Polaris Capital Management LLC Cuts Position in Barrett Business Services, Inc. (NASDAQ:BBSI)

Polaris Capital Management LLC cut its stake in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 21.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,000 shares of the business services provider's stock after selling 16,400 shares during the quarter. Polaris Capital Management LLC owned approximately 0.23% of Barrett Business Services worth $2,563,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Truvestments Capital LLC acquired a new position in shares of Barrett Business Services during the third quarter worth about $34,000. Westside Investment Management Inc. acquired a new position in shares of Barrett Business Services during the third quarter worth about $34,000. Huntington National Bank purchased a new stake in Barrett Business Services during the third quarter worth approximately $39,000. Quantbot Technologies LP purchased a new position in Barrett Business Services in the third quarter valued at approximately $77,000. Finally, Sanctuary Advisors LLC purchased a new position in Barrett Business Services in the second quarter valued at approximately $122,000. 86.76% of the stock is owned by institutional investors and hedge funds.

Barrett Business Services Price Performance

Shares of BBSI stock traded down $0.63 during trading hours on Friday, hitting $41.90. The stock had a trading volume of 38,321 shares, compared to its average volume of 84,702. The firm has a market capitalization of $1.09 billion, a PE ratio of 22.14, a PEG ratio of 1.31 and a beta of 1.41. Barrett Business Services, Inc. has a twelve month low of $27.85 and a twelve month high of $44.97. The stock's 50 day moving average is $43.11 and its 200 day moving average is $39.55.

Insider Activity

In other news, Director Thomas J. Carley sold 4,584 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.24, for a total value of $189,044.16. Following the completion of the sale, the director now directly owns 91,628 shares of the company's stock, valued at approximately $3,778,738.72. This represents a 4.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas B. Cusick sold 3,000 shares of the stock in a transaction that occurred 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 directly owns 27,776 shares of the company's stock, valued at $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.

Analyst Ratings Changes

BBSI has been the topic of several recent analyst reports. Barrington Research reiterated an "outperform" rating and issued a $45.00 price target on shares of Barrett Business Services in a research note on Wednesday, December 11th. StockNews.com upgraded shares of Barrett Business Services from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. Finally, Roth Mkm increased their price target 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.

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.