Crown Advisors Management Inc. Makes New Investment in Barrett Business Services, Inc. $BBSI

Key Points

• Crown Advisors Management initiated a 60,000-share position in Barrett Business Services during the second quarter, valued at approximately $2.13 million and representing 0.24% of the company.
• Analyst sentiment remains broadly positive but mixed: BBSI has a “Moderate Buy” consensus rating and an average price target of $41, although Zacks downgraded the stock to “Strong Sell” and Roth Capital cut its target to $38.
• Barrett Business Services missed quarterly estimates, reporting $0.52 in adjusted EPS versus $0.56 expected and revenue of $319.27 million versus $321.55 million expected. The company declared a quarterly dividend of $0.08 per share, yielding about 1.0% annually.

Crown Advisors Management Inc. bought a new stake in Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 60,000 shares of the business services provider's stock, valued at approximately $2,131,000. Barrett Business Services comprises approximately 1.2% of Crown Advisors Management Inc.'s portfolio, making the stock its 25th biggest position. Crown Advisors Management Inc. owned approximately 0.24% of Barrett Business Services as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Barrett Business Services by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,219 shares of the business services provider's stock worth $626,000 after purchasing an additional 633 shares during the period. Millennium Management LLC bought a new position in Barrett Business Services during the first quarter valued at $3,747,000. Jane Street Group LLC bought a new position in Barrett Business Services during the first quarter valued at $1,732,000. Creative Planning increased its position in Barrett Business Services by 71.8% in the second quarter. Creative Planning now owns 9,778 shares of the business services provider's stock worth $408,000 after buying an additional 4,085 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Barrett Business Services by 40.8% in the second quarter. American Century Companies Inc. now owns 37,923 shares of the business services provider's stock worth $1,581,000 after buying an additional 10,994 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on BBSI shares. Zacks Research lowered Barrett Business Services from a "hold" rating to a "strong sell" rating in a research note on Friday, August 7th. Barrington Research set a $44.00 price target on Barrett Business Services in a research note on Thursday, August 6th. Weiss Ratings raised Barrett Business Services from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, July 13th. Citigroup restated an "outperform" rating on shares of Barrett Business Services in a research note on Thursday, August 6th. Finally, Roth Capital downgraded shares of Barrett Business Services from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $42.00 to $38.00 in a report on Thursday, August 6th. One 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.com, the company has an average rating of "Moderate Buy" and an average price target of $41.00.

Barrett Business Services Stock Performance

NASDAQ:BBSI opened at $32.24 on Monday. The business's fifty day moving average is $36.46 and its 200 day moving average is $32.84. The firm has a market cap of $781.50 million, a price-to-earnings ratio of 23.71, a PEG ratio of 1.20 and a beta of 0.94. Barrett Business Services, Inc. has a 52-week low of $25.33 and a 52-week high of $49.65.

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 for the quarter, missing analysts' consensus estimates of $0.56 by ($0.04). The company had revenue of $319.27 million for the quarter, compared to analysts' expectations of $321.55 million. Barrett Business Services had a net margin of 2.77% and a return on equity of 20.95%. Equities analysts predict that Barrett Business Services, Inc. will post 1.68 EPS for the current fiscal year.

Barrett Business Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 21st will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, August 21st. Barrett Business Services's payout ratio is 23.53%.

Insider Buying and Selling at Barrett Business Services

In related news, Director Anthony Meeker sold 12,000 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $37.85, for a total value of $454,200.00. Following the sale, the director 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 filing with the SEC, which is accessible through the SEC website. Also, EVP James R. Potts sold 3,490 shares of Barrett Business Services stock in a transaction 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 sale, the executive vice president directly owned 32,035 shares of the company's stock, valued at $1,217,330. This represents a 9.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 20,779 shares of company stock worth $786,233. Insiders own 4.80% of the company's stock.

Barrett Business Services Profile

Barrett Business Services, Inc NASDAQ: BBSI is a professional employer organization (PEO) headquartered in Northridge, California. Founded in 1971 by Barrett K. Levesque, the company provides comprehensive human resources outsourcing solutions to small and mid-sized businesses. Through its consultative model, Barrett Business Services helps clients streamline administrative processes, mitigate regulatory risk and focus on core operations.

The company's core offerings include payroll administration, employee benefits management, workers' compensation and risk management services.

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