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North Star Investment Management Corp. Reduces Holdings in Barrett Business Services
North Star Investment Management Corp. disclosed that it has cut its holdings in Barrett Business Services, Inc. (NASDAQ:BBSI) by 25.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The company sold 10,000 shares during the quarter, leaving it with 29,000 shares in the business services provider’s stock. North Star’s holdings were worth $2,705,000 as of its most recent SEC filing.
Hedge Funds and Institutional Investors Dominate Ownership
Public Employees Retirement System of Ohio lifted its stake in Barrett Business Services by 2.0% in the third quarter. Meanwhile, a number of other hedge funds also recently added to, or reduced, their stake in the business. Among these was Tower Research Capital LLC TRC, which lifted its position in shares of Barrett Business Services by 54.1% during the third quarter, bringing its total holding to 467 shares. This leaves 86.40% of the stock owned by hedge funds and other institutional investors.
Barrett Business Services Stocks Seeing Slight Decline
Despite the news, Barrett Business Services’ stocks only took a minor hit, losing 1.5% in value. The company’s shares opened at $85.52 on Friday, with a 52-week high of $100.85 and a 52-week low of $65.93.
About Barrett Business Services
Barrett Business Services is a business management solutions provider for small and mid-sized companies. It offers a management platform that blends a knowledge-based approach from the management consulting industry with HR outsourcing tools. The company focuses on professional employers and staffing and recruiting services.
Dividend Payout Ratio Announced
Barrett Business Services also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will receive $0.30 per share. This represents a dividend yield of 1.40%, and based on Barrett Business Services’ dividend payout ratio (DPR) of 18.15%, the company remains committed to paying its shareholders.
Wall Street Analysts Recommend a “Buy” Rating
Falling in line with current analyses is StockNews.com, which recommended a “buy” rating for Barrett Business Services. Additionally, Barrington Research increased its price target on the company’s shares from $102.00 to $104.00 in a research report released earlier this month. With four analysts giving the stock a “buy” rating, the average price target is $100.50.
Top Analysts Recommended Stocks to Buy
While Barrett Business Services remains a “Buy” rated stock, it has not been included in the top five recommended stocks by top-rated analysts. MarketBeat tracks Wall Street’s top-rated research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are whispering to their clients to buy now before the rest of the market catches on. Join the newsletter to find out what these five stocks are and why they are a good investment.
