IndexIQ Advisors LLC Sells 3,328 Shares of Barrett Business Services, Inc. (NASDAQ:BBSI)

IndexIQ Advisors LLC lowered its position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 24.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,489 shares of the business services provider’s stock after selling 3,328 shares during the quarter. IndexIQ Advisors LLC owned about 0.14% of Barrett Business Services worth $949,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of BBSI. FMR LLC lifted its holdings in shares of Barrett Business Services by 13.7% during the first quarter. FMR LLC now owns 173,432 shares of the business services provider’s stock worth $13,411,000 after buying an additional 20,901 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Barrett Business Services by 63.7% during the second quarter. Bank of America Corp DE now owns 7,193 shares of the business services provider’s stock worth $594,000 after buying an additional 2,799 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Barrett Business Services during the second quarter worth $4,718,000. Royal Bank of Canada lifted its holdings in shares of Barrett Business Services by 9.8% during the second quarter. Royal Bank of Canada now owns 22,009 shares of the business services provider’s stock worth $1,818,000 after buying an additional 1,970 shares in the last quarter. Finally, Macquarie Group Ltd. acquired a new stake in shares of Barrett Business Services during the second quarter worth $50,000. 82.02% of the stock is owned by institutional investors.

A number of equities research analysts have recently weighed in on BBSI shares. Barrington Research reissued a “buy” rating and set a $110.00 target price on shares of Barrett Business Services in a report on Tuesday, December 17th. Zacks Investment Research downgraded Barrett Business Services from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. BidaskClub downgraded Barrett Business Services from a “sell” rating to a “strong sell” rating in a report on Friday. Finally, ValuEngine raised Barrett Business Services from a “strong sell” rating to a “sell” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $116.33.

In related news, COO Gerald Blotz sold 5,482 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $90.89, for a total value of $498,258.98. Following the completion of the transaction, the chief operating officer now owns 26,604 shares of the company’s stock, valued at $2,418,037.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Gary Kramer sold 486 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $88.27, for a total value of $42,899.22. Following the completion of the transaction, the vice president now directly owns 16,194 shares of the company’s stock, valued at approximately $1,429,444.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,468 shares of company stock valued at $1,297,678. 6.80% of the stock is owned by insiders.

BBSI stock opened at $82.90 on Friday. The company has a market cap of $621.35 million, a PE ratio of 11.93, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06. The business has a 50-day simple moving average of $87.23 and a 200 day simple moving average of $88.00. Barrett Business Services, Inc. has a 52 week low of $68.53 and a 52 week high of $95.64. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.14.

About Barrett Business Services

Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. The company offers professional employer services under which it enters into a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers' compensation coverage, and other administration functions for the client's existing workforce.

See Also: Compound Annual Growth Rate (CAGR)

Institutional Ownership by Quarter for Barrett Business Services (NASDAQ:BBSI)

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