GAMMA Investing LLC Increases Stock Holdings in Barrett Business Services, Inc. (NASDAQ:BBSI)

GAMMA Investing LLC increased its holdings in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 5,807.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,934 shares of the business services provider’s stock after buying an additional 11,732 shares during the quarter. GAMMA Investing LLC’s holdings in Barrett Business Services were worth $491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prudent Man Investment Management Inc. purchased a new position in Barrett Business Services during the 4th quarter worth $35,000. KLP Kapitalforvaltning AS purchased a new position in Barrett Business Services during the 4th quarter worth $209,000. Two Sigma Securities LLC purchased a new position in Barrett Business Services during the 4th quarter worth $218,000. Brevan Howard Capital Management LP grew its stake in Barrett Business Services by 10.8% during the 4th quarter. Brevan Howard Capital Management LP now owns 6,773 shares of the business services provider’s stock worth $294,000 after buying an additional 660 shares during the last quarter. Finally, First Trust Advisors LP acquired a new stake in Barrett Business Services during the 4th quarter worth about $298,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Barrett Business Services Stock Up 0.6%

Shares of BBSI stock opened at $41.41 on Friday. The stock has a market cap of $1.06 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 1.41 and a beta of 1.00. The business has a 50-day simple moving average of $41.25 and a 200-day simple moving average of $41.67. 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 (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.09. The business had revenue of $292.60 million during the quarter, compared to analysts’ expectations of $285.91 million. Barrett Business Services had a return on equity of 24.55% and a net margin of 4.45%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) EPS. 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 business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were issued a $0.08 dividend. The ex-dividend date was Friday, May 23rd. This represents a $0.32 annualized dividend and a dividend yield of 0.77%. Barrett Business Services’s dividend payout ratio (DPR) is presently 16.41%.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director Anthony Meeker sold 7,380 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 55,504 shares of the company’s stock, valued at approximately $2,338,938.56. This represents a 11.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas J. Carley sold 12,354 shares of the company’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $42.60, for a total value of $526,280.40. Following the completion of the transaction, the director now directly owns 91,628 shares of the company’s stock, valued at $3,903,352.80. The trade was a 11.88% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

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.