Private Capital Management LLC Has $44 Million Holdings in Barrett Business Services, Inc. (NASDAQ:BBSI)

Private Capital Management LLC lowered its stake in Barrett Business Services, Inc. (NASDAQ:BBSI) by 6.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,172,899 shares of the business services provider’s stock after selling 87,533 shares during the quarter. Barrett Business Services comprises approximately 8.8% of Private Capital Management LLC’s investment portfolio, making the stock its 5th biggest holding. Private Capital Management LLC owned 4.52% of Barrett Business Services worth $43,995,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Global Investments lifted its position in Barrett Business Services by 1.5% in the 3rd quarter. Summit Global Investments now owns 24,456 shares of the business services provider’s stock valued at $917,000 after acquiring an additional 352 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Barrett Business Services by 5.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,310 shares of the business services provider’s stock valued at $462,000 after purchasing an additional 679 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Barrett Business Services by 1.7% in the third quarter. Franklin Resources Inc. now owns 42,790 shares of the business services provider’s stock valued at $1,590,000 after purchasing an additional 704 shares in the last quarter. Truvestments Capital LLC acquired a new position in shares of Barrett Business Services during the third quarter worth about $34,000. Finally, Westside Investment Management Inc. bought a new position in shares of Barrett Business Services during the third quarter worth about $34,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

BBSI has been the topic of several research reports. Roth Mkm boosted their target price on Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. StockNews.com downgraded shares of Barrett Business Services from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Barrington Research restated an “outperform” rating and set a $45.00 target price on shares of Barrett Business Services in a report on Wednesday, December 11th.

Insider Activity at Barrett Business Services

In other Barrett Business Services news, Director Thomas B. Cusick sold 3,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $43.41, for a total transaction of $130,230.00. Following the sale, the director now directly owns 27,776 shares of the company’s stock, valued at approximately $1,205,756.16. This represents a 9.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.70% of the stock is owned by company insiders.

Barrett Business Services Stock Performance

Shares of NASDAQ BBSI opened at $40.29 on Friday. The stock has a 50 day moving average price of $42.64 and a 200 day moving average price of $39.95. The stock has a market capitalization of $1.05 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 1.21 and a beta of 1.41. Barrett Business Services, Inc. has a 52 week low of $28.42 and a 52 week high of $44.97.

Barrett Business Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, March 14th. Barrett Business Services’s payout ratio is presently 16.93%.

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.