Foundry Partners LLC, a prominent institutional investor, has made adjustments to its holdings in Barrett Business Services, Inc. (NASDAQ:BBSI) during the second quarter of this year. According to their recent 13F filing with the Securities and Exchange Commission (SEC), Foundry Partners LLC reduced its stake in the business services provider by 10.0%. As a result, they sold 5,905 shares of Barrett Business Services’ stock, leaving them with a remaining ownership of 53,085 shares.
This move indicates a decrease in Foundry Partners LLC’s confidence in Barrett Business Services’ performance and potential future returns. It is worth noting that Foundry Partners LLC’s ownership of 53,085 shares represents approximately 0.78% of the total value of Barrett Business Services. At the time of the filing, this stake was estimated to be worth $4,629,000.
Barrett Business Services recently reported its quarterly earnings data on August 2nd and delivered positive results. For the quarter, the business services provider reported earnings per share (EPS) of $2.47. This figure exceeded analysts’ consensus estimate by $0.62 per share. The company also showcased an impressive return on equity of 26.72% and a net margin of 4.39%.
Regarding revenue, Barrett Business Services generated $1.91 billion during the same period under review. Although slightly below market expectations (consensus estimate stood at $1.94 billion), this level of revenue demonstrates the company’s significant performance within its industry.
Looking ahead, research analysts predict that Barrett Business Services will achieve earnings per share of approximately 6.78 for the current fiscal year.
Investors and financial experts are advised to closely monitor developments surrounding Barrett Business Services due to these recent occurrences involving Foundry Partners LLC’s adjusted holding position and their strong earnings report for Q2 2023.
As always, conducting extensive stock analysis is crucial when making investment decisions. Therefore, it is recommended to review all available information and consult with financial professionals before making any investment moves related to Barrett Business Services, Inc.
Barrett Business Services, Inc.
Updated on: 07/12/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
2:00 PM (UTC)
Date:04 December, 2023
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Hedge Funds Shake up Holdings in Barrett Business Services, Leaving Investors Speculating on Implications
In a surprising turn of events, various hedge funds have made significant changes to their holdings of Barrett Business Services. This news comes as a shock to many investors, who are now left wondering about the implications of these modifications.
One noteworthy adjustment was made by Dorsey Wright & Associates, which recently purchased a new stake in shares of Barrett Business Services during the fourth quarter. The value of this acquisition amounted to approximately $29,000. Similarly, Tower Research Capital LLC TRC decided to raise its holdings in Barrett Business Services by an impressive 54.1% during the third quarter. The company now possesses 467 shares of the business services provider’s stock, valued at $36,000 after purchasing an additional 164 shares.
Another eye-catching move was made by PNC Financial Services Group Inc., who decided to raise its holdings in Barrett Business Services by 25.9% during the fourth quarter. As a result, PNC Financial Services Group Inc. now owns 584 shares with a total value estimated at $54,000 after purchasing an additional 120 shares.The perplexing nature of these transactions has left industry experts baffled as they try to decipher the motives behind them.
Furthermore, Vestcor Inc entered the mix by purchasing a new stake in Barrett Business Services during the fourth quarter worth an estimated $93,000. Lastly, Lazard Asset Management LLC increased its holdings in Barrett Business Services by 26.9% during the first quarter. With this increase, Lazard Asset Management LLC now owns 1,029 shares of the business services provider’s stock valued at $79,000 after acquiring an additional 218 shares.
To top it off, it was revealed that a staggering 85.91% of Barrett Business Service’s stock is owned by hedge funds and other institutional investors further heightening interest and speculation around these recent developments.
The journey doesn’t end there; let’s delve deeper into some key details about Barrett Business Services. As of Wednesday, September 20, the opening stock price stood at $90.43. Meanwhile, the fifty-day moving average reached $93.26 and the two-hundred-day moving average was recorded at $88.74. With a market capitalization amounting to $608.59 million, Barrett Business Services holds its ground as a legitimate player in the business services sector.
Analyzing the company’s financial figures reveals an intriguing picture. The price-to-earnings ratio stands at 13.54, while the price-to-earnings-growth ratio is 0.97 – both figures indicating favorable trends for investors. Moreover, with a beta of 1.37, Barrett Business Services appears to have a fair degree of volatility compared to other stocks.
In terms of dividends, investors will be pleased to know that Barrett Business Services recently declared a quarterly dividend which was paid on Friday, September 1st. Shareholders who were on record by Friday, August 18th received a dividend of $0.30 per share. This translates into an annualized dividend rate of $1.20 and an impressive dividend yield of 1.33%. All this information serves as an additional source of interest and speculation for seasoned investors.
Industry analysts have been eager to provide their insights on Barrett Business Services following these interesting developments within the company Firstly, Barrington Research reaffirmed its “outperform” rating and set a price target of $104 on shares of Barrett Business Services in a recent report released on Thursday, August 3rd Secondly, StockNews.com upgraded Barrett Business Services from a “buy” rating to a “strong-buy” rating in another report published more recently.
As perplexing as these updates may seem at first glance, they undoubtedly have stirred interest among investors and industry experts alike.With many questions left unanswered and speculations still looming large,it remains to be seen how this narrative will unfold and what it may mean for Barrett Business Services in the long run.