Virtus Fund Advisers LLC Sells 1,150 Shares of Barrett Business Services, Inc. (NASDAQ:BBSI)

Virtus Fund Advisers LLC decreased its position in Barrett Business Services, Inc. (NASDAQ:BBSI) by 23.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,678 shares of the business services provider’s stock after selling 1,150 shares during the period. Barrett Business Services accounts for 0.6% of Virtus Fund Advisers LLC’s portfolio, making the stock its 17th largest position. Virtus Fund Advisers LLC’s holdings in Barrett Business Services were worth $138,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Verition Fund Management LLC bought a new position in shares of Barrett Business Services in the 3rd quarter valued at about $246,000. Martingale Asset Management L P lifted its holdings in Barrett Business Services by 5.9% in the third quarter. Martingale Asset Management L P now owns 52,178 shares of the business services provider’s stock valued at $1,957,000 after buying an additional 2,904 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Barrett Business Services by 81.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,955 shares of the business services provider’s stock valued at $223,000 after acquiring an additional 2,675 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Barrett Business Services by 5.8% in the third quarter. BNP Paribas Financial Markets now owns 12,310 shares of the business services provider’s stock valued at $462,000 after acquiring an additional 679 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Barrett Business Services during the 3rd quarter worth $77,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BBSI. StockNews.com raised Barrett Business Services from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Roth Mkm increased their target price on 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 target price on Barrett Business Services from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th.

Barrett Business Services Stock Performance

BBSI opened at $43.54 on Friday. The firm’s fifty day moving average is $39.36 and its two-hundred day moving average is $36.10. The firm has a market cap of $1.13 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 1.45 and a beta of 1.42. Barrett Business Services, Inc. has a twelve month low of $27.06 and a twelve month high of $44.39.

Barrett Business Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.73%. The ex-dividend date is Friday, November 22nd. Barrett Business Services’s payout ratio is presently 16.89%.

Insiders Place Their Bets

In other news, Director Thomas J. Carley sold 4,584 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.24, for a total transaction of $189,044.16. Following the completion of the sale, the director now owns 91,628 shares of the company’s stock, valued at $3,778,738.72. This represents a 4.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas B. Cusick sold 3,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $43.41, for a total transaction of $130,230.00. Following the sale, the director now owns 27,776 shares in the company, valued at approximately $1,205,756.16. The trade was a 9.75 % 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.

Barrett Business Services Company 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.