TrueBlue, Inc. (TBI) Shares Bought by First Midwest Bank Trust Division

First Midwest Bank Trust Division increased its position in shares of TrueBlue, Inc. (NYSE:TBI) by 3.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,806 shares of the business services provider’s stock after buying an additional 550 shares during the period. First Midwest Bank Trust Division’s holdings in TrueBlue were worth $419,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of TBI. Algert Global LLC bought a new position in TrueBlue during the first quarter worth $1,635,000. First Trust Advisors LP acquired a new stake in shares of TrueBlue during the first quarter worth approximately $369,000. State Board of Administration of Florida Retirement System increased its stake in shares of TrueBlue by 15.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 43,345 shares of the business services provider’s stock worth $1,185,000 after buying an additional 5,815 shares during the last quarter. LSV Asset Management acquired a new stake in shares of TrueBlue during the first quarter worth approximately $1,594,000. Finally, Great West Life Assurance Co. Can increased its stake in shares of TrueBlue by 6.9% in the first quarter. Great West Life Assurance Co. Can now owns 58,860 shares of the business services provider’s stock worth $1,606,000 after buying an additional 3,809 shares during the last quarter. Institutional investors own 88.29% of the company’s stock.

Shares of TrueBlue, Inc. (NYSE TBI) opened at 19.80 on Friday. The stock has a market capitalization of $823.24 million, a P/E ratio of 13.98 and a beta of 2.34. TrueBlue, Inc. has a 52-week low of $16.50 and a 52-week high of $28.70. The firm has a 50-day moving average price of $24.17 and a 200-day moving average price of $25.85.

TrueBlue (NYSE:TBI) last issued its quarterly earnings results on Monday, July 31st. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.42. TrueBlue had a return on equity of 15.18% and a net margin of 2.27%. The business had revenue of $610.10 million during the quarter, compared to analyst estimates of $610.04 million. During the same quarter in the prior year, the business posted $0.54 EPS. TrueBlue’s revenue for the quarter was down 9.3% compared to the same quarter last year. On average, analysts predict that TrueBlue, Inc. will post $1.69 EPS for the current year.

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A number of analysts recently commented on the company. BMO Capital Markets reaffirmed a “hold” rating and set a $23.00 price target (down from $26.00) on shares of TrueBlue in a research report on Friday, August 11th. BidaskClub downgraded TrueBlue from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. TheStreet raised TrueBlue from a “c” rating to a “b” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research downgraded TrueBlue from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $21.25.

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

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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