Chartwell Investment Partners LLC lowered its stake in shares of TrueBlue, Inc. (NYSE:TBI) by 4.1% during the second quarter, Holdings Channel reports. The firm owned 672,320 shares of the business services provider’s stock after selling 28,900 shares during the period. Chartwell Investment Partners LLC’s holdings in TrueBlue were worth $17,816,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TBI. State of Alaska Department of Revenue increased its position in shares of TrueBlue by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 4,660 shares of the business services provider’s stock valued at $127,000 after buying an additional 60 shares during the period. Louisiana State Employees Retirement System increased its position in shares of TrueBlue by 0.6% in the first quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the business services provider’s stock valued at $470,000 after buying an additional 100 shares during the period. 1st Global Advisors Inc. increased its position in shares of TrueBlue by 1.4% in the first quarter. 1st Global Advisors Inc. now owns 8,754 shares of the business services provider’s stock valued at $239,000 after buying an additional 120 shares during the period. Arizona State Retirement System increased its position in shares of TrueBlue by 0.9% in the first quarter. Arizona State Retirement System now owns 22,028 shares of the business services provider’s stock valued at $602,000 after buying an additional 200 shares during the period. Finally, Legal & General Group Plc increased its position in shares of TrueBlue by 0.3% in the first quarter. Legal & General Group Plc now owns 76,965 shares of the business services provider’s stock valued at $2,104,000 after buying an additional 264 shares during the period. 88.29% of the stock is owned by institutional investors.

Shares of TrueBlue, Inc. (NYSE TBI) opened at 19.75 on Friday. The firm has a market cap of $821.17 million, a P/E ratio of 13.95 and a beta of 2.34. TrueBlue, Inc. has a 12-month low of $16.50 and a 12-month high of $28.70. The company has a 50-day moving average of $24.36 and a 200 day moving average of $25.88.

TrueBlue (NYSE:TBI) last announced its earnings results on Monday, July 31st. The business services provider reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $610.10 million for the quarter, compared to analysts’ expectations of $610.04 million. TrueBlue had a return on equity of 15.18% and a net margin of 2.27%. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. Equities analysts predict that TrueBlue, Inc. will post $1.69 EPS for the current year.

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Several brokerages have recently issued reports on TBI. BMO Capital Markets raised shares of TrueBlue from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $25.00 to $28.00 in a report on Friday, May 26th. BidaskClub downgraded shares of TrueBlue from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Zacks Investment Research downgraded shares of TrueBlue from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Finally, TheStreet raised shares of TrueBlue from a “c” rating to a “b” rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $21.25.

In other news, Director Joseph P. Sambataro, Jr. sold 25,000 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $28.32, for a total transaction of $708,000.00. Following the sale, the director now owns 73,581 shares in the company, valued at $2,083,813.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Derrek Lane Gafford sold 20,000 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $27.75, for a total value of $555,000.00. Following the sale, the chief financial officer now owns 91,859 shares in the company, valued at approximately $2,549,087.25. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

About TrueBlue

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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Institutional Ownership by Quarter for TrueBlue (NYSE:TBI)

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