HighTower Advisors LLC Sells 724 Shares of TrueBlue, Inc. (NYSE:TBI)
HighTower Advisors LLC cut its stake in TrueBlue, Inc. (NYSE:TBI) by 6.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,490 shares of the business services provider’s stock after selling 724 shares during the period. HighTower Advisors LLC’s holdings in TrueBlue were worth $287,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of TrueBlue by 50,858.0% in the first quarter. BlackRock Inc. now owns 5,165,614 shares of the business services provider’s stock valued at $141,280,000 after buying an additional 5,155,477 shares during the period. Vanguard Group Inc. increased its position in shares of TrueBlue by 8.5% in the first quarter. Vanguard Group Inc. now owns 3,892,823 shares of the business services provider’s stock valued at $106,469,000 after buying an additional 305,994 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of TrueBlue by 41.1% in the first quarter. Alliancebernstein L.P. now owns 1,345,671 shares of the business services provider’s stock valued at $36,804,000 after buying an additional 391,674 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of TrueBlue by 114.6% in the first quarter. JPMorgan Chase & Co. now owns 1,085,196 shares of the business services provider’s stock valued at $29,681,000 after buying an additional 579,545 shares in the last quarter. Finally, FMR LLC increased its position in shares of TrueBlue by 32.5% in the first quarter. FMR LLC now owns 1,041,300 shares of the business services provider’s stock valued at $28,480,000 after buying an additional 255,207 shares in the last quarter. 90.83% of the stock is owned by institutional investors.
TrueBlue, Inc. (TBI) opened at 27.05 on Friday. The firm has a 50-day moving average price of $26.81 and a 200 day moving average price of $26.16. The company’s market cap is $1.13 billion. TrueBlue, Inc. has a 52 week low of $16.50 and a 52 week high of $28.70.
TrueBlue (NYSE:TBI) last issued its quarterly earnings results on Monday, May 1st. The business services provider reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.09. The business had revenue of $568.24 million during the quarter, compared to analysts’ expectations of $569.85 million. TrueBlue had a positive return on equity of 16.30% and a negative net margin of 0.66%. The business’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.27 earnings per share. Analysts expect that TrueBlue, Inc. will post $1.76 EPS for the current fiscal year.
Several research analysts have commented on the company. Zacks Investment Research downgraded TrueBlue from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. BMO Capital Markets restated a “sell” rating and issued a $25.00 target price on shares of TrueBlue in a research note on Wednesday, May 3rd. Four investment analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus price target of $22.50.
In related news, EVP James E. Defebaugh sold 5,000 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $27.00, for a total transaction of $135,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Derrek Lane Gafford sold 20,000 shares of the 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 sale, the chief financial officer now owns 91,859 shares of the company’s stock, valued at approximately $2,549,087.25. The disclosure for this sale can be found here. Insiders have sold 90,000 shares of company stock valued at $2,479,200 in the last quarter. 2.00% of the stock is currently owned by company 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.
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