Rhumbline Advisers Sells 9,087 Shares of Barrett Business Services, Inc. (NASDAQ:BBSI)

Rhumbline Advisers reduced its stake in Barrett Business Services, Inc. (NASDAQ:BBSI) by 19.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,020 shares of the business services provider’s stock after selling 9,087 shares during the quarter. Rhumbline Advisers owned approximately 0.14% of Barrett Business Services worth $1,523,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Prudent Man Investment Management Inc. bought a new position in Barrett Business Services in the 4th quarter worth $35,000. KLP Kapitalforvaltning AS bought a new position in Barrett Business Services in the 4th quarter worth $209,000. Two Sigma Securities LLC bought a new position in Barrett Business Services in the 4th quarter worth $218,000. Brevan Howard Capital Management LP raised its holdings in Barrett Business Services by 10.8% during 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 during the period. Finally, First Trust Advisors LP bought a new stake in Barrett Business Services during the fourth quarter valued at about $298,000. 86.76% of the stock is owned by institutional investors.

Barrett Business Services Stock Up 0.6%

NASDAQ:BBSI opened at $41.41 on Thursday. The business’s 50-day simple moving average is $41.21 and its two-hundred day simple moving average is $41.68. The stock has a market cap of $1.06 billion, a PE ratio of 21.24, a P/E/G ratio of 1.40 and a beta of 1.00. Barrett Business Services, Inc. has a 52 week low of $31.77 and a 52 week high of $44.97.

Barrett Business Services (NASDAQ:BBSI) last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.09. The firm had revenue of $292.60 million during the quarter, compared to analyst estimates of $285.91 million. Barrett Business Services had a return on equity of 24.55% and a net margin of 4.45%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.01) earnings per share. Sell-side analysts anticipate that Barrett Business Services, Inc. will post 2 earnings per share for the current fiscal year.

Barrett Business Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were given a dividend of $0.08 per share. The ex-dividend date was Friday, May 23rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.77%. Barrett Business Services’s payout ratio is 16.41%.

Insider Activity

In other news, Director Anthony Meeker sold 7,380 shares of the firm’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $42.14, for a total transaction of $310,993.20. Following the completion of the transaction, the director now owns 55,504 shares in the company, valued at $2,338,938.56. This trade represents a 11.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas J. Carley sold 12,354 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $42.60, for a total value of $526,280.40. Following the sale, the director now directly owns 91,628 shares in the company, valued at $3,903,352.80. The trade was a 11.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

BBSI has been the topic of a number of recent analyst reports. Wall Street Zen cut Barrett Business Services from a “strong-buy” rating to a “hold” rating in a report on Friday, May 16th. Barrington Research reissued an “outperform” rating and set a $45.00 price target on shares of Barrett Business Services in a report on Tuesday, May 6th.

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.