Algert Global LLC Invests $362,000 in Barrett Business Services, Inc. $BBSI

Key Points

• Algert Global LLC has acquired a new stake in Barrett Business Services, Inc. (NASDAQ:BBSI) valued at approximately $362,000 by purchasing 8,800 shares.
• The company reported quarterly earnings of $0.70 per share, surpassing analysts' expectations of $0.65, and a revenue increase of 10.0% year-over-year.
• Barrett Business Services is set to pay a quarterly dividend of $0.08 on September 5th, which represents an annual yield of 0.7%.

Algert Global LLC purchased a new position in Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 8,800 shares of the business services provider's stock, valued at approximately $362,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Deutsche Bank AG boosted its stake in shares of Barrett Business Services by 43.3% during the 4th quarter. Deutsche Bank AG now owns 27,831 shares of the business services provider's stock valued at $1,209,000 after buying an additional 8,403 shares during the last quarter. Two Sigma Investments LP purchased a new position in shares of Barrett Business Services during the 4th quarter valued at approximately $353,000. GAMMA Investing LLC boosted its stake in shares of Barrett Business Services by 5,807.9% during the 1st quarter. GAMMA Investing LLC now owns 11,934 shares of the business services provider's stock valued at $491,000 after buying an additional 11,732 shares during the last quarter. Brio Consultants LLC purchased a new position in shares of Barrett Business Services during the 1st quarter valued at approximately $284,000. Finally, Bank of America Corp DE boosted its stake in shares of Barrett Business Services by 1.5% during the 4th quarter. Bank of America Corp DE now owns 78,617 shares of the business services provider's stock valued at $3,415,000 after buying an additional 1,177 shares during the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Thomas J. Carley sold 12,646 shares of the company'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 completion of the transaction, the director directly owned 94,692 shares in the company, valued at $4,509,233.04. This represents a 11.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anthony Meeker sold 7,380 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $42.14, for a total value of $310,993.20. Following the transaction, the director owned 55,504 shares of the company's stock, valued at approximately $2,338,938.56. The trade was a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,417 shares of company stock valued at $1,628,361 in the last 90 days. Corporate insiders own 4.10% of the company's stock.

Analysts Set New Price Targets

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

Barrett Business Services Stock Performance

BBSI traded up $0.06 during trading on Thursday, reaching $48.54. 115,175 shares of the company were exchanged, compared to its average volume of 144,444. The stock has a market cap of $1.25 billion, a P/E ratio of 23.91, a PEG ratio of 1.60 and a beta of 1.02. The firm has a 50 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, Inc. has a 52 week low of $34.43 and a 52 week high of $49.63.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The business services provider reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.05. The firm had revenue of $307.70 million during the quarter, compared to the consensus estimate of $299.95 million. Barrett Business Services had a return on equity of 24.59% and a net margin of 4.49%.The firm's revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.62 EPS. On average, sell-side analysts forecast that Barrett Business Services, Inc. will post 2 EPS for the current fiscal year.

Barrett Business Services Announces Dividend

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

Barrett Business Services Company Profile

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.