James Investment Research Inc. decreased its holdings in shares of Trueblue Inc (NYSE:TBI) by 53.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,401 shares of the business services provider’s stock after selling 55,866 shares during the quarter. James Investment Research Inc. owned 0.12% of Trueblue worth $1,168,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Trueblue by 42.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,738 shares of the business services provider’s stock valued at $61,000 after buying an additional 822 shares in the last quarter. Quantamental Technologies LLC bought a new position in shares of Trueblue during the 4th quarter valued at $71,000. Bessemer Group Inc. bought a new position in shares of Trueblue during the 4th quarter valued at $138,000. Pacer Advisors Inc. grew its holdings in shares of Trueblue by 141.5% during the 3rd quarter. Pacer Advisors Inc. now owns 5,618 shares of the business services provider’s stock valued at $146,000 after purchasing an additional 3,292 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in Trueblue by 1,301.5% in the 1st quarter. Meeder Asset Management Inc. now owns 6,517 shares of the business services provider’s stock worth $154,000 after acquiring an additional 6,052 shares during the last quarter. Hedge funds and other institutional investors own 96.23% of the company’s stock.
In other Trueblue news, EVP James E. Defebaugh sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $24.69, for a total transaction of $246,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO A. Patrick Beharelle sold 15,700 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $24.54, for a total value of $385,278.00. Following the completion of the sale, the chief executive officer now directly owns 107,965 shares in the company, valued at approximately $2,649,461.10. The disclosure for this sale can be found here. Insiders have sold 90,700 shares of company stock worth $2,189,078 over the last quarter. 2.00% of the stock is currently owned by company insiders.
TBI stock traded down $0.44 during midday trading on Wednesday, reaching $23.35. The stock had a trading volume of 161,400 shares, compared to its average volume of 196,946. The firm has a market capitalization of $943.60 million, a P/E ratio of 10.24 and a beta of 1.66. Trueblue Inc has a 52-week low of $20.56 and a 52-week high of $29.85. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 1.79.
Trueblue (NYSE:TBI) last announced its quarterly earnings results on Monday, April 29th. The business services provider reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.03. Trueblue had a return on equity of 15.35% and a net margin of 2.61%. The firm had revenue of $552.30 million during the quarter, compared to the consensus estimate of $560.27 million. During the same period in the prior year, the company posted $0.31 earnings per share. The firm’s quarterly revenue was down .4% compared to the same quarter last year. On average, equities analysts forecast that Trueblue Inc will post 2.28 earnings per share for the current year.
TBI has been the subject of several research analyst reports. ValuEngine cut shares of Trueblue from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. TheStreet raised shares of Trueblue from a “c+” rating to a “b-” rating in a report on Tuesday, April 16th. BMO Capital Markets reduced their price target on shares of Trueblue from $26.00 to $24.00 and set a “market perform” rating for the company in a research note on Monday, February 11th. Robert W. Baird cut their target price on shares of Trueblue from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, April 30th. Finally, Zacks Investment Research downgraded shares of Trueblue from a “hold” rating to a “sell” rating in a report on Tuesday, February 12th. Five investment analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus price target of $25.50.
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TrueBlue, Inc provides contingent staffing, recruitment process outsourcing, and contingent staffing management services in the United States, Canada, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The PeopleReady segment offers a range of staffing solutions for blue-collar, contingent on-demand, and skilled labor in construction, manufacturing and logistics, warehousing and distribution, waste and recycling, energy, retail, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.
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