Barrett Business Services, Inc. $BBSI Shares Sold by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC cut its Barrett Business Services stake by 83.8% in the second quarter, selling 42,236 shares and retaining 8,153 shares worth approximately $290,000. Institutional investors and hedge funds collectively own 86.76% of BBSI.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $41.00. However, BBSI’s latest quarterly results fell slightly short of expectations, reporting EPS of $0.52 versus the $0.56 estimate.
• Company insiders sold 20,779 shares worth approximately $786,233 over the past 90 days, while BBSI recently paid a quarterly dividend of $0.08 per share, equivalent to a 1.0% annualized yield.

Squarepoint Ops LLC decreased its holdings in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 83.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 8,153 shares of the business services provider's stock after selling 42,236 shares during the period. Squarepoint Ops LLC's holdings in Barrett Business Services were worth $290,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Waverly Advisors LLC grew its position in Barrett Business Services by 0.6% during the 2nd quarter. Waverly Advisors LLC now owns 60,543 shares of the business services provider's stock worth $2,150,000 after purchasing an additional 350 shares during the last quarter. Corient Private Wealth LP raised its holdings in shares of Barrett Business Services by 5.0% in the second quarter. Corient Private Wealth LP now owns 36,377 shares of the business services provider's stock worth $1,292,000 after buying an additional 1,741 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in shares of Barrett Business Services by 15.2% in the second quarter. Susquehanna Fundamental Investments LLC now owns 45,857 shares of the business services provider's stock worth $1,629,000 after buying an additional 6,062 shares during the last quarter. Grandeur Peak Global Advisors LLC acquired a new stake in shares of Barrett Business Services during the second quarter worth $10,847,000. Finally, Bank of America Corp DE acquired a new stake in shares of Barrett Business Services during the second quarter worth $2,333,000. Institutional investors and hedge funds own 86.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BBSI shares. Barrington Research set a $44.00 target price on Barrett Business Services in a research report on Thursday, August 6th. Citigroup reaffirmed an "outperform" rating on shares of Barrett Business Services in a research report on Thursday, August 6th. Weiss Ratings upgraded Barrett Business Services from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, July 13th. Wall Street Zen raised Barrett Business Services from a "sell" rating to a "hold" rating in a report on Saturday, June 6th. Finally, Roth Capital cut Barrett Business Services from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $42.00 to $38.00 in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Barrett Business Services currently has an average rating of "Moderate Buy" and an average price target of $41.00.

Insider Transactions at Barrett Business Services

In related news, Director Anthony Meeker sold 12,000 shares of Barrett Business Services stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $37.85, for a total transaction of $454,200.00. Following the completion of the transaction, the director directly owned 44,945 shares in the company, valued at approximately $1,701,168.25. This trade represents a 21.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James R. Potts sold 3,490 shares of the business's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $38.00, for a total value of $132,620.00. Following the completion of the transaction, the executive vice president directly owned 32,035 shares of the company's stock, valued at $1,217,330. The trade was a 9.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 20,779 shares of company stock worth $786,233 in the last 90 days. Company insiders own 4.80% of the company's stock.

Barrett Business Services Price Performance

NASDAQ:BBSI opened at $32.61 on Thursday. The company's fifty day moving average price is $35.24 and its 200-day moving average price is $32.89. Barrett Business Services, Inc. has a 1-year low of $25.33 and a 1-year high of $45.67. The firm has a market capitalization of $790.47 million, a P/E ratio of 23.98, a PEG ratio of 1.24 and a beta of 0.92.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last posted its earnings results on Wednesday, August 5th. The business services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.04). The business had revenue of $319.27 million for the quarter, compared to analyst estimates of $321.55 million. Barrett Business Services had a net margin of 2.77% and a return on equity of 20.95%. Equities analysts anticipate that Barrett Business Services, Inc. will post 1.68 EPS for the current fiscal year.

Barrett Business Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Friday, August 21st were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, August 21st. Barrett Business Services's payout ratio is 23.53%.

Barrett Business Services Profile

Barrett Business Services, Inc NASDAQ: BBSI provides business management solutions for small and mid-sized companies in the United States. The company combines professional employer organization (PEO) services with staffing and recruiting capabilities, allowing clients to outsource or supplement key human resources and administrative functions.

Its services include payroll administration, employee benefits support, workers' compensation management, human resources guidance, workplace safety and risk management, and regulatory compliance assistance.

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