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Barrett Business Services, Inc. (BBSI): Hedge Funds and Insiders Are Bullish, What Should You Do?

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Barrett Business Services, Inc. (NASDAQ:BBSI) was in 14 hedge funds’ portfolio at the end of March. BBSI shareholders have witnessed an increase in hedge fund interest recently. There were 12 hedge funds in our database with BBSI positions at the end of the previous quarter.

Barrett Business Services, Inc. (NASDAQ:BBSI)

In today’s marketplace, there are a multitude of gauges investors can use to track publicly traded companies. A duo of the most underrated are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the best money managers can outclass their index-focused peers by a very impressive amount (see just how much).

Equally as integral, bullish insider trading activity is a second way to break down the marketplace. There are a number of incentives for a bullish insider to cut shares of his or her company, but only one, very simple reason why they would behave bullishly. Many empirical studies have demonstrated the useful potential of this strategy if piggybackers know where to look (learn more here).

Now, let’s take a glance at the latest action regarding Barrett Business Services, Inc. (NASDAQ:BBSI).

Hedge fund activity in Barrett Business Services, Inc. (NASDAQ:BBSI)

At Q1’s end, a total of 14 of the hedge funds we track were long in this stock, a change of 17% from the first quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were upping their holdings substantially.

When looking at the hedgies we track, Jim Simons’s Renaissance Technologies had the largest position in Barrett Business Services, Inc. (NASDAQ:BBSI), worth close to $10.5 million, accounting for less than 0.1%% of its total 13F portfolio. Sitting at the No. 2 spot is Royce & Associates, managed by Chuck Royce, which held a $8.5 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Some other peers that hold long positions include Richard Driehaus’s Driehaus Capital, Peter Algert and Kevin Coldiron’s Algert Coldiron Investors and Andy Redleaf’s Whitebox Advisors.

With a general bullishness amongst the heavyweights, specific money managers were breaking ground themselves. Hutchin Hill Capital, managed by Neil Chriss, established the biggest position in Barrett Business Services, Inc. (NASDAQ:BBSI). Hutchin Hill Capital had 0.5 million invested in the company at the end of the quarter. Mike Vranos’s Ellington also made a $0.4 million investment in the stock during the quarter. The only other fund with a brand new BBSI position is Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners.

What do corporate executives and insiders think about Barrett Business Services, Inc. (NASDAQ:BBSI)?

Bullish insider trading is particularly usable when the primary stock in question has seen transactions within the past 180 days. Over the latest six-month time frame, Barrett Business Services, Inc. (NASDAQ:BBSI) has seen 1 unique insiders buying, and 4 insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to Barrett Business Services, Inc. (NASDAQ:BBSI). These stocks are Kelly Services, Inc. (NASDAQ:KELYA), DICE HOLDINGS, INC. (NYSE:DHX), Kforce Inc. (NASDAQ:KFRC), Heidrick & Struggles International, Inc. (NASDAQ:HSII), and CDI Corp. (NYSE:CDI). This group of stocks are in the staffing & outsourcing services industry and their market caps match BBSI’s market cap.

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