Harvest Fund Management Co. Ltd Has $94,000 Holdings in Barrett Business Services, Inc. (NASDAQ:BBSI)

Key Points

• Harvest Fund Management Co. Ltd significantly reduced its holdings in Barrett Business Services by 78.5%, selling 8,319 shares, resulting in ownership of just 2,277 shares valued at $94,000.
• Several institutional investors, including Deutsche Bank AG and GAMMA Investing LLC, increased their investments in Barrett Business Services, indicating ongoing interest in the stock.
• Barrett Business Services reported earnings of ($0.04) EPS, beating analysts' expectations and showing a year-over-year revenue increase of 10.1%.

Harvest Fund Management Co. Ltd trimmed its holdings in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 78.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,277 shares of the business services provider's stock after selling 8,319 shares during the period. Harvest Fund Management Co. Ltd's holdings in Barrett Business Services were worth $94,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Private Trust Co. NA acquired a new position in shares of Barrett Business Services in the 1st quarter valued at $33,000. Perkins Coie Trust Co raised its stake in shares of 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 acquiring an additional 400 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Barrett Business Services in the 4th quarter valued at $209,000. Two Sigma Securities LLC purchased a new position in shares of Barrett Business Services in the 4th quarter valued at $218,000. Finally, Brevan Howard Capital Management LP raised its stake in shares of Barrett Business Services by 10.8% in the 4th quarter. Brevan Howard Capital Management LP now owns 6,773 shares of the business services provider's stock valued at $294,000 after acquiring an additional 660 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Barrett Business Services Trading Up 0.6%

BBSI stock traded up $0.25 during trading on Monday, reaching $44.29. The stock had a trading volume of 21,617 shares, compared to its average volume of 141,243. The firm has a fifty day moving average price of $42.81 and a 200 day moving average price of $41.76. The company has a market capitalization of $1.14 billion, a P/E ratio of 22.70, a PEG ratio of 1.49 and a beta of 1.02. 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 released its earnings results on Wednesday, May 7th. The business services provider reported ($0.04) earnings per share for the quarter, topping 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 company had revenue of $292.60 million during the quarter, compared to the consensus estimate of $285.91 million. During the same quarter in the previous year, the firm earned ($0.01) EPS. The company's revenue was up 10.1% on a year-over-year basis. Sell-side analysts predict that Barrett Business Services, Inc. will post 2 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Barrington Research reissued an "outperform" rating and issued a $45.00 target price on shares of Barrett Business Services in a research note on Tuesday, May 6th. Wall Street Zen downgraded shares of Barrett Business Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 16th.

Insider Activity

In other Barrett Business Services news, Director Anthony Meeker sold 7,380 shares of the business's stock in a transaction dated 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 directly owned 55,504 shares of the company's stock, valued at $2,338,938.56. The trade was a 11.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Gerald Blotz sold 13,327 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $42.71, for a total transaction of $569,196.17. Following the transaction, the chief operating officer directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 33,061 shares of company stock valued at $1,406,470. Company insiders own 4.10% of the company's stock.

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.