Pacific Ridge Capital Partners LLC Reduces Holdings in Barrett Business Services, Inc. (NASDAQ:BBSI)

Key Points

• Pacific Ridge Capital Partners LLC has decreased its stake in Barrett Business Services, Inc. (NASDAQ:BBSI) by 4.3%, now holding 270,387 shares worth $11.1 million, making it the firm’s third-largest holding.
• Barrett Business Services reported a quarterly earnings per share of ($0.04), exceeding analysts' estimates and showing a 10.1% increase in revenue year-over-year.
• The company recently announced a quarterly dividend of $0.08 per share, representing a yield of 0.7%, with a payout ratio of 16.41%.

Pacific Ridge Capital Partners LLC cut its holdings in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 270,387 shares of the business services provider's stock after selling 12,056 shares during the period. Barrett Business Services makes up approximately 2.9% of Pacific Ridge Capital Partners LLC's holdings, making the stock its 3rd biggest position. Pacific Ridge Capital Partners LLC owned about 1.05% of Barrett Business Services worth $11,126,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BBSI. Deutsche Bank AG increased 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 worth $1,209,000 after purchasing an additional 8,403 shares during the last quarter. Two Sigma Investments LP bought a new position in Barrett Business Services during the 4th quarter valued at about $353,000. GAMMA Investing LLC lifted its holdings in 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 purchasing an additional 11,732 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Barrett Business Services by 1.5% in the fourth quarter. Bank of America Corp DE now owns 78,617 shares of the business services provider's stock worth $3,415,000 after acquiring an additional 1,177 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Barrett Business Services by 17.1% in the fourth quarter. Franklin Resources Inc. now owns 50,091 shares of the business services provider's stock worth $2,176,000 after acquiring an additional 7,301 shares during the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Barrett Business Services Trading Up 0.4%

Shares of NASDAQ:BBSI traded up $0.19 during trading on Monday, hitting $44.23. 136,017 shares of the company's stock were exchanged, compared to its average volume of 142,036. The firm has a market cap of $1.14 billion, a P/E ratio of 22.68, a PEG ratio of 1.49 and a beta of 1.02. The firm has a 50-day moving average price of $42.81 and a two-hundred day moving average price of $41.76. Barrett Business Services, Inc. has a 1-year low of $31.77 and a 1-year high of $46.90.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The business services provider reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.09. Barrett Business Services had a net margin of 4.45% and a return on equity of 24.55%. The firm had revenue of $292.60 million for the quarter, compared to analyst estimates of $285.91 million. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The business's revenue was up 10.1% on a year-over-year basis. As a group, research analysts predict that Barrett Business Services, Inc. will post 2 EPS for the current year.

Analyst Ratings Changes

BBSI has been the subject of several analyst reports. Barrington Research reiterated an "outperform" rating and set a $45.00 price target on shares of Barrett Business Services in a research report on Tuesday, May 6th. Wall Street Zen cut shares of Barrett Business Services from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th.

Insider Buying and Selling at Barrett Business Services

In other news, COO Gerald Blotz sold 13,327 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.71, for a total value of $569,196.17. Following the sale, the chief operating officer owned 209,096 shares of the company's stock, valued at $8,930,490.16. The trade was a 5.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas J. Carley sold 12,354 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $42.60, for a total transaction of $526,280.40. Following the completion of the sale, the director directly owned 91,628 shares in the company, valued at approximately $3,903,352.80. This represents a 11.88% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,061 shares of company stock valued at $1,406,470. 4.10% of the stock is currently owned by corporate insiders.

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.