US Bancorp DE lessened its position in TrueBlue, Inc. (NYSE:TBI – Free Report) by 62.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,499 shares of the business services provider’s stock after selling 20,456 shares during the period. US Bancorp DE’s holdings in TrueBlue were worth $222,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of TrueBlue during the fourth quarter valued at approximately $4,745,000. Pacer Advisors Inc. raised its holdings in shares of TrueBlue by 67.0% during the first quarter. Pacer Advisors Inc. now owns 512,227 shares of the business services provider’s stock valued at $9,118,000 after purchasing an additional 205,541 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of TrueBlue by 129.7% during the fourth quarter. AQR Capital Management LLC now owns 306,422 shares of the business services provider’s stock valued at $6,000,000 after purchasing an additional 173,004 shares during the last quarter. FMR LLC raised its holdings in shares of TrueBlue by 86.1% during the second quarter. FMR LLC now owns 350,842 shares of the business services provider’s stock valued at $6,280,000 after purchasing an additional 162,275 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of TrueBlue during the second quarter valued at approximately $2,281,000. Institutional investors own 95.32% of the company’s stock.
TrueBlue Price Performance
TBI opened at $15.36 on Wednesday. The firm has a market cap of $476.16 million, a P/E ratio of 32.68 and a beta of 1.42. TrueBlue, Inc. has a 1-year low of $13.52 and a 1-year high of $22.31. The company has a 50 day simple moving average of $16.50 and a two-hundred day simple moving average of $17.04.
TrueBlue (NYSE:TBI – Get Free Report) last posted its quarterly earnings results on Monday, July 24th. The business services provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The firm had revenue of $475.59 million during the quarter, compared to the consensus estimate of $496.11 million. TrueBlue had a return on equity of 8.88% and a net margin of 0.78%. The business’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.82 earnings per share.
Insiders Place Their Bets
In other TrueBlue news, EVP Carl Schweihs sold 5,750 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $18.15, for a total value of $104,362.50. Following the completion of the transaction, the executive vice president now directly owns 48,729 shares in the company, valued at $884,431.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.00% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have commented on TBI shares. StockNews.com started coverage on shares of TrueBlue in a report on Thursday, August 17th. They set a “hold” rating for the company. Robert W. Baird reduced their target price on shares of TrueBlue from $20.00 to $18.00 in a report on Tuesday, July 25th. Finally, BMO Capital Markets reduced their target price on shares of TrueBlue from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, July 26th.
Check Out Our Latest Stock Analysis on TBI
TrueBlue Company Profile
TrueBlue, Inc, together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, the United Kingdom, Australia, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The company’s PeopleReady segment provides general, industrial, and skilled trade staffing services for construction, transportation, manufacturing, retail, hospitality, and renewable energy industries.
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