Ameriprise Financial Inc. cut its stake in TrueBlue Inc. (NYSE:TBI) by 59.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 765,140 shares of the company’s stock after selling 1,115,898 shares during the period. Ameriprise Financial Inc. owned about 1.86% of TrueBlue worth $14,477,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Royce & Associates LP boosted its stake in shares of TrueBlue by 12.0% in the second quarter. Royce & Associates LP now owns 2,195,486 shares of the company’s stock valued at $41,539,000 after buying an additional 234,449 shares during the period. GMT Capital Corp acquired a new stake in shares of TrueBlue during the second quarter valued at about $10,815,000. Emerald Acquisition Ltd. acquired a new stake in shares of TrueBlue during the second quarter valued at about $2,005,000. Rothschild Asset Management Inc. boosted its stake in shares of TrueBlue by 12.4% in the second quarter. Rothschild Asset Management Inc. now owns 557,076 shares of the company’s stock valued at $10,540,000 after buying an additional 61,263 shares during the period. Finally, Swiss National Bank boosted its stake in shares of TrueBlue by 2.2% in the second quarter. Swiss National Bank now owns 70,500 shares of the company’s stock valued at $1,334,000 after buying an additional 1,500 shares during the period. 93.02% of the stock is owned by institutional investors.
TrueBlue Inc. (NYSE:TBI) traded down 2.68% on Friday, reaching $22.86. 273,342 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $22.20 and a 200-day moving average price of $21.70. The company’s market capitalization is $941.03 million. TrueBlue Inc. has a 1-year low of $17.35 and a 1-year high of $30.25.
TrueBlue (NYSE:TBI) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.08. The firm earned $673 million during the quarter, compared to analysts’ expectations of $675.33 million. TrueBlue had a positive return on equity of 15.08% and a negative net margin of 0.30%. TrueBlue’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 earnings per share. On average, equities research analysts anticipate that TrueBlue Inc. will post $2.18 earnings per share for the current year.
TBI has been the topic of several recent research reports. Deutsche Bank AG initiated coverage on shares of TrueBlue in a research report on Wednesday, August 17th. They set a “sell” rating and a $20.00 price target on the stock. Zacks Investment Research raised shares of TrueBlue from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Saturday, August 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock has an average 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 on Monday, July 25th. The stock was sold at an average price of $23.07, for a total value of $115,350.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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.
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