Corient Private Wealth LP Makes New Investment in Barrett Business Services, Inc. $BBSI

Corient Private Wealth LP bought a new stake in Barrett Business Services, Inc. (NASDAQ:BBSI) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 35,609 shares of the business services provider’s stock, valued at approximately $1,265,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Barrett Business Services during the 2nd quarter worth approximately $72,793,000. Mawer Investment Management Ltd. lifted its position in Barrett Business Services by 0.7% in the 4th quarter. Mawer Investment Management Ltd. now owns 1,964,053 shares of the business services provider’s stock worth $71,118,000 after buying an additional 13,331 shares during the last quarter. Private Capital Management LLC grew its stake in shares of Barrett Business Services by 1.2% during the fourth quarter. Private Capital Management LLC now owns 999,371 shares of the business services provider’s stock valued at $36,187,000 after buying an additional 12,117 shares during the last quarter. Royce & Associates LP increased its stake in shares of Barrett Business Services by 31.6% in the fourth quarter. Royce & Associates LP now owns 870,863 shares of the business services provider’s stock worth $31,534,000 after buying an additional 208,865 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Barrett Business Services by 15.3% in the 4th quarter. Wellington Management Group LLP now owns 821,560 shares of the business services provider’s stock worth $29,749,000 after buying an additional 109,069 shares during the period. 86.76% of the stock is owned by institutional investors.

Barrett Business Services Stock Performance

Shares of Barrett Business Services stock opened at $33.91 on Friday. Barrett Business Services, Inc. has a one year low of $25.33 and a one year high of $49.65. The company has a 50-day simple moving average of $36.40 and a two-hundred day simple moving average of $32.61. The company has a market capitalization of $821.98 million, a PE ratio of 24.93, a P/E/G ratio of 1.26 and a beta of 0.92.

Barrett Business Services (NASDAQ:BBSI) last announced its earnings results on Wednesday, August 5th. The business services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.04). The business had revenue of $319.27 million for the quarter, compared to analysts’ expectations of $321.55 million. Barrett Business Services had a return on equity of 20.95% and a net margin of 2.77%. On average, equities analysts predict that Barrett Business Services, Inc. will post 1.68 earnings per share for the current fiscal year.

Barrett Business Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, August 21st were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, August 21st. Barrett Business Services’s dividend payout ratio (DPR) is 23.53%.

Insider Activity at Barrett Business Services

In other Barrett Business Services news, EVP James Potts sold 3,490 shares of the business’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 transaction, the executive vice president directly owned 32,035 shares of the company’s stock, valued at approximately $1,217,330. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anthony Meeker sold 12,000 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $37.85, for a total transaction of $454,200.00. Following the sale, the director directly owned 44,945 shares in the company, valued at approximately $1,701,168.25. The trade was a 21.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 20,779 shares of company stock valued at $786,233. 4.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BBSI shares. Citigroup reaffirmed an “outperform” rating on shares of Barrett Business Services in a research note on Thursday, August 6th. Barrington Research set a $44.00 price target on shares of Barrett Business Services in a research report on Thursday, August 6th. Wall Street Zen raised shares of Barrett Business Services from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Roth Capital downgraded Barrett Business Services from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $42.00 to $38.00 in a research report on Thursday, August 6th. Finally, Zacks Research lowered Barrett Business Services from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Barrett Business Services currently has an average rating of “Moderate Buy” and an average price target of $41.00.

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.