Bowling Portfolio Management LLC lowered its stake in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 15.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,934 shares of the business services provider’s stock after selling 1,953 shares during the quarter. Bowling Portfolio Management LLC owned about 0.15% of Barrett Business Services worth $971,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Macquarie Group Ltd. purchased a new position in shares of Barrett Business Services during the second quarter worth about $50,000. Royal Bank of Canada grew its holdings in shares of Barrett Business Services by 9.8% during the second quarter. Royal Bank of Canada now owns 22,009 shares of the business services provider’s stock worth $1,818,000 after buying an additional 1,970 shares during the last quarter. United Services Automobile Association grew its holdings in shares of Barrett Business Services by 7.7% during the second quarter. United Services Automobile Association now owns 4,253 shares of the business services provider’s stock worth $351,000 after buying an additional 303 shares during the last quarter. Susquehanna International Group LLP purchased a new position in shares of Barrett Business Services during the second quarter worth about $224,000. Finally, Nuveen Asset Management LLC purchased a new stake in Barrett Business Services in the 2nd quarter valued at approximately $4,718,000. 80.22% of the stock is currently owned by hedge funds and other institutional investors.
BBSI has been the topic of a number of analyst reports. Roth Capital lifted their price objective on Barrett Business Services from $110.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, August 8th. ValuEngine lowered Barrett Business Services from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. BidaskClub raised Barrett Business Services from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 19th. Finally, Zacks Investment Research lowered Barrett Business Services from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th.
Shares of BBSI opened at $86.77 on Thursday. Barrett Business Services, Inc. has a twelve month low of $53.10 and a twelve month high of $91.92. The stock’s 50 day moving average is $87.20 and its two-hundred day moving average is $82.29. The firm has a market capitalization of $639.71 million, a PE ratio of 13.79 and a beta of 0.84. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17.
Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $1.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.12. Barrett Business Services had a return on equity of 39.94% and a net margin of 5.09%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. On average, sell-side analysts predict that Barrett Business Services, Inc. will post 5.53 EPS for the current year.
In other news, Director Thomas J. Carley sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $88.25, for a total transaction of $264,750.00. Following the sale, the director now owns 24,989 shares of the company’s stock, valued at approximately $2,205,279.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James B. Hicks sold 2,176 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $85.20, for a total value of $185,395.20. Following the sale, the director now directly owns 17,618 shares in the company, valued at approximately $1,501,053.60. The disclosure for this sale can be found here. Insiders sold a total of 5,376 shares of company stock worth $467,317 in the last ninety days. 6.80% 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. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. The company offers professional employer services under which it enters into a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers' compensation coverage, and other administration functions for the client's existing workforce.
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