Corient Private Wealth LP Buys Shares of 35,609 Barrett Business Services, Inc. $BBSI

Corient Private Wealth LP acquired a new position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 35,609 shares of the business services provider’s stock, valued at approximately $1,265,000. Corient Private Wealth LP owned about 0.15% of Barrett Business Services as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the stock. Kestra Advisory Services LLC acquired a new stake in shares of Barrett Business Services in the fourth quarter worth approximately $39,000. Bard Associates Inc. acquired a new stake in Barrett Business Services during the fourth quarter valued at approximately $50,000. Farther Finance Advisors LLC lifted its position in shares of Barrett Business Services by 63.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,456 shares of the business services provider’s stock worth $53,000 after buying an additional 563 shares during the last quarter. Tripletail Wealth Management LLC boosted its position in Barrett Business Services by 152.6% during the 4th quarter. Tripletail Wealth Management LLC now owns 1,920 shares of the business services provider’s stock valued at $70,000 after purchasing an additional 1,160 shares during the period. Finally, GAMMA Investing LLC grew its position in Barrett Business Services by 131.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,206 shares of the business services provider’s stock worth $78,000 after purchasing an additional 1,251 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Activity at Barrett Business Services

In other news, Director Anthony Meeker sold 12,000 shares of Barrett Business Services stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $37.85, for a total value of $454,200.00. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Potts sold 3,490 shares of the company’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $38.00, for a total transaction of $132,620.00. Following the sale, the executive vice president directly owned 32,035 shares of the company’s stock, valued at $1,217,330. This represents a 9.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 20,779 shares of company stock worth $786,233 over the last ninety days. Insiders own 4.80% of the company’s stock.

Barrett Business Services Stock Up 0.2%

Shares of BBSI opened at $33.91 on Friday. The stock has a market capitalization of $821.98 million, a P/E ratio of 24.93, a P/E/G ratio of 1.26 and a beta of 0.92. Barrett Business Services, Inc. has a twelve month low of $25.33 and a twelve month high of $49.65. The company has a 50 day moving average of $36.40 and a 200-day moving average of $32.61.

Barrett Business Services (NASDAQ:BBSI) last released its quarterly earnings data on Wednesday, August 5th. The business services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.04). Barrett Business Services had a net margin of 2.77% and a return on equity of 20.95%. The company had revenue of $319.27 million during the quarter, compared to analyst estimates of $321.55 million. On average, sell-side analysts anticipate that Barrett Business Services, Inc. will post 1.68 earnings per share for the current fiscal year.

Barrett Business Services Announces Dividend

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

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.