Nisa Investment Advisors LLC Has $239,000 Stake in TrueBlue, Inc. (TBI)
Nisa Investment Advisors LLC maintained its position in shares of TrueBlue, Inc. (NYSE:TBI) during the second quarter, Holdings Channel reports. The firm owned 9,020 shares of the business services provider’s stock at the end of the second quarter. Nisa Investment Advisors LLC’s holdings in TrueBlue were worth $239,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Alaska Department of Revenue raised 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 worth $127,000 after buying an additional 60 shares during the last quarter. Nordea Investment Management AB purchased a new position in shares of TrueBlue during the first quarter worth approximately $170,000. 1st Global Advisors Inc. raised 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 worth $239,000 after buying an additional 120 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of TrueBlue during the first quarter worth approximately $251,000. Finally, Karp Capital Management Corp purchased a new position in shares of TrueBlue during the first quarter worth approximately $261,000. Institutional investors and hedge funds own 88.29% of the company’s stock.
Shares of TrueBlue, Inc. (TBI) traded down 2.96% during mid-day trading on Tuesday, reaching $19.65. The company’s stock had a trading volume of 77,218 shares. TrueBlue, Inc. has a 52-week low of $16.50 and a 52-week high of $28.70. The firm has a market cap of $817.01 million, a price-to-earnings ratio of 13.88 and a beta of 2.34. The firm has a 50 day moving average price of $24.92 and a 200 day moving average price of $26.00.
TrueBlue (NYSE:TBI) last announced its quarterly earnings data on Monday, July 31st. The business services provider reported $0.42 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. The firm had revenue of $610.10 million during 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 company’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.54 EPS. On average, equities analysts predict that TrueBlue, Inc. will post $1.69 EPS for the current fiscal year.
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A number of research analysts recently commented on TBI shares. TheStreet upgraded TrueBlue from a “c” rating to a “b” rating in a research note on Monday, July 31st. BMO Capital Markets restated a “hold” rating and issued a $23.00 target price (down from $26.00) on shares of TrueBlue in a research note on Friday. BidaskClub lowered TrueBlue from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Zacks Investment Research lowered TrueBlue from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $21.25.
In other TrueBlue news, CFO Derrek Lane Gafford sold 20,000 shares of TrueBlue 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 completion of the transaction, the chief financial officer now directly owns 91,859 shares of the company’s stock, valued at approximately $2,549,087.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph P. Sambataro, Jr. sold 25,000 shares of TrueBlue 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 of the company’s stock, valued at $2,083,813.92. The disclosure for this sale can be found here. 2.00% of the stock is owned by 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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