TrueBlue, Inc. (TBI) Position Boosted by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA increased its position in shares of TrueBlue, Inc. (NYSE:TBI) by 60.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,525 shares of the business services provider’s stock after purchasing an additional 10,373 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.07% of TrueBlue worth $618,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TBI. Dimensional Fund Advisors LP boosted its position in TrueBlue by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,092,140 shares of the business services provider’s stock valued at $55,441,000 after buying an additional 24,233 shares during the period. Hillsdale Investment Management Inc. bought a new stake in shares of TrueBlue in the 2nd quarter valued at about $949,000. Numeric Investors LLC raised its holdings in shares of TrueBlue by 0.8% in the 2nd quarter. Numeric Investors LLC now owns 1,116,864 shares of the business services provider’s stock valued at $29,597,000 after purchasing an additional 8,707 shares in the last quarter. Federated Investors Inc. PA raised its holdings in shares of TrueBlue by 26,192.3% in the 2nd quarter. Federated Investors Inc. PA now owns 37,598 shares of the business services provider’s stock valued at $996,000 after purchasing an additional 37,455 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in shares of TrueBlue by 4.2% in the 2nd quarter. Great West Life Assurance Co. Can now owns 61,360 shares of the business services provider’s stock valued at $1,623,000 after purchasing an additional 2,500 shares in the last quarter. 90.55% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently commented on the stock. TheStreet upgraded shares of TrueBlue from a “c+” rating to a “b” rating in a report on Friday, November 17th. Zacks Investment Research lowered shares of TrueBlue from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. BMO Capital Markets boosted their price target on shares of TrueBlue from $23.00 to $26.00 and gave the company a “market perform” rating in a report on Wednesday, November 1st. Robert W. Baird boosted their price target on shares of TrueBlue from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Finally, ValuEngine upgraded shares of TrueBlue from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $26.00.

In other TrueBlue news, EVP Wayne W. Larkin sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $23.00, for a total transaction of $230,000.00. Following the sale, the executive vice president now owns 52,061 shares of the company’s stock, valued at approximately $1,197,403. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Taryn R. Owen sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $26.08, for a total transaction of $234,720.00. Following the sale, the executive vice president now directly owns 13,084 shares in the company, valued at approximately $341,230.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,985 shares of company stock valued at $2,169,509. 2.00% of the stock is currently owned by company insiders.

TrueBlue, Inc. (NYSE TBI) traded up $0.10 during midday trading on Thursday, hitting $27.30. 153,200 shares of the company traded hands, compared to its average volume of 291,253. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market cap of $1,125.03, a price-to-earnings ratio of 15.20 and a beta of 2.38. TrueBlue, Inc. has a 1 year low of $19.30 and a 1 year high of $29.50.

TrueBlue (NYSE:TBI) last posted its quarterly earnings data on Monday, October 30th. The business services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $660.78 million during the quarter, compared to analyst estimates of $651.91 million. TrueBlue had a net margin of 2.22% and a return on equity of 14.05%. TrueBlue’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.70 EPS. analysts anticipate that TrueBlue, Inc. will post 1.7 EPS for the current year.

TrueBlue announced that its board has authorized a stock repurchase program on Monday, October 30th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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TrueBlue Company Profile

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.

Institutional Ownership by Quarter for TrueBlue (NYSE:TBI)

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