Private Capital Management Takes 5.0% Stake in BBSI
Ticker: BBSI · Form: SC 13G · Filed: Feb 5, 2024 · CIK: 902791
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, insider-buy, ownership-change
TL;DR
**Private Capital Management just revealed a 5.0% stake in BBSI, signaling institutional confidence.**
AI Summary
Private Capital Management, LLC, a Delaware-based investment firm, has disclosed a significant stake in Barrett Business Services, Inc. (BBSI). As of December 31, 2023, they beneficially own a total of 346,448 shares of BBSI's common stock, representing 5.0% of the company. This includes 140,405 shares with sole voting and dispositive power, and 206,043 shares with shared voting and dispositive power. This matters to investors because a major institutional investor has taken a substantial position, signaling potential confidence in BBSI's future performance.
Why It Matters
This filing indicates a notable institutional investor sees value in Barrett Business Services, which could be a positive signal for current and prospective shareholders.
Risk Assessment
Risk Level: low — This filing indicates an institutional investor has taken a significant position, which is generally seen as a positive or neutral development.
Analyst Insight
A smart investor would view this as a positive signal, potentially indicating that BBSI is undervalued or has strong growth prospects, and might consider further research into BBSI's fundamentals and Private Capital Management's investment thesis.
Key Numbers
- 346,448 — Aggregate Shares Beneficially Owned (Total shares of BBSI common stock held by Private Capital Management, LLC.)
- 5.0% — Percentage of Class (The percentage of Barrett Business Services, Inc. common stock owned by Private Capital Management, LLC.)
- 140,405 — Sole Voting/Dispositive Power Shares (Shares over which Private Capital Management, LLC has exclusive control.)
- 206,043 — Shared Voting/Dispositive Power Shares (Shares over which Private Capital Management, LLC shares control with others.)
Key Players & Entities
- Private Capital Management, LLC (company) — the reporting person and institutional investor
- Barrett Business Services, Inc. (company) — the subject company (issuer)
- Delaware (company) — state of incorporation for Private Capital Management, LLC
- 5.0% (dollar_amount) — percentage of class beneficially owned
- 346,448 (dollar_amount) — aggregate shares beneficially owned
- December 31, 2023 (person) — date of event requiring the filing
Forward-Looking Statements
- Other institutional investors may increase their positions in BBSI, following Private Capital Management's lead. (BBSI) — medium confidence, target: Q2 2024
FAQ
Who is the reporting person in this SC 13G filing?
The reporting person is Private Capital Management, LLC, with IRS Identification No. 46-3167283, incorporated in Delaware.
What is the subject company whose shares are being reported?
The subject company is Barrett Business Services, Inc. (BBSI), with CUSIP Number 068463108.
What was the date of the event that triggered this filing?
The date of the event which requires the filing of this statement was December 31, 2023.
How many shares of Barrett Business Services, Inc. common stock does Private Capital Management, LLC beneficially own in aggregate?
Private Capital Management, LLC beneficially owns an aggregate amount of 346,448 shares of Barrett Business Services, Inc. common stock.
What percentage of Barrett Business Services, Inc.'s common stock does Private Capital Management, LLC now own?
Private Capital Management, LLC now owns 5.0% of Barrett Business Services, Inc.'s common stock.
Filing Stats: 980 words · 4 min read · ~3 pages · Grade level 9.3 · Accepted 2024-02-05 16:22:56
Filing Documents
- bbsi25242sc13g.htm (SC 13G) — 38KB
- 0001214659-24-001930.txt ( ) — 39KB
(a)
Item 1(a). Name of Issuer: Barrett Business Services, Inc.
(b)
Item 1(b). Address of Issuer's Principal Executive Offices: 8100 NE Parkway Drive, Suite 200, Vancouver, Washington 98662
(a)
Item 2(a). Name of Person Filing: Private Capital Management, LLC
(b)
Item 2(b). Address of Principal Business Office or, if none, Residence: 8889 Pelican Bay Boulevard, Suite 500, Naples, Florida 34108
(c)
Item 2(c). Citizenship: USA
(d)
Item 2(d). Title of Class of Securities: Common Stock
(e)
Item 2(e). CUSIP Number: 068463108 Page 3 of 6 pages Item 3. If this Statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) o Broker or dealer registered under Section 15 of the Act; (b) o Bank as defined in Section 3(a)(6) of the Act; (c) o Insurance company as defined in Section 3(a)(19) of the Act; (d) x Investment company registered under Section 8 of the Investment Company Act of 1940; (e) o An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) o An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) o A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) o A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) o A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940; (j) o A non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J); (k) o Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount Beneficially Owned**: 346,448 (b) Percent of Class: 5.24% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 140,405 (ii) shared power to vote or to direct the vote*: 206,043 (iii) sole power to dispose or to direct the disposition of: 140,405 (iv) shared power to dispose or to direct the disposition of: 206,043 Page 4 of 6 pages Item 5. If this statement is being filed to report the fact that as of the date hereof the r