Grandeur Peak Global Advisors LLC Invests $10.85 Million in Barrett Business Services, Inc. $BBSI

Grandeur Peak Global Advisors LLC purchased a new position in Barrett Business Services, Inc. (NASDAQ:BBSI) during the second quarter, HoldingsChannel reports. The firm purchased 32,570 shares of the business services provider’s stock, valued at approximately $10,847,000. Barrett Business Services accounts for approximately 2.1% of Grandeur Peak Global Advisors LLC’s portfolio, making the stock its 11th biggest holding.

Several other institutional investors also recently bought and sold shares of the company. Corient Private Wealth LP bought a new stake in Barrett Business Services during the 2nd quarter valued at about $1,265,000. Bank of America Corp DE purchased a new position in Barrett Business Services in the second quarter worth about $2,333,000. Polar Asset Management Partners Inc. bought a new position in shares of Barrett Business Services in the second quarter worth approximately $7,804,000. Jupiter Topco LLC bought a new position in shares of Barrett Business Services in the second quarter worth approximately $454,000. Finally, Legal & General Group Plc purchased a new stake in shares of Barrett Business Services during the second quarter valued at approximately $1,021,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Barrett Business Services Trading Up 0.5%

Shares of BBSI opened at $34.15 on Friday. The firm has a fifty day simple moving average of $36.39 and a two-hundred day simple moving average of $32.58. The firm has a market cap of $827.63 million, a PE ratio of 25.11, a P/E/G ratio of 1.26 and a beta of 0.94. Barrett Business Services, Inc. has a 1-year low of $25.33 and a 1-year high of $49.65.

Barrett Business Services (NASDAQ:BBSI) last released its quarterly earnings results on Wednesday, August 5th. The business services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.04). The firm had revenue of $319.27 million during 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%. As a group, research analysts forecast that Barrett Business Services, Inc. will post 1.68 EPS for the current fiscal year.

Barrett Business Services Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 0.9%. Barrett Business Services’s dividend payout ratio is currently 23.53%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Barrett Business Services

In other Barrett Business Services news, Director Anthony Meeker sold 12,000 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $37.85, for a total value of $454,200.00. Following the transaction, the director directly owned 44,945 shares of the company’s stock, valued at approximately $1,701,168.25. This trade represents a 21.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James R. Potts sold 3,490 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $38.00, for a total value of $132,620.00. Following the sale, the executive vice president owned 32,035 shares of the company’s stock, valued at approximately $1,217,330. This represents a 9.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 20,779 shares of company stock worth $786,233. 4.80% of the stock is owned by corporate insiders.

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.