Longboard Asset Management LP Makes New $217,000 Investment in Barrett Business Services, Inc. (NASDAQ:BBSI)

Longboard Asset Management LP bought a new position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 4,984 shares of the business services provider’s stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds also recently modified their holdings of BBSI. Truvestments Capital LLC acquired a new stake in shares of Barrett Business Services during the third quarter worth about $34,000. Westside Investment Management Inc. bought a new stake in Barrett Business Services during the 3rd quarter worth approximately $34,000. Huntington National Bank acquired a new stake in Barrett Business Services during the 3rd quarter worth approximately $39,000. USA Financial Formulas bought a new position in Barrett Business Services in the third quarter valued at approximately $60,000. Finally, Quantbot Technologies LP bought a new position in Barrett Business Services in the third quarter valued at approximately $77,000. 86.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BBSI. StockNews.com raised shares of Barrett Business Services from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Roth Mkm lifted their price target 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 restated an “outperform” rating and issued a $45.00 price target on shares of Barrett Business Services in a report on Wednesday, December 11th.

Barrett Business Services Stock Performance

BBSI opened at $42.80 on Tuesday. The business’s 50-day simple moving average is $43.16 and its 200 day simple moving average is $39.20. Barrett Business Services, Inc. has a 52-week low of $27.06 and a 52-week high of $44.97. The firm has a market capitalization of $1.11 billion, a PE ratio of 22.59, a PEG ratio of 1.31 and a beta of 1.41.

Insider Activity

In other news, Director Thomas J. Carley sold 4,584 shares of Barrett Business Services stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 in the company, valued at approximately $3,778,738.72. The trade was a 4.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas B. Cusick sold 3,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $43.41, for a total value of $130,230.00. Following the completion of the sale, the director now owns 27,776 shares in the company, valued at approximately $1,205,756.16. This trade represents a 9.75 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

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.