TrueBlue, Inc. (NYSE:TBI) Stake Reduced by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. reduced its stake in TrueBlue, Inc. (NYSE:TBI) by 10.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,188 shares of the business services provider’s stock after selling 23,084 shares during the period. Goldman Sachs Group Inc. owned about 0.47% of TrueBlue worth $5,339,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Paloma Partners Management Co raised its stake in shares of TrueBlue by 92.5% in the first quarter. Paloma Partners Management Co now owns 36,535 shares of the business services provider’s stock valued at $999,000 after buying an additional 17,558 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of TrueBlue by 21.5% in the first quarter. AQR Capital Management LLC now owns 422,716 shares of the business services provider’s stock valued at $11,561,000 after buying an additional 74,866 shares in the last quarter. State Street Corp raised its stake in shares of TrueBlue by 5.6% in the first quarter. State Street Corp now owns 1,022,823 shares of the business services provider’s stock valued at $27,975,000 after buying an additional 53,936 shares in the last quarter. Bank of America Corp DE raised its stake in shares of TrueBlue by 15.2% in the first quarter. Bank of America Corp DE now owns 236,057 shares of the business services provider’s stock valued at $6,456,000 after buying an additional 31,213 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of TrueBlue by 1.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 453,956 shares of the business services provider’s stock valued at $12,416,000 after buying an additional 6,795 shares in the last quarter. 88.29% of the stock is currently owned by institutional investors and hedge funds.

TrueBlue, Inc. (TBI) traded up 0.25% during mid-day trading on Friday, hitting $19.80. 354,754 shares of the stock traded hands. The company’s 50 day moving average price is $24.17 and its 200-day moving average price is $25.85. TrueBlue, Inc. has a 1-year low of $16.50 and a 1-year high of $28.70. The stock has a market cap of $823.24 million, a price-to-earnings ratio of 13.98 and a beta of 2.34.

TrueBlue (NYSE:TBI) last issued its quarterly earnings data on Monday, July 31st. The business services provider reported $0.42 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.42. TrueBlue had a net margin of 2.27% and a return on equity of 15.18%. The firm had revenue of $610.10 million for the quarter, compared to analysts’ expectations of $610.04 million. During the same quarter in the prior year, the business earned $0.54 EPS. The business’s quarterly revenue was down 9.3% on a year-over-year basis. Analysts predict that TrueBlue, Inc. will post $1.69 earnings per share for the current year.

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Several brokerages have commented on TBI. BMO Capital Markets reaffirmed a “hold” rating and issued a $23.00 price objective (down previously from $26.00) on shares of TrueBlue in a research report on Friday, August 11th. BidaskClub lowered shares of TrueBlue from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Zacks Investment Research lowered shares of TrueBlue from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Finally, TheStreet raised shares of TrueBlue from a “c” rating to a “b” rating in a research report on Monday, July 31st. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $21.25.

In other TrueBlue news, Director Joseph P. Sambataro, Jr. sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $28.32, for a total transaction of $708,000.00. Following the sale, the director now owns 73,581 shares in the company, valued at approximately $2,083,813.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Derrek Lane Gafford sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $27.75, for a total transaction of $555,000.00. Following the sale, the chief financial officer now owns 91,859 shares in the company, valued at approximately $2,549,087.25. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

TrueBlue Company Profile

TrueBlue, Inc is a provider of specialized workforce solutions. The Company is engaged in providing staffing, on-site workforce management and recruitment process outsourcing services. The Company operates through three segments: PeopleReady, PeopleManagement and PeopleScout. Its PeopleReady segment provides blue-collar contingent staffing through the PeopleReady service line.

Institutional Ownership by Quarter for TrueBlue (NYSE:TBI)

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