Barrett Business Services, Inc. (NASDAQ:BBSI) Position Cut by Tieton Capital Management LLC

Tieton Capital Management LLC cut its stake in Barrett Business Services, Inc. (NASDAQ:BBSI) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 204,181 shares of the business services provider’s stock after selling 610 shares during the quarter. Barrett Business Services comprises approximately 4.0% of Tieton Capital Management LLC’s holdings, making the stock its 8th largest holding. Tieton Capital Management LLC owned approximately 0.79% of Barrett Business Services worth $7,659,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BBSI. Pacific Ridge Capital Partners LLC increased its stake in Barrett Business Services by 259.8% in the second quarter. Pacific Ridge Capital Partners LLC now owns 378,786 shares of the business services provider’s stock worth $12,413,000 after purchasing an additional 273,516 shares during the period. Ironwood Investment Management LLC increased its position in shares of Barrett Business Services by 155.0% during the second quarter. Ironwood Investment Management LLC now owns 87,856 shares of the business services provider’s stock worth $2,879,000 after acquiring an additional 53,405 shares during the period. EP Wealth Advisors LLC purchased a new stake in shares of Barrett Business Services in the second quarter valued at approximately $758,000. Dimensional Fund Advisors LP increased its holdings in Barrett Business Services by 281.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 867,708 shares of the business services provider’s stock worth $28,435,000 after purchasing an additional 640,508 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of Barrett Business Services by 155.7% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 59,324 shares of the business services provider’s stock worth $1,944,000 after buying an additional 36,120 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on BBSI. StockNews.com upgraded shares of Barrett Business Services from a “hold” rating to a “buy” rating in a report on Tuesday. Roth Mkm increased their price objective on shares of Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Barrington Research boosted their price objective on shares of Barrett Business Services from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th.

Barrett Business Services Stock Performance

Shares of Barrett Business Services stock opened at $42.76 on Friday. Barrett Business Services, Inc. has a one year low of $26.60 and a one year high of $43.29. The company has a market capitalization of $1.11 billion, a PE ratio of 22.56, a P/E/G ratio of 1.41 and a beta of 1.39. The company has a 50-day simple moving average of $38.09 and a two-hundred day simple moving average of $35.26.

Barrett Business Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.75%. Barrett Business Services’s payout ratio is 16.89%.

Insider Activity

In other news, Director Joseph Stephen Clabby purchased 1,635 shares of the stock in a transaction on Tuesday, November 12th. The stock was bought at an average price of $43.01 per share, with a total value of $70,321.35. Following the transaction, the director now owns 11,327 shares in the company, valued at $487,174.27. The trade was a 16.87 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas J. Carley sold 4,584 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $41.24, for a total value of $189,044.16. Following the completion of the transaction, the director now directly owns 91,628 shares in the company, valued at $3,778,738.72. This represents a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

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.