Royce & Associates LP Sells 39,828 Shares of TrueBlue, Inc. (TBI)
Royce & Associates LP reduced its holdings in TrueBlue, Inc. (NYSE:TBI) by 6.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 624,971 shares of the business services provider’s stock after selling 39,828 shares during the period. Royce & Associates LP owned approximately 1.51% of TrueBlue worth $14,031,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of TrueBlue by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,092,140 shares of the business services provider’s stock worth $55,441,000 after buying an additional 24,233 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in shares of TrueBlue during the 2nd quarter worth about $949,000. Numeric Investors LLC boosted its stake in shares of TrueBlue by 0.8% during the 2nd quarter. Numeric Investors LLC now owns 1,116,864 shares of the business services provider’s stock worth $29,597,000 after purchasing an additional 8,707 shares during the period. Federated Investors Inc. PA boosted its stake in shares of TrueBlue by 26,192.3% during the 2nd quarter. Federated Investors Inc. PA now owns 37,598 shares of the business services provider’s stock worth $996,000 after purchasing an additional 37,455 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in shares of TrueBlue by 4.2% during the 2nd quarter. Great West Life Assurance Co. Can now owns 61,360 shares of the business services provider’s stock worth $1,623,000 after purchasing an additional 2,500 shares during the period. 90.55% of the stock is owned by institutional investors and hedge funds.
In related news, EVP James E. Defebaugh sold 7,500 shares of TrueBlue stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $28.16, for a total transaction of $211,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Taryn R. Owen sold 9,000 shares of TrueBlue stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $26.08, for a total transaction of $234,720.00. Following the sale, the executive vice president now owns 13,084 shares of the company’s stock, valued at approximately $341,230.72. The disclosure for this sale can be found here. Insiders have sold a total of 79,985 shares of company stock valued at $2,169,509 in the last quarter. 2.00% of the stock is currently owned by company insiders.
A number of research firms recently commented on TBI. TheStreet cut shares of TrueBlue from a “b-” rating to a “c+” rating in a research note on Friday, August 18th. Robert W. Baird lifted their price target on shares of TrueBlue from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. BMO Capital Markets reaffirmed a “hold” rating and set a $23.00 price target on shares of TrueBlue in a research note on Friday, October 13th. Zacks Investment Research cut shares of TrueBlue from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Finally, ValuEngine cut shares of TrueBlue from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $26.00.
TrueBlue, Inc. (NYSE:TBI) traded up $0.10 during mid-day trading on Tuesday, hitting $27.90. 210,700 shares of the company were exchanged, compared to its average volume of 290,679. TrueBlue, Inc. has a 52-week low of $19.30 and a 52-week high of $29.50. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a market cap of $1,149.85, a PE ratio of 15.53 and a beta of 2.38.
TrueBlue (NYSE:TBI) last released its quarterly earnings results on Monday, October 30th. The business services provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. TrueBlue had a net margin of 2.22% and a return on equity of 14.05%. The firm had revenue of $660.78 million during the quarter, compared to analysts’ expectations of $651.91 million. During the same period in the previous year, the company earned $0.70 EPS. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. equities research analysts predict that TrueBlue, Inc. will post 1.7 earnings per share for the current fiscal year.
TrueBlue announced that its Board of Directors has authorized a share repurchase plan on Monday, October 30th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
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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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