Convergence Investment Partners LLC decreased its stake in Trueblue Inc (NYSE:TBI) by 22.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,502 shares of the business services provider’s stock after selling 14,770 shares during the period. Convergence Investment Partners LLC’s holdings in Trueblue were worth $1,389,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TBI. Vanguard Group Inc. raised its position in Trueblue by 16.1% during the second quarter. Vanguard Group Inc. now owns 4,519,856 shares of the business services provider’s stock worth $119,777,000 after acquiring an additional 627,033 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Trueblue by 6.1% during the third quarter. Dimensional Fund Advisors LP now owns 2,219,800 shares of the business services provider’s stock worth $49,834,000 after acquiring an additional 127,660 shares during the last quarter. JPMorgan Chase & Co. raised its position in Trueblue by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 1,238,560 shares of the business services provider’s stock worth $27,682,000 after acquiring an additional 141,579 shares during the last quarter. FMR LLC raised its position in Trueblue by 16.1% during the second quarter. FMR LLC now owns 1,209,465 shares of the business services provider’s stock worth $32,051,000 after acquiring an additional 168,165 shares during the last quarter. Finally, Numeric Investors LLC raised its position in Trueblue by 0.8% during the second quarter. Numeric Investors LLC now owns 1,116,864 shares of the business services provider’s stock worth $29,597,000 after acquiring an additional 8,707 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Trueblue Inc (NYSE TBI) opened at $27.55 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.20. The stock has a market cap of $1,140.00, a PE ratio of 20.11 and a beta of 2.39. Trueblue Inc has a 52-week low of $19.30 and a 52-week high of $29.50.

Trueblue (NYSE:TBI) last posted its quarterly earnings data on Monday, October 30th. The business services provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $660.78 million during the quarter, compared to analyst estimates of $651.91 million. Trueblue had a net margin of 2.22% and a return on equity of 14.05%. The company’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.70 earnings per share. equities analysts expect that Trueblue Inc will post 1.7 EPS for the current year.

Trueblue declared that its board has authorized a share repurchase plan on Monday, October 30th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

A number of equities analysts have issued reports on TBI shares. TheStreet upgraded shares of Trueblue from a “c+” rating to a “b” rating in a research report on Friday, November 17th. ValuEngine upgraded shares of Trueblue from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. BMO Capital Markets restated a “hold” rating and set a $23.00 target price on shares of Trueblue in a research report on Friday, October 13th. Robert W. Baird restated a “hold” rating and set a $25.00 target price on shares of Trueblue in a research report on Friday, October 6th. Finally, Zacks Investment Research upgraded shares of Trueblue from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. Trueblue has a consensus rating of “Hold” and a consensus target price of $26.00.

In other news, CEO Steven C. Cooper sold 23,900 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $28.06, for a total value of $670,634.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Taryn R. Owen sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $26.08, for a total transaction of $234,720.00. Following the completion of the transaction, the executive vice president now directly owns 13,084 shares of the company’s stock, valued at approximately $341,230.72. The disclosure for this sale can be found here. In the last three months, insiders sold 69,985 shares of company stock valued at $1,939,509. Company insiders own 2.00% of the company’s stock.

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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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Institutional Ownership by Quarter for Trueblue (NYSE:TBI)

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