Clark Estates Inc. NY Has $3,975,000 Stake in TrueBlue, Inc. (NYSE:TBI)
Clark Estates Inc. NY continued to hold its position in TrueBlue, Inc. (NYSE:TBI) during the second quarter, according to its most recent filing with the SEC. The firm owned 150,000 shares of the business services provider’s stock at the end of the second quarter. TrueBlue makes up about 0.7% of Clark Estates Inc. NY’s holdings, making the stock its 24th largest position. Clark Estates Inc. NY’s holdings in TrueBlue were worth $3,975,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its position in TrueBlue by 1.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 453,956 shares of the business services provider’s stock valued at $12,416,000 after buying an additional 6,795 shares during the last quarter. Acadian Asset Management LLC acquired a new position in TrueBlue during the first quarter valued at about $3,442,000. Swiss National Bank increased its position in TrueBlue by 2.2% in the first quarter. Swiss National Bank now owns 70,000 shares of the business services provider’s stock valued at $1,915,000 after buying an additional 1,500 shares during the last quarter. Citadel Advisors LLC increased its position in TrueBlue by 362.2% in the first quarter. Citadel Advisors LLC now owns 73,966 shares of the business services provider’s stock valued at $2,023,000 after buying an additional 57,962 shares during the last quarter. Finally, Alambic Investment Management L.P. increased its position in TrueBlue by 1.8% in the first quarter. Alambic Investment Management L.P. now owns 22,100 shares of the business services provider’s stock valued at $604,000 after buying an additional 400 shares during the last quarter. 92.66% of the stock is owned by hedge funds and other institutional investors.
TrueBlue, Inc. (NYSE TBI) opened at 20.05 on Friday. The company has a market cap of $833.64 million, a P/E ratio of 14.16 and a beta of 2.34. The company’s 50-day moving average is $25.28 and its 200-day moving average is $26.06. TrueBlue, Inc. has a 52 week low of $16.50 and a 52 week high of $28.70.
TrueBlue (NYSE:TBI) last posted its quarterly earnings results on Monday, July 31st. The business services provider reported $0.42 EPS for the quarter, meeting the Zacks’ 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 period in the prior year, the business posted $0.54 EPS. The firm’s revenue was down 9.3% compared to the same quarter last year. On average, analysts anticipate that TrueBlue, Inc. will post $1.69 EPS for the current fiscal year.
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TBI has been the subject of several analyst reports. BidaskClub downgraded shares of TrueBlue from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research downgraded shares of TrueBlue from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. BMO Capital Markets reissued a “sell” rating and set a $25.00 target price on shares of TrueBlue in a research note on Wednesday, May 3rd. Finally, TheStreet raised shares of TrueBlue from a “c” rating to a “b” rating in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $21.25.
In other TrueBlue news, Director Joseph P. Sambataro, Jr. sold 25,000 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $28.32, for a total value of $708,000.00. Following the completion of the transaction, the director now directly owns 73,581 shares in the company, valued at approximately $2,083,813.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Derrek Lane Gafford sold 20,000 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $27.75, for a total transaction of $555,000.00. Following the completion of the transaction, the chief financial officer now owns 91,859 shares of the company’s stock, valued at $2,549,087.25. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
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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