Sanctuary Advisors LLC Makes New $122,000 Investment in Barrett Business Services, Inc. (NASDAQ:BBSI)

Sanctuary Advisors LLC acquired a new position in Barrett Business Services, Inc. (NASDAQ:BBSI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,723 shares of the business services provider’s stock, valued at approximately $122,000.

A number of other large investors have also recently made changes to their positions in BBSI. Aristides Capital LLC raised its stake in Barrett Business Services by 282.2% during the 2nd quarter. Aristides Capital LLC now owns 8,344 shares of the business services provider’s stock worth $273,000 after acquiring an additional 6,161 shares during the period. EP Wealth Advisors LLC purchased a new stake in shares of Barrett Business Services in the second quarter worth $758,000. Ironwood Investment Management LLC raised its position in shares of Barrett Business Services by 155.0% during the 2nd quarter. Ironwood Investment Management LLC now owns 87,856 shares of the business services provider’s stock valued at $2,879,000 after purchasing an additional 53,405 shares during the period. Pacific Ridge Capital Partners LLC lifted its stake in shares of Barrett Business Services by 259.8% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 378,786 shares of the business services provider’s stock valued at $12,413,000 after buying an additional 273,516 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Barrett Business Services by 212.7% in the 2nd quarter. Mackenzie Financial Corp now owns 12,387 shares of the business services provider’s stock worth $406,000 after buying an additional 8,426 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barrington Research boosted their price objective on Barrett Business Services from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Roth Mkm upped their price target on Barrett Business Services from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st.

Insiders Place Their Bets

In other news, CEO Gary Kramer sold 805 shares of Barrett Business Services stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $35.00, for a total value of $28,175.00. Following the completion of the transaction, the chief executive officer now owns 276,831 shares in the company, valued at approximately $9,689,085. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 35,133 shares of company stock valued at $1,231,357 over the last ninety days. 3.70% of the stock is owned by insiders.

Barrett Business Services Trading Down 1.6 %

NASDAQ:BBSI opened at $36.93 on Tuesday. The business’s 50-day moving average is $36.33 and its 200 day moving average is $33.89. Barrett Business Services, Inc. has a 12 month low of $21.59 and a 12 month high of $38.07. The company has a market capitalization of $966.35 million, a P/E ratio of 20.29, a P/E/G ratio of 1.24 and a beta of 1.38.

Barrett Business Services (NASDAQ:BBSI) last posted its earnings results on Wednesday, July 31st. The business services provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $279.60 million during the quarter, compared to the consensus estimate of $273.13 million. Barrett Business Services had a return on equity of 25.69% and a net margin of 4.50%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 EPS. On average, research analysts forecast that Barrett Business Services, Inc. will post 1.99 earnings per share for the current year.

Barrett Business Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.32 annualized dividend and a yield of 0.87%. This is a positive change from Barrett Business Services’s previous quarterly dividend of $0.08. Barrett Business Services’s dividend payout ratio (DPR) is currently 17.58%.

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.