Dimensional Fund Advisors LP increased its stake in shares of TrueBlue, Inc. (NYSE:TBI) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,092,140 shares of the business services provider’s stock after buying an additional 24,233 shares during the period. Dimensional Fund Advisors LP owned about 5.03% of TrueBlue worth $55,441,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its holdings in TrueBlue by 79.6% during the second quarter. State of Alaska Department of Revenue now owns 8,371 shares of the business services provider’s stock worth $221,000 after buying an additional 3,711 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in TrueBlue during the second quarter worth about $236,000. Schroder Investment Management Group purchased a new stake in TrueBlue during the first quarter worth about $251,000. Karp Capital Management Corp purchased a new stake in TrueBlue during the first quarter worth about $261,000. Finally, Virtu KCG Holdings LLC purchased a new stake in TrueBlue during the second quarter worth about $261,000. 89.82% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on TBI. BidaskClub downgraded shares of TrueBlue from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research cut shares of TrueBlue from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. 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. ValuEngine upgraded shares of TrueBlue from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Finally, 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $20.25.
In other news, EVP Wayne W. Larkin sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $23.00, for a total transaction of $230,000.00. Following the completion of the transaction, the executive vice president now owns 52,061 shares in the company, valued at approximately $1,197,403. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.
TrueBlue, Inc. (TBI) opened at 23.25 on Wednesday. The firm’s 50-day moving average is $21.76 and its 200-day moving average is $24.60. The firm has a market cap of $966.69 million, a PE ratio of 16.42 and a beta of 2.40. TrueBlue, Inc. has a 12 month low of $16.50 and a 12 month high of $28.70.
TrueBlue (NYSE:TBI) last posted its quarterly earnings data on Monday, July 31st. The business services provider reported $0.42 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. TrueBlue had a net margin of 2.27% and a return on equity of 15.18%. The company had revenue of $610.10 million during the quarter, compared to analyst estimates of $610.04 million. During the same quarter last year, the firm posted $0.54 EPS. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. Equities analysts expect that TrueBlue, Inc. will post $1.69 earnings per share for the current year.
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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