Hillsdale Investment Management Inc. Sells 102,580 Shares of Barrett Business Services, Inc. $BBSI

Hillsdale Investment Management Inc. decreased its holdings in Barrett Business Services, Inc. (NASDAQ:BBSI) by 65.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,700 shares of the business services provider’s stock after selling 102,580 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Barrett Business Services were worth $2,239,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mackenzie Financial Corp increased its stake in Barrett Business Services by 4.1% in the first quarter. Mackenzie Financial Corp now owns 21,874 shares of the business services provider’s stock valued at $900,000 after acquiring an additional 855 shares during the period. Brio Consultants LLC bought a new position in Barrett Business Services during the first quarter worth about $284,000. US Bancorp DE lifted its stake in Barrett Business Services by 3,939.3% during the first quarter. US Bancorp DE now owns 4,524 shares of the business services provider’s stock worth $186,000 after purchasing an additional 4,412 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Barrett Business Services by 26.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,309 shares of the business services provider’s stock valued at $95,000 after purchasing an additional 482 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Barrett Business Services by 80.1% in the 1st quarter. Deutsche Bank AG now owns 50,122 shares of the business services provider’s stock valued at $2,063,000 after purchasing an additional 22,291 shares during the period. 86.76% of the stock is owned by institutional investors.

Barrett Business Services Stock Up 1.9%

NASDAQ BBSI opened at $34.86 on Friday. The firm has a market cap of $893.29 million, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.31 and a beta of 1.00. Barrett Business Services, Inc. has a one year low of $33.01 and a one year high of $49.65. The stock’s 50 day simple moving average is $41.31 and its 200 day simple moving average is $43.10. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.25 and a quick ratio of 1.25.

Barrett Business Services (NASDAQ:BBSI) last issued its quarterly earnings data on Wednesday, November 5th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.02). The business had revenue of $318.95 million during the quarter, compared to the consensus estimate of $319.27 million. Barrett Business Services had a net margin of 4.49% and a return on equity of 24.59%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 EPS. As a group, sell-side analysts forecast that Barrett Business Services, Inc. will post 2 earnings per share for the current fiscal year.

Barrett Business Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 21st will be given a dividend of $0.08 per share. The ex-dividend date is Friday, November 21st. This represents a $0.32 annualized dividend and a yield of 0.9%. Barrett Business Services’s dividend payout ratio is 15.38%.

Insider Activity at Barrett Business Services

In related news, Director Joseph Stephen Clabby bought 1,000 shares of Barrett Business Services stock in a transaction dated Tuesday, November 11th. The shares were bought at an average cost of $34.83 per share, for a total transaction of $34,830.00. Following the completion of the transaction, the director owned 15,391 shares of the company’s stock, valued at approximately $536,068.53. This trade represents a 6.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gary Kramer sold 80,000 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $48.35, for a total transaction of $3,868,000.00. Following the sale, the chief executive officer directly owned 287,040 shares in the company, valued at $13,878,384. This trade represents a 21.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 94,728 shares of company stock worth $4,548,811 in the last quarter. Insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on BBSI. Wall Street Zen downgraded Barrett Business Services from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Barrett Business Services in a research note on Monday, November 17th. Finally, Barrington Research set a $46.00 price objective on Barrett Business Services and gave the company an “outperform” rating in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Barrett Business Services presently has a consensus rating of “Buy” and a consensus target price of $46.00.

Barrett Business Services Profile

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.