Do Hedge Funds and Insiders Love Barrett Business Services, Inc. (BBSI)?: Kelly Services, Inc. (KELYA), DICE HOLDINGS, INC. (DHX)

Barrett Business Services, Inc. (NASDAQ:BBSI) investors should pay attention to an increase in activity from the world’s largest hedge funds recently.

Barrett Business Services, Inc. (NASDAQ:BBSI)In the financial world, there are a multitude of gauges market participants can use to watch their holdings. Some of the most innovative are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the elite investment managers can outclass the market by a healthy margin (see just how much).

Equally as important, optimistic insider trading activity is a second way to parse down the financial markets. Obviously, there are many reasons for an executive to downsize shares of his or her company, but just one, very obvious reason why they would buy. Many empirical studies have demonstrated the useful potential of this strategy if you understand where to look (learn more here).

Now, we’re going to take a peek at the recent action surrounding Barrett Business Services, Inc. (NASDAQ:BBSI).

What does the smart money think about Barrett Business Services, Inc. (NASDAQ:BBSI)?

At year’s end, a total of 12 of the hedge funds we track were long in this stock, a change of 33% from the previous quarter. With hedgies’ capital changing hands, there exists a few key hedge fund managers who were increasing their stakes significantly.

According to our comprehensive database, Royce & Associates, managed by Chuck Royce, holds the most valuable position in Barrett Business Services, Inc. (NASDAQ:BBSI). Royce & Associates has a $6 million position in the stock, comprising 0% of its 13F portfolio. On Royce & Associates’s heels is Jim Simons of Renaissance Technologies, with a $4 million position; the fund has 0% of its 13F portfolio invested in the stock. Some other hedgies 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. Whitebox Advisors, managed by Andy Redleaf, assembled the biggest position in Barrett Business Services, Inc. (NASDAQ:BBSI). Whitebox Advisors had 1 million invested in the company at the end of the quarter. Joel Greenblatt’s Gotham Asset Management also initiated a $0 million position during the quarter. The other funds with brand new BBSI positions are Steven Cohen’s SAC Capital Advisors and Cliff Asness’s AQR Capital Management.

How have insiders been trading Barrett Business Services, Inc. (NASDAQ:BBSI)?

Bullish insider trading is most useful when the company we’re looking at has experienced transactions within the past six months. Over the latest 180-day time frame, Barrett Business Services, Inc. (NASDAQ:BBSI) has experienced zero unique insiders buying, and 3 insider sales (see the details of insider trades here).

Let’s check out 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 are similar to BBSI’s market cap.

Company Name # of Hedge Funds # of Insiders Buying # of Insiders Selling
Kelly Services, Inc. (NASDAQ:KELYA) 10 0 1
DICE HOLDINGS, INC. (NYSE:DHX) 8 0 2
Kforce Inc. (NASDAQ:KFRC) 6 1 12
Heidrick & Struggles International, Inc. (NASDAQ:HSII) 9 0 0
CDI Corp. (NYSE:CDI) 3 0 1

With the results exhibited by the aforementioned research, everyday investors should always keep an eye on hedge fund and insider trading activity, and Barrett Business Services, Inc. (NASDAQ:BBSI) shareholders fit into this picture quite nicely.

Click here to learn more about Insider Monkey’s Hedge Fund Newsletter

Insider Monkey’s small-cap strategy returned 37% between September 2012 and March 2013 versus 12.9% for the S&P 500 index. Try it now by clicking the link above.

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!