential for success. Their substantial investment aligns with Barrett Business Services’ strong position as a provider of comprehensive business management solutions for small and mid-sized companies across the United States. As the company continues to leverage its integrated management platform and deliver value-added services to clients, shareholders can expect potential returns on their investments.
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Institutional Investors and Hedge Funds Show Strong Interest in Barrett Business Services
Institutional investors and hedge funds are making significant moves in the stock market, with Barrett Business Services being one of the companies benefiting from their actions. HRT Financial LP, Continental Investors Services Inc., Versor Investments LP, EagleClaw Capital Management LLC, and Globeflex Capital L P have all acquired new positions in shares of Barrett Business Services.
During the fourth quarter of last year, HRT Financial LP acquired a new position in shares of Barrett Business Services worth approximately $858,000. Similarly, Continental Investors Services Inc. acquired a new position during the third quarter worth about $7,361,000. Versor Investments LP followed suit during the fourth quarter by acquiring a new position valued at around $289,000. EagleClaw Capital Management LLC expanded its position in the business services provider’s stock by 113.8% during the same period. With an additional purchase of 4,550 shares in the last quarter alone, they now own 8,550 shares worth $590,000.
Furthermore, Globeflex Capital L P made a significant investment decision by acquiring a new position in shares of Barrett Business Services during the fourth quarter valued at about $131,000. As it stands now, 83.30% of Barrett Business Service’s stocks are owned by institutional investors and hedge funds.
This recent surge in interest from institutional investors and hedge funds can be attributed to several factors. One noteworthy development is that StockNews.com has begun coverage on Barrett Business Services and has assigned it a “buy” rating based on its research report published on Thursday, May 18th.
Barrett Business Services primarily operates as a provider of business management solutions for small and mid-sized companies within the United States. The company has developed a management platform that combines knowledge-based approaches derived from the management consulting industry with tools sourced from the human resource outsourcing industry.
On Wednesday, May 3rd this year, Barrett Business Services released its quarterly earnings report. The business services provider reported earnings per share (EPS) of $0.12, surpassing analysts’ consensus estimates that predicted a loss of ($0.08) by $0.20. Additionally, the company generated revenue of $1.79 billion during the quarter, although slightly lower than the consensus estimate of $1.82 billion.
It is worth noting that Barrett Business Services boasts an impressive return on equity of 27.42% and maintains a net margin of 4.50%. Equities analysts are optimistic about the company’s future performance and anticipate that it will post an EPS of 7.03 for the current fiscal year.
In a move to reward its investors, Barrett Business Services recently declared a quarterly dividend which was paid on Friday, June 2nd to shareholders recorded as of Friday, May 19th. The dividend payout offered was $0.30, translating into an annualized yield of 1.37%.
To conclude, Barrett Business Services has been attracting attention from institutional investors and hedge funds due to its positive performance in recent months. With notable acquisitions by major players in the stock market and StockNews.com’s endorsement, it is clear that these investors see great potential in Barrett Business Services and believe that it is worth betting on for future success and growth within the business management solutions industry.