Riverbridge Partners LLC Makes New $14.79 Million Investment in Barrett Business Services, Inc. $BBSI

Key Points

• Riverbridge Partners LLC has made a new investment of approximately $14.79 million in Barrett Business Services, acquiring 354,809 shares, which amounts to about 1.38% of the company.
• Insider selling includes CEO Gary Kramer selling 80,000 shares, representing a 21.8% decrease in his holdings, and Director Anthony Meeker selling 3,064 shares.
• Barrett Business Services recently reported a quarterly earnings per share of $0.70, exceeding analyst predictions, and announced a dividend of $0.08 per share, reflecting a yield of 0.7%.

Riverbridge Partners LLC purchased a new stake in Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 354,809 shares of the business services provider's stock, valued at approximately $14,792,000. Riverbridge Partners LLC owned approximately 1.38% of Barrett Business Services as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in BBSI. Private Trust Co. NA purchased a new position in shares of Barrett Business Services in the first quarter valued at $33,000. Quantbot Technologies LP purchased a new position in shares of Barrett Business Services in the first quarter valued at $75,000. PNC Financial Services Group Inc. grew its position in shares of Barrett Business Services by 26.4% in the first quarter. PNC Financial Services Group Inc. now owns 2,309 shares of the business services provider's stock valued at $95,000 after purchasing an additional 482 shares in the last quarter. Virtus Advisers LLC purchased a new position in shares of Barrett Business Services in the first quarter valued at $163,000. Finally, Perkins Coie Trust Co grew its position in shares of Barrett Business Services by 10.0% in the first 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. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Gary Kramer sold 80,000 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $48.35, for a total value of $3,868,000.00. Following the completion of the sale, the chief executive officer owned 287,040 shares of the company's stock, valued at approximately $13,878,384. The trade was a 21.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anthony Meeker sold 3,064 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $46.78, for a total value of $143,333.92. Following the completion of the sale, the director directly owned 54,601 shares of the company's stock, valued at approximately $2,554,234.78. This trade represents a 5.31% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 123,765 shares of company stock valued at $5,866,179. 4.10% of the stock is owned by insiders.

Barrett Business Services Trading Down 0.8%

Shares of BBSI stock opened at $45.00 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $46.58 and a two-hundred day moving average price of $43.07. Barrett Business Services, Inc. has a 12-month low of $35.81 and a 12-month high of $49.65. The firm has a market cap of $1.16 billion, a P/E ratio of 22.17, a price-to-earnings-growth ratio of 1.48 and a beta of 1.01.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. Barrett Business Services had a return on equity of 24.59% and a net margin of 4.49%.The firm had revenue of $307.70 million during the quarter, compared to analyst estimates of $299.95 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. The company's revenue was up 10.0% compared to the same quarter last year. Equities analysts anticipate that Barrett Business Services, Inc. will post 2 EPS for the current fiscal year.

Barrett Business Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $0.32 annualized dividend and a yield of 0.7%. Barrett Business Services's payout ratio is 15.76%.

Analyst Upgrades and Downgrades

BBSI has been the subject of several recent research reports. Barrington Research lifted their price target on Barrett Business Services from $45.00 to $49.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Wall Street Zen raised Barrett Business Services from a "hold" rating to a "buy" rating in a research note on Sunday, September 7th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $47.00.

Barrett Business Services Company 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.

Want to see what other hedge funds are holding BBSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.