TrueBlue Inc. (TBI) Position Raised by PineBridge Investments L.P.
PineBridge Investments L.P. boosted its position in shares of TrueBlue Inc. (NYSE:TBI) by 4.8% during the second quarter, Holdings Channel reports. The institutional investor owned 5,385 shares of the company’s stock after buying an additional 249 shares during the period. PineBridge Investments L.P.’s holdings in TrueBlue were worth $102,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in TBI. Springbok Capital Management LLC boosted its position in shares of TrueBlue by 2.3% in the first quarter. Springbok Capital Management LLC now owns 13,200 shares of the company’s stock valued at $345,000 after buying an additional 300 shares during the last quarter. BlackRock Group LTD boosted its position in shares of TrueBlue by 11.1% in the first quarter. BlackRock Group LTD now owns 73,688 shares of the company’s stock valued at $1,927,000 after buying an additional 7,343 shares during the last quarter. Bayesian Capital Management LP boosted its position in shares of TrueBlue by 11.3% in the first quarter. Bayesian Capital Management LP now owns 8,900 shares of the company’s stock valued at $233,000 after buying an additional 900 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of TrueBlue by 7.7% in the first quarter. JPMorgan Chase & Co. now owns 498,769 shares of the company’s stock valued at $13,043,000 after buying an additional 35,798 shares during the last quarter. Finally, Clark Capital Management Group Inc. bought a new position in shares of TrueBlue during the first quarter valued at about $676,000. 93.02% of the stock is currently owned by institutional investors.
Shares of TrueBlue Inc. (NYSE:TBI) opened at 22.50 on Friday. TrueBlue Inc. has a 1-year low of $17.35 and a 1-year high of $30.25. The company’s market cap is $926.21 million. The firm’s 50-day moving average is $22.23 and its 200 day moving average is $21.61.
TrueBlue (NYSE:TBI) last issued its earnings results on Wednesday, July 20th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08. The business earned $673 million during the quarter, compared to analyst estimates of $675.33 million. TrueBlue had a positive return on equity of 15.08% and a negative net margin of 0.30%. TrueBlue’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 earnings per share. Equities analysts expect that TrueBlue Inc. will post $2.18 EPS for the current fiscal year.
A number of brokerages recently weighed in on TBI. Deutsche Bank AG began coverage on shares of TrueBlue in a research note on Wednesday, August 17th. They set a “sell” rating and a $20.00 price target for the company. Zacks Investment Research upgraded shares of TrueBlue from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Saturday, August 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. TrueBlue currently has an average rating of “Hold” and an average price target of $23.43.
In related news, EVP James E. Defebaugh sold 5,000 shares of the company’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $23.07, for a total value of $115,350.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is owned by corporate insiders.
TrueBlue, Inc (TrueBlue) is a provider of specialized workforce solutions. The Company is engaged in providing staffing, recruitment process outsourcing, and managed service provider solutions. The Company operates through two segments: Staffing Services and Managed Services. The Company offers on-premise temporary blue-collar staffing, and outsourced service offerings in recruitment process outsourcing (RPO) and management of contingent labor services providers (MSP) solutions.
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