Great West Life Assurance Co. Can Lowers Stake in TrueBlue, Inc. (NYSE:TBI)


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Great West Life Assurance Co. Can lowered its position in shares of TrueBlue, Inc. (NYSE:TBI) by 6.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,369 shares of the business services provider’s stock after selling 2,944 shares during the quarter. Great West Life Assurance Co. Can owned 0.11% of TrueBlue worth $626,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of TBI. Point72 Hong Kong Ltd purchased a new position in shares of TrueBlue in the third quarter worth $37,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of TrueBlue in the third quarter worth $40,000. Aigen Investment Management LP purchased a new position in shares of TrueBlue in the third quarter worth $125,000. BNP Paribas Arbitrage SA lifted its holdings in shares of TrueBlue by 170.1% in the third quarter. BNP Paribas Arbitrage SA now owns 9,092 shares of the business services provider’s stock worth $141,000 after buying an additional 5,726 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of TrueBlue in the third quarter worth $160,000. 95.02% of the stock is currently owned by institutional investors and hedge funds.

TBI stock opened at $19.47 on Thursday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.04. TrueBlue, Inc. has a twelve month low of $12.02 and a twelve month high of $24.00. The stock has a market capitalization of $690.66 million, a price-to-earnings ratio of -5.79 and a beta of 1.81. The firm’s fifty day simple moving average is $19.44 and its two-hundred day simple moving average is $16.86.

TrueBlue (NYSE:TBI) last posted its quarterly earnings data on Monday, October 26th. The business services provider reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.22. TrueBlue had a negative net margin of 5.92% and a positive return on equity of 7.74%. The business had revenue of $474.53 million for the quarter, compared to analysts’ expectations of $453.92 million. During the same quarter in the previous year, the business posted $0.76 earnings per share. The business’s revenue was down 25.5% compared to the same quarter last year. As a group, equities research analysts expect that TrueBlue, Inc. will post 0.17 EPS for the current year.

TBI has been the topic of a number of recent research reports. Credit Suisse Group upped their price target on shares of TrueBlue from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Tuesday, October 27th. Northcoast Research downgraded shares of TrueBlue from a “buy” rating to a “neutral” rating in a research note on Monday, December 14th. BMO Capital Markets raised shares of TrueBlue from a “market perform” rating to an “outperform” rating and upped their price target for the company from $18.00 to $24.00 in a research note on Monday, November 23rd. Sidoti upped their price target on shares of TrueBlue from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, October 1st. Finally, TheStreet raised shares of TrueBlue from a “d+” rating to a “c” rating in a research note on Monday, November 23rd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. TrueBlue currently has an average rating of “Hold” and an average price target of $18.40.

In other TrueBlue news, Director Colleen B. Brown sold 5,000 shares of the business’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $17.94, for a total transaction of $89,700.00. Following the transaction, the director now owns 15,695 shares in the company, valued at $281,568.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.

TrueBlue Profile

TrueBlue, Inc, together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The PeopleReady segment offers a range of contingent staffing solutions for blue-collar, on-demand, and skilled labor in construction, manufacturing and logistics, warehousing and distribution, waste and recycling, energy, retail, hospitality, general labor, and other industries.

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Institutional Ownership by Quarter for TrueBlue (NYSE:TBI)

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