Victory Capital Management Inc. Decreases Stake in Barrett Business Services, Inc. (NASDAQ:BBSI)

Victory Capital Management Inc. trimmed its holdings in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 62.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,571 shares of the business services provider's stock after selling 32,183 shares during the quarter. Victory Capital Management Inc. owned 0.08% of Barrett Business Services worth $805,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Two Sigma Advisers LP increased its holdings in Barrett Business Services by 4.5% during the 4th quarter. Two Sigma Advisers LP now owns 6,900 shares of the business services provider's stock worth $300,000 after purchasing an additional 300 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of Barrett Business Services by 1.4% during the 1st quarter. SummerHaven Investment Management LLC now owns 23,827 shares of the business services provider's stock valued at $980,000 after buying an additional 332 shares during the last quarter. Perkins Coie Trust Co grew its position in shares of Barrett Business Services by 10.0% during the first quarter. Perkins Coie Trust Co now owns 4,400 shares of the business services provider's stock worth $181,000 after buying an additional 400 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 buying an additional 509 shares during the last quarter. Finally, Brevan Howard Capital Management LP raised its holdings in Barrett Business Services by 10.8% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

Insider Activity at Barrett Business Services

In other news, COO Gerald Blotz sold 13,327 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $42.71, for a total transaction of $569,196.17. Following the sale, the chief operating officer directly owned 209,096 shares in the company, valued at approximately $8,930,490.16. This represents a 5.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anthony Meeker sold 7,380 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $42.14, for a total value of $310,993.20. Following the completion of the sale, the director directly owned 55,504 shares in the company, valued at approximately $2,338,938.56. This trade represents a 11.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,061 shares of company stock valued at $1,406,470 in the last quarter. Insiders own 4.10% of the company's stock.

Barrett Business Services Trading Down 4.2%

Shares of BBSI opened at $44.04 on Friday. Barrett Business Services, Inc. has a 52 week low of $31.77 and a 52 week high of $46.90. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 1.56 and a beta of 1.02. The stock has a 50 day moving average of $42.81 and a 200-day moving average of $41.79.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The business services provider reported ($0.04) EPS for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the company posted ($0.01) earnings per share. The firm's revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts predict that Barrett Business Services, Inc. will post 2 earnings per share for the current fiscal year.

Barrett Business Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, May 23rd. Barrett Business Services's dividend payout ratio is currently 16.41%.

Wall Street Analyst Weigh In

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

Barrett Business Services 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.

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