Hillsdale Investment Management Inc. Takes Position in TrueBlue, Inc. (TBI)
Hillsdale Investment Management Inc. bought a new stake in shares of TrueBlue, Inc. (NYSE:TBI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 35,800 shares of the business services provider’s stock, valued at approximately $949,000. Hillsdale Investment Management Inc. owned approximately 0.09% of TrueBlue at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of TBI. Russell Investments Group Ltd. raised its holdings in TrueBlue by 192.1% during the first quarter. Russell Investments Group Ltd. now owns 137,474 shares of the business services provider’s stock valued at $3,760,000 after buying an additional 90,404 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in TrueBlue by 6.9% during the first quarter. Great West Life Assurance Co. Can now owns 58,860 shares of the business services provider’s stock valued at $1,606,000 after buying an additional 3,809 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in TrueBlue by 15.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 43,345 shares of the business services provider’s stock valued at $1,185,000 after buying an additional 5,815 shares in the last quarter. First Trust Advisors LP bought a new position in TrueBlue during the first quarter valued at about $369,000. Finally, American Century Companies Inc. bought a new position in TrueBlue during the first quarter valued at about $520,000. Institutional investors own 89.82% of the company’s stock.
In other news, EVP Wayne W. Larkin sold 10,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $20.38, for a total value of $203,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.
Shares of TrueBlue, Inc. (NYSE:TBI) opened at 22.45 on Friday. The firm has a market capitalization of $933.43 million, a P/E ratio of 15.85 and a beta of 2.38. TrueBlue, Inc. has a 12 month low of $16.50 and a 12 month high of $28.70. The stock has a 50 day moving average price of $20.57 and a 200 day moving average price of $25.13.
TrueBlue (NYSE:TBI) last issued its quarterly earnings results on Monday, July 31st. The business services provider reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. TrueBlue had a net margin of 2.27% and a return on equity of 15.18%. The firm had revenue of $610.10 million for the quarter, compared to analysts’ expectations of $610.04 million. During the same period in the previous year, the firm posted $0.54 EPS. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, analysts expect that TrueBlue, Inc. will post $1.69 earnings per share for the current year.
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Several research firms have weighed in on TBI. BidaskClub lowered TrueBlue from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Zacks Investment Research lowered TrueBlue from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. TheStreet upgraded TrueBlue from a “c” rating to a “b” rating in a report on Monday, July 31st. BMO Capital Markets restated a “hold” rating and set a $23.00 target price (down from $26.00) on shares of TrueBlue in a report on Friday, August 11th. Finally, ValuEngine lowered TrueBlue from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating and four have assigned 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.
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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