Barrett Business Services, Inc. $BBSI is 22NW LP's 9th Largest Position

Key Points

• 22NW LP reduced its stake in Barrett Business Services, Inc. by 50% during the first quarter, now holding 132,452 shares valued at approximately $5.45 million.
• Several institutional investors, including PNC Financial Services Group and US Bancorp DE, increased their positions in Barrett Business Services, with institutional ownership now at 86.76%.
• Barrett Business Services recently reported earnings surpassing analysts' expectations, with a 10% year-over-year revenue increase totaling $307.7 million.

22NW LP trimmed its holdings in Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 50.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 132,452 shares of the business services provider's stock after selling 132,452 shares during the period. Barrett Business Services comprises about 4.1% of 22NW LP's investment portfolio, making the stock its 9th largest holding. 22NW LP owned about 0.52% of Barrett Business Services worth $5,450,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Martingale Asset Management L P grew its stake in shares of Barrett Business Services by 0.6% during the 1st quarter. Martingale Asset Management L P now owns 38,213 shares of the business services provider's stock worth $1,572,000 after acquiring an additional 242 shares in the last quarter. Two Sigma Advisers LP boosted its position in Barrett Business Services by 4.5% during the fourth quarter. Two Sigma Advisers LP now owns 6,900 shares of the business services provider's stock valued at $300,000 after purchasing an additional 300 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in Barrett Business Services by 1.4% in the first quarter. SummerHaven Investment Management LLC now owns 23,827 shares of the business services provider's stock valued at $980,000 after purchasing an additional 332 shares in the last quarter. Perkins Coie Trust Co increased its position in shares of Barrett Business Services by 10.0% during the 1st quarter. Perkins Coie Trust Co now owns 4,400 shares of the business services provider's stock worth $181,000 after purchasing an additional 400 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Barrett Business Services by 26.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,309 shares of the business services provider's stock valued at $95,000 after purchasing an additional 482 shares during the period. Institutional investors and hedge funds own 86.76% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BBSI shares. Wall Street Zen raised shares of Barrett Business Services from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Barrington Research lifted their target price on shares of Barrett Business Services from $45.00 to $49.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $47.00.

Barrett Business Services Stock Up 0.1%

NASDAQ BBSI traded up $0.05 on Thursday, hitting $48.53. 115,175 shares of the company were exchanged, compared to its average volume of 144,444. Barrett Business Services, Inc. has a 12 month low of $34.43 and a 12 month high of $49.63. The company has a market cap of $1.25 billion, a PE ratio of 23.91, a PEG ratio of 1.60 and a beta of 1.02. The stock has a fifty day moving average of $44.65 and a 200-day moving average of $42.19. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.35.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The business services provider reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.05. Barrett Business Services had a return on equity of 24.59% and a net margin of 4.49%.The firm had revenue of $307.70 million during the quarter, compared to analysts' expectations of $299.95 million. During the same quarter last year, the firm posted $0.62 earnings per share. The company's revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, analysts forecast that Barrett Business Services, Inc. will post 2 earnings per share for the current year.

Barrett Business Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $0.32 annualized dividend and a dividend yield of 0.7%. Barrett Business Services's payout ratio is presently 15.76%.

Insider Buying and Selling at Barrett Business Services

In other Barrett Business Services news, Director Thomas J. Carley sold 12,646 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $47.62, for a total transaction of $602,202.52. Following the transaction, the director directly owned 94,692 shares in the company, valued at approximately $4,509,233.04. This trade represents a 11.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas B. Cusick sold 3,064 shares of Barrett Business Services stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $47.64, for a total transaction of $145,968.96. Following the transaction, the director directly owned 27,776 shares in the company, valued at $1,323,248.64. This represents a 9.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,417 shares of company stock worth $1,628,361. 4.10% of the stock is currently owned by 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.