Tieton Capital Management LLC Acquires New Shares in Barrett Business Services, Inc. $BBSI

Tieton Capital Management LLC bought a new stake in Barrett Business Services, Inc. (NASDAQ:BBSI) during the second quarter, HoldingsChannel.com reports. The firm bought 319,390 shares of the business services provider’s stock, valued at approximately $11,345,000. Barrett Business Services comprises about 3.3% of Tieton Capital Management LLC’s investment portfolio, making the stock its 14th largest position.

Several other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Barrett Business Services in the second quarter worth about $72,793,000. Deutsche Bank AG bought a new stake in shares of Barrett Business Services during the 2nd quarter valued at approximately $900,000. Crown Advisors Management Inc. acquired a new position in Barrett Business Services during the 2nd quarter worth approximately $2,131,000. Bank of New York Mellon Corp acquired a new position in Barrett Business Services during the 2nd quarter worth approximately $6,015,000. Finally, State of Wyoming bought a new position in Barrett Business Services in the 2nd quarter valued at approximately $157,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Insiders Place Their Bets

In other Barrett Business Services news, Director Anthony Meeker sold 12,000 shares of the company’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 sale, the director owned 44,945 shares in the company, valued at approximately $1,701,168.25. The trade was a 21.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP James R. Potts sold 3,490 shares of the company’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 completion of the sale, the executive vice president owned 32,035 shares in the company, valued at $1,217,330. This trade represents a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 20,779 shares of company stock valued at $786,233 over the last 90 days. 4.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BBSI has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of Barrett Business Services from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 13th. Zacks Research cut Barrett Business Services from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Roth Capital downgraded Barrett Business Services from a “buy” rating to a “neutral” rating and cut their price objective for the company from $42.00 to $38.00 in a report on Thursday, August 6th. Barrington Research set a $44.00 price objective on Barrett Business Services in a report on Thursday, August 6th. Finally, Citigroup restated an “outperform” rating on shares of Barrett Business Services in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Barrett Business Services currently has an average rating of “Moderate Buy” and an average target price of $41.00.

Barrett Business Services Price Performance

NASDAQ:BBSI opened at $33.09 on Thursday. Barrett Business Services, Inc. has a one year low of $25.33 and a one year high of $49.65. The company has a market cap of $802.10 million, a PE ratio of 24.33, a P/E/G ratio of 1.23 and a beta of 0.94. The firm’s 50 day simple moving average is $36.37 and its 200 day simple moving average is $32.75.

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

Barrett Business Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Friday, August 21st will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, August 21st. Barrett Business Services’s dividend payout ratio is presently 23.53%.

Barrett Business Services Profile

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.