Russell Investments Group Ltd. Grows Stake in Barrett Business Services, Inc. $BBSI

Key Points

• Russell Investments Group Ltd. increased its stake in Barrett Business Services, Inc. by 12.0%, acquiring an additional 20,169 shares, bringing its total to 187,629 shares valued at approximately $7.72 million.
• Analysts upgraded Barrett Business Services from a "hold" to a "buy" rating, with Barrington Research raising the target price to $49.00 from $45.00.
• Barrett Business Services declared a quarterly dividend of $0.08 per share, with an annualized yield of 0.7%, showcasing a payout ratio of 15.76%.

Russell Investments Group Ltd. increased its position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 12.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 187,629 shares of the business services provider's stock after buying an additional 20,169 shares during the period. Russell Investments Group Ltd. owned 0.73% of Barrett Business Services worth $7,721,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Two Sigma Advisers LP raised its stake in Barrett Business Services by 4.5% during the fourth quarter. Two Sigma Advisers LP now owns 6,900 shares of the business services provider's stock worth $300,000 after buying an additional 300 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in Barrett Business Services by 1.4% during the first quarter. SummerHaven Investment Management LLC now owns 23,827 shares of the business services provider's stock worth $980,000 after buying an additional 332 shares during the last quarter. Perkins Coie Trust Co grew its holdings in 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 worth $181,000 after purchasing an additional 400 shares during the period. PNC Financial Services Group Inc. grew its holdings in 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 worth $95,000 after purchasing an additional 482 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Barrett Business Services by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,586 shares of the business services provider's stock worth $634,000 after purchasing an additional 509 shares during the period. Institutional investors own 86.76% of the company's stock.

Insider Activity

In related 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 transaction, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Gerald Blotz sold 13,327 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $42.71, for a total transaction of $569,196.17. Following the transaction, the chief operating officer owned 209,096 shares in the company, valued at approximately $8,930,490.16. This trade represents a 5.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,417 shares of company stock valued at $1,628,361 in the last three months. 4.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on BBSI. Barrington Research raised their price target on shares of Barrett Business Services from $45.00 to $49.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Wall Street Zen upgraded shares of Barrett Business Services from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $47.00.

Barrett Business Services Stock Up 5.4%

Shares of NASDAQ:BBSI traded up $2.50 during midday trading on Friday, hitting $48.77. 214,237 shares of the company's stock were exchanged, compared to its average volume of 160,514. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a 50 day moving average price of $44.20 and a 200-day moving average price of $42.06. The company has a market cap of $1.25 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 1.59 and a beta of 1.02. Barrett Business Services, Inc. has a 12 month low of $34.43 and a 12 month high of $48.95.

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

Barrett Business Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be issued a dividend of $0.08 per share. The ex-dividend date is 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%.

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.