Wellington Management Group LLP acquired a new stake in shares of TrueBlue, Inc. (NYSE:TBI) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 26,135 shares of the business services provider’s stock, valued at approximately $715,000. Wellington Management Group LLP owned approximately 0.06% of TrueBlue at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in TBI. State of Alaska Department of Revenue raised its position in shares of TrueBlue by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 4,660 shares of the business services provider’s stock valued at $127,000 after buying an additional 60 shares in the last quarter. Nordea Investment Management AB purchased a new position in shares of TrueBlue during the first quarter valued at approximately $170,000. 1st Global Advisors Inc. raised its position in shares of TrueBlue by 1.4% in the first quarter. 1st Global Advisors Inc. now owns 8,754 shares of the business services provider’s stock valued at $239,000 after buying an additional 120 shares in the last quarter. Schroder Investment Management Group purchased a new position in shares of TrueBlue during the first quarter valued at approximately $251,000. Finally, Envestnet Asset Management Inc. raised its position in shares of TrueBlue by 10.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,470 shares of the business services provider’s stock valued at $258,000 after buying an additional 978 shares in the last quarter. 88.29% of the stock is owned by institutional investors and hedge funds.
Shares of TrueBlue, Inc. (NYSE TBI) traded up 0.25% during trading on Friday, hitting $19.80. The stock had a trading volume of 354,754 shares. The company has a market cap of $823.24 million, a P/E ratio of 13.98 and a beta of 2.34. TrueBlue, Inc. has a 12 month low of $16.50 and a 12 month high of $28.70. The stock has a 50-day moving average price of $24.17 and a 200 day moving average price of $25.85.
TrueBlue (NYSE:TBI) last announced its earnings results on Monday, July 31st. The business services provider reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $610.10 million during the quarter, compared to the consensus estimate of $610.04 million. TrueBlue had a return on equity of 15.18% and a net margin of 2.27%. The company’s revenue was down 9.3% on a year-over-year basis. During the same period last year, the firm earned $0.54 earnings per share. Equities analysts expect that TrueBlue, Inc. will post $1.69 EPS for the current fiscal year.
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TBI has been the subject of several recent research reports. TheStreet raised TrueBlue from a “c” rating to a “b” rating in a research report on Monday, July 31st. BMO Capital Markets restated a “hold” rating and set a $23.00 price target (down from $26.00) on shares of TrueBlue in a report on Friday, August 11th. BidaskClub downgraded TrueBlue from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research downgraded TrueBlue from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.25.
In related news, CFO Derrek Lane Gafford sold 20,000 shares of TrueBlue stock in a transaction dated 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 transaction, the chief financial officer now directly owns 91,859 shares in the company, valued at $2,549,087.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph P. Sambataro, Jr. sold 25,000 shares of TrueBlue stock in a transaction dated 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 transaction, the director now owns 73,581 shares of the company’s stock, valued at $2,083,813.92. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
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.
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