First Trust Advisors LP Purchases New Stake in Trueblue Inc (TBI)

First Trust Advisors LP purchased a new position in shares of Trueblue Inc (NYSE:TBI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 101,716 shares of the business services provider’s stock, valued at approximately $2,797,000. First Trust Advisors LP owned approximately 0.25% of Trueblue as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Macquarie Group Ltd. acquired a new position in shares of Trueblue during the third quarter worth about $117,000. Jane Street Group LLC acquired a new position in shares of Trueblue in the third quarter worth about $203,000. Virginia Retirement Systems ET AL acquired a new position in shares of Trueblue in the third quarter worth about $209,000. FNY Managed Accounts LLC acquired a new position in shares of Trueblue in the third quarter worth about $215,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Trueblue by 381.4% in the third quarter. Victory Capital Management Inc. now owns 10,481 shares of the business services provider’s stock worth $235,000 after acquiring an additional 8,304 shares in the last quarter. 94.67% of the stock is owned by institutional investors and hedge funds.

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Shares of NYSE:TBI traded down $0.35 on Friday, reaching $26.60. 320,774 shares of the company traded hands, compared to its average volume of 234,247. Trueblue Inc has a fifty-two week low of $19.30 and a fifty-two week high of $29.50. The company has a market capitalization of $1,107.36, a PE ratio of 15.49 and a beta of 2.15. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.02 and a current ratio of 2.02.

Trueblue (NYSE:TBI) last released its earnings results on Wednesday, February 7th. The business services provider reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. Trueblue had a return on equity of 13.30% and a net margin of 2.21%. The company had revenue of $669.63 million during the quarter, compared to analyst estimates of $667.66 million. During the same quarter in the prior year, the company earned $0.58 earnings per share. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. research analysts forecast that Trueblue Inc will post 2.21 EPS for the current fiscal year.

Several analysts have issued reports on TBI shares. Zacks Investment Research upgraded Trueblue from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective on the stock in a research note on Tuesday, February 13th. BMO Capital Markets lowered their target price on Trueblue from $30.00 to $29.00 and set a “market perform” rating for the company in a report on Thursday, February 8th. One analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $28.67.

In other news, Director Bonnie W. Soodik sold 20,871 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $27.85, for a total value of $581,257.35. Following the transaction, the director now directly owns 2,119 shares of the company’s stock, valued at $59,014.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.

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Trueblue Company Profile

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, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.

Institutional Ownership by Quarter for Trueblue (NYSE:TBI)

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