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 its most recent filing with the SEC. The institutional investor owned 3,678 shares of the business services provider’s stock after selling 1,150 shares during the period. Barrett Business Services comprises 0.6% of Virtus Fund Advisers LLC’s portfolio, making the stock its 17th biggest 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 large investors have also recently bought and sold shares of the company. CWM LLC lifted its position in shares of Barrett Business Services by 12,014.3% in the second quarter. CWM LLC now owns 848 shares of the business services provider’s stock worth $28,000 after purchasing an additional 841 shares in the last quarter. Amalgamated Bank increased its stake in Barrett Business Services by 300.0% in the 2nd quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock valued at $31,000 after buying an additional 702 shares during the last quarter. Truvestments Capital LLC acquired a new stake in Barrett Business Services in the 3rd quarter valued at $34,000. Huntington National Bank bought a new stake in Barrett Business Services during the 3rd quarter worth about $39,000. Finally, USA Financial Formulas acquired a new position in shares of Barrett Business Services during the 3rd quarter worth about $60,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Insider Transactions at Barrett Business Services

In other Barrett Business Services news, Director Thomas J. Carley sold 4,584 shares of Barrett Business Services 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 transaction, the director now directly owns 91,628 shares of the company’s stock, valued at $3,778,738.72. The trade was a 4.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph Stephen Clabby acquired 1,635 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was bought at an average cost of $43.01 per share, for a total transaction of $70,321.35. Following the completion of the transaction, the director now directly owns 11,327 shares of the company’s stock, valued at approximately $487,174.27. This trade represents a 16.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

BBSI has been the topic of a number of recent research reports. StockNews.com raised Barrett Business Services from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Barrington Research boosted their price target 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. Finally, Roth Mkm increased their price objective on Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Barrett Business Services Stock Performance

Shares of NASDAQ:BBSI opened at $43.54 on Friday. Barrett Business Services, Inc. has a 52-week low of $27.06 and a 52-week high of $44.39. The company has a market capitalization of $1.13 billion, a P/E ratio of 22.98, a price-to-earnings-growth ratio of 1.45 and a beta of 1.42. The company has a 50-day simple moving average of $39.36 and a 200 day simple moving average of $36.10.

Barrett Business Services Dividend Announcement

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

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.