Nationwide Fund Advisors Acquires 10,254 Shares of TrueBlue Inc. (TBI)
Nationwide Fund Advisors raised its stake in shares of TrueBlue Inc. (NYSE:TBI) by 12.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 92,913 shares of the company’s stock after buying an additional 10,254 shares during the period. Nationwide Fund Advisors owned approximately 0.23% of TrueBlue worth $1,758,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of TrueBlue by 29.3% in the second quarter. Bank of New York Mellon Corp now owns 4,308,967 shares of the company’s stock valued at $81,526,000 after buying an additional 975,836 shares during the last quarter. GMT Capital Corp purchased a new position in shares of TrueBlue during the second quarter valued at about $10,815,000. Dalton Greiner Hartman Maher & Co. increased its position in shares of TrueBlue by 80.5% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 1,072,437 shares of the company’s stock valued at $20,291,000 after buying an additional 478,162 shares during the last quarter. Hillcrest Asset Management LLC purchased a new position in shares of TrueBlue during the first quarter valued at about $8,118,000. Finally, Royce & Associates LP increased its position in shares of TrueBlue by 12.0% in the second quarter. Royce & Associates LP now owns 2,195,486 shares of the company’s stock valued at $41,539,000 after buying an additional 234,449 shares during the last quarter. 93.02% of the stock is currently owned by institutional investors.
Shares of TrueBlue Inc. (NYSE:TBI) traded up 0.19% during trading on Friday, reaching $21.64. 136,697 shares of the company traded hands. TrueBlue Inc. has a 12 month low of $17.35 and a 12 month high of $30.25. The firm has a 50-day moving average price of $22.20 and a 200-day moving average price of $21.52. The firm’s market capitalization is $890.81 million.
TrueBlue (NYSE:TBI) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.08. The company had revenue of $673 million for the quarter, compared to analysts’ expectations of $675.33 million. TrueBlue had a negative net margin of 0.30% and a positive return on equity of 15.08%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS. Equities research analysts anticipate that TrueBlue Inc. will post $2.18 EPS for the current year.
Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of TrueBlue from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 22nd. Deutsche Bank AG assumed coverage on shares of TrueBlue in a research note on Wednesday, August 17th. They set a “sell” rating and a $20.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. TrueBlue currently has an average rating of “Hold” and an average target price of $23.43.
In other news, EVP James E. Defebaugh sold 5,000 shares of TrueBlue stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $23.07, for a total value of $115,350.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is currently owned by 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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