Barrett Business Services, Inc. $BBSI Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in Barrett Business Services by 37.6% during the first quarter, selling 94,254 shares and owning approximately 0.61% of the company now valued at $6.45 million.
• Barrett Business Services reported a quarterly earnings of $0.70 EPS, surpassing analysts' estimates and achieving a revenue of $307.70 million, a 10% increase year-over-year.
• The company recently announced a quarterly dividend of $0.08 per share, with a payout ratio of 15.76% and a yield of 0.7% for shareholders.

Goldman Sachs Group Inc. trimmed its holdings in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 37.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 156,702 shares of the business services provider's stock after selling 94,254 shares during the period. Goldman Sachs Group Inc. owned about 0.61% of Barrett Business Services worth $6,448,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Voya Investment Management LLC raised its stake in shares of Barrett Business Services by 12.1% during the 1st quarter. Voya Investment Management LLC now owns 13,595 shares of the business services provider's stock worth $559,000 after buying an additional 1,467 shares in the last quarter. Strs Ohio purchased a new position in Barrett Business Services in the 1st quarter valued at approximately $658,000. Jane Street Group LLC purchased a new position in Barrett Business Services in the 1st quarter valued at approximately $1,732,000. Dynamic Technology Lab Private Ltd purchased a new position in Barrett Business Services in the 1st quarter valued at approximately $322,000. Finally, Millennium Management LLC purchased a new position in Barrett Business Services in the 1st quarter valued at approximately $3,747,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Barrett Business Services Stock Down 0.6%

NASDAQ:BBSI traded down $0.27 during mid-day trading on Friday, reaching $46.64. The stock had a trading volume of 52,814 shares, compared to its average volume of 145,061. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 1.52 and a beta of 1.01. Barrett Business Services, Inc. has a 1-year low of $35.81 and a 1-year high of $49.65. The stock's 50 day simple moving average is $46.37 and its two-hundred day simple moving average is $42.89. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.25 and a quick ratio of 1.25.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last posted its quarterly earnings results 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 business 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 company's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the firm earned $0.62 earnings per share. Equities analysts anticipate that Barrett Business Services, Inc. will post 2 EPS for the current year.

Barrett Business Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, August 22nd. Barrett Business Services's dividend payout ratio (DPR) is 15.76%.

Insiders Place Their Bets

In other Barrett Business Services news, Director Anthony Meeker sold 3,064 shares of Barrett Business Services stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $46.78, for a total value of $143,333.92. Following the completion of the transaction, the director directly owned 54,601 shares in the company, valued at $2,554,234.78. The trade was a 5.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gary Kramer sold 80,000 shares of Barrett Business Services stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $48.35, for a total value of $3,868,000.00. Following the completion of the transaction, the chief executive officer owned 287,040 shares of the company's stock, valued at approximately $13,878,384. The trade was a 21.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,101 shares of company stock valued at $5,328,702. 4.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BBSI. Barrington Research raised their price objective 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 note on Sunday, September 7th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $47.00.

Barrett Business Services 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.