BNP Paribas Arbitrage SA cut its stake in TrueBlue Inc. (NYSE:TBI) by 46.9% during the third quarter, Holdings Channel reports. The firm owned 7,682 shares of the company’s stock after selling 6,783 shares during the period. BNP Paribas Arbitrage SA’s holdings in TrueBlue were worth $174,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Springbok Capital Management LLC raised its position in TrueBlue by 2.3% in the first quarter. Springbok Capital Management LLC now owns 13,200 shares of the company’s stock worth $345,000 after buying an additional 300 shares during the last quarter. Cortina Asset Management LLC bought a new position in TrueBlue during the second quarter worth $4,077,000. BlackRock Group LTD raised its position in TrueBlue by 11.1% in the first quarter. BlackRock Group LTD now owns 73,688 shares of the company’s stock worth $1,927,000 after buying an additional 7,343 shares during the last quarter. Bayesian Capital Management LP raised its position in TrueBlue by 11.3% in the first quarter. Bayesian Capital Management LP now owns 8,900 shares of the company’s stock worth $233,000 after buying an additional 900 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in TrueBlue by 7.7% in the first quarter. JPMorgan Chase & Co. now owns 498,769 shares of the company’s stock worth $13,043,000 after buying an additional 35,798 shares during the last quarter. 93.02% of the stock is owned by institutional investors.
Shares of TrueBlue Inc. (NYSE:TBI) opened at 22.05 on Friday. TrueBlue Inc. has a 52-week low of $17.35 and a 52-week high of $30.25. The company’s market cap is $907.69 million. The company has a 50-day moving average price of $22.22 and a 200-day moving average price of $21.58.
TrueBlue (NYSE:TBI) last posted its earnings results on Wednesday, July 20th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08. TrueBlue had a positive return on equity of 15.08% and a negative net margin of 0.30%. The company had revenue of $673 million for the quarter, compared to the consensus estimate of $675.33 million. During the same quarter in the prior year, the company earned $0.45 earnings per share. TrueBlue’s revenue was up 7.2% on a year-over-year basis. On average, equities analysts predict that TrueBlue Inc. will post $2.18 EPS for the current year.
A number of research analysts have weighed in on the company. Zacks Investment Research raised TrueBlue from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Saturday, August 6th. Deutsche Bank AG assumed coverage on TrueBlue in a report on Wednesday, August 17th. They set a “sell” rating and a $20.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $23.43.
In other news, EVP James E. Defebaugh sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $23.07, for a total value of $115,350.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is owned by insiders.
TrueBlue, Inc (TrueBlue) is a provider of specialized workforce solutions. The Company is engaged in providing staffing, recruitment process outsourcing, and managed service provider solutions. The Company operates through two segments: Staffing Services and Managed Services. The Company offers on-premise temporary blue-collar staffing, and outsourced service offerings in recruitment process outsourcing (RPO) and management of contingent labor services providers (MSP) solutions.
Want to see what other hedge funds are holding TBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TrueBlue Inc. (NYSE:TBI).
Receive News & Ratings for TrueBlue Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TrueBlue Inc. and related companies with MarketBeat.com's FREE daily email newsletter.