Pacific Ridge Capital Partners LLC Sells 12,056 Shares of 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 trimmed its holdings in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent 13F filing 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 quarter. Barrett Business Services accounts for about 2.9% of Pacific Ridge Capital Partners LLC's portfolio, making the stock its 3rd largest position. Pacific Ridge Capital Partners LLC owned approximately 1.05% of Barrett Business Services worth $11,126,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Private Trust Co. NA purchased a new position in Barrett Business Services in the first quarter worth approximately $33,000. PNC Financial Services Group Inc. grew its holdings in shares of Barrett Business Services by 26.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,309 shares of the business services provider's stock worth $95,000 after purchasing an additional 482 shares during the last quarter. Perkins Coie Trust Co boosted its holdings in Barrett Business Services by 10.0% in the 1st quarter. Perkins Coie Trust Co now owns 4,400 shares of the business services provider's stock valued at $181,000 after purchasing an additional 400 shares in the last quarter. US Bancorp DE lifted its position in shares of Barrett Business Services by 3,939.3% during the 1st quarter. US Bancorp DE now owns 4,524 shares of the business services provider's stock valued at $186,000 after acquiring an additional 4,412 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Barrett Business Services during the 4th quarter valued at approximately $209,000. Hedge funds and other institutional investors own 86.76% of the company's stock.

Barrett Business Services Trading Down 1.3%

BBSI stock traded down $0.60 during midday trading on Wednesday, reaching $43.88. The company had a trading volume of 45,670 shares, compared to its average volume of 141,366. The company has a 50 day moving average of $42.92 and a two-hundred day moving average of $41.79. Barrett Business Services, Inc. has a 1 year low of $31.77 and a 1 year high of $46.90. The company has a market capitalization of $1.13 billion, a P/E ratio of 22.52, a PEG ratio of 1.50 and a beta of 1.02.

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 (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $285.91 million. During the same period last year, the firm posted ($0.01) EPS. The firm's quarterly revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts anticipate that Barrett Business Services, Inc. will post 2 earnings per share for the current year.

Insider Activity at Barrett Business Services

In related news, Director Anthony Meeker sold 7,380 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $42.14, for a total transaction of $310,993.20. Following the completion of the transaction, the director owned 55,504 shares in the company, valued at approximately $2,338,938.56. The trade was a 11.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas J. Carley sold 12,354 shares of Barrett Business Services stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $42.60, for a total transaction of $526,280.40. Following the completion of the transaction, the director directly owned 91,628 shares in the company, valued at approximately $3,903,352.80. The trade was a 11.88% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,061 shares of company stock worth $1,406,470. 4.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BBSI shares. Barrington Research reiterated an "outperform" rating and issued a $45.00 price target on shares of Barrett Business Services in a report on Tuesday, May 6th. Wall Street Zen lowered shares of Barrett Business Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 16th.

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.