GSA Capital Partners LLP Acquires New Holdings in Barrett Business Services, Inc. $BBSI

GSA Capital Partners LLP bought a new position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) in the second quarter, Holdings Channel reports. The firm bought 67,587 shares of the business services provider’s stock, valued at approximately $2,401,000.

A number of other institutional investors also recently modified their holdings of BBSI. Kestra Advisory Services LLC acquired a new stake in shares of Barrett Business Services in the fourth quarter worth $39,000. Bard Associates Inc. bought a new position in Barrett Business Services in the 4th quarter worth $50,000. Farther Finance Advisors LLC raised its holdings in Barrett Business Services by 63.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,456 shares of the business services provider’s stock worth $53,000 after acquiring an additional 563 shares during the period. Tripletail Wealth Management LLC lifted its position in Barrett Business Services by 152.6% during the 4th quarter. Tripletail Wealth Management LLC now owns 1,920 shares of the business services provider’s stock worth $70,000 after acquiring an additional 1,160 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Barrett Business Services by 131.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,206 shares of the business services provider’s stock worth $78,000 after acquiring an additional 1,251 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Roth Capital downgraded Barrett Business Services from a “buy” rating to a “neutral” rating and lowered their price target for the company from $42.00 to $38.00 in a research report on Thursday, August 6th. Citigroup reissued an “outperform” rating on shares of Barrett Business Services in a research report on Thursday, August 6th. Zacks Research downgraded Barrett Business Services from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Weiss Ratings raised Barrett Business Services from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 13th. Finally, Barrington Research set a $44.00 price target on Barrett Business Services in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Barrett Business Services Stock Performance

NASDAQ:BBSI opened at $32.24 on Friday. The firm’s 50-day moving average is $36.46 and its 200-day moving average is $32.88. Barrett Business Services, Inc. has a 52-week low of $25.33 and a 52-week high of $49.65. The company has a market cap of $781.34 million, a price-to-earnings ratio of 23.71, a PEG ratio of 1.20 and a beta of 0.94.

Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings data on Wednesday, August 5th. The business services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.04). Barrett Business Services had a net margin of 2.77% and a return on equity of 20.95%. The company had revenue of $319.27 million for the quarter, compared to analyst estimates of $321.55 million. Equities analysts predict that Barrett Business Services, Inc. will post 1.68 EPS for the current year.

Barrett Business Services Dividend Announcement

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

Insider Activity at Barrett Business Services

In other Barrett Business Services news, EVP James R. Potts sold 3,490 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $38.00, for a total value of $132,620.00. Following the completion of the sale, the executive vice president owned 32,035 shares in the company, valued at approximately $1,217,330. This trade represents a 9.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anthony Meeker sold 12,000 shares of Barrett Business Services stock in a transaction that occurred 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 directly owned 44,945 shares in the company, valued at $1,701,168.25. The trade was a 21.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 20,779 shares of company stock valued at $786,233. Insiders own 4.80% of the company’s stock.

About Barrett Business Services

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.