TrueBlue, Inc. (NYSE:TBI) Position Trimmed by Prudential Financial Inc.

Prudential Financial Inc. reduced its holdings in TrueBlue, Inc. (NYSE:TBI) by 5.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 400,520 shares of the business services provider’s stock after selling 23,500 shares during the quarter. Prudential Financial Inc. owned approximately 1.35% of TrueBlue worth $3,364,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. BNP Paribas Financial Markets lifted its holdings in TrueBlue by 230.1% in the third quarter. BNP Paribas Financial Markets now owns 46,687 shares of the business services provider’s stock worth $368,000 after acquiring an additional 32,542 shares during the last quarter. Barclays PLC lifted its holdings in shares of TrueBlue by 95.7% in the 3rd quarter. Barclays PLC now owns 67,353 shares of the business services provider’s stock worth $531,000 after purchasing an additional 32,940 shares during the last quarter. State Street Corp lifted its holdings in shares of TrueBlue by 0.3% in the 3rd quarter. State Street Corp now owns 665,901 shares of the business services provider’s stock worth $5,254,000 after purchasing an additional 1,968 shares during the last quarter. Walleye Capital LLC acquired a new position in TrueBlue during the 3rd quarter valued at approximately $227,000. Finally, Quantinno Capital Management LP bought a new position in TrueBlue during the 3rd quarter worth $149,000. 97.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at TrueBlue

In related news, CFO Carl Schweihs purchased 10,000 shares of the company’s stock in a transaction on Monday, February 24th. The shares were bought at an average cost of $6.25 per share, for a total transaction of $62,500.00. Following the transaction, the chief financial officer now owns 166,551 shares of the company’s stock, valued at $1,040,943.75. This represents a 6.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Taryn R. Owen purchased 12,735 shares of TrueBlue stock in a transaction dated Wednesday, February 26th. The stock was bought at an average cost of $5.94 per share, with a total value of $75,645.90. Following the completion of the purchase, the chief executive officer now owns 414,932 shares in the company, valued at approximately $2,464,696.08. This trade represents a 3.17 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 25,235 shares of company stock worth $151,271 over the last ninety days. 4.00% of the stock is currently owned by corporate insiders.

TrueBlue Stock Performance

TBI opened at $5.31 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 1.85 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $6.60 and its 200-day moving average is $7.34. The stock has a market cap of $157.84 million, a PE ratio of -1.28, a price-to-earnings-growth ratio of 3.01 and a beta of 1.35. TrueBlue, Inc. has a twelve month low of $5.07 and a twelve month high of $12.29.

TrueBlue (NYSE:TBI) last announced its earnings results on Wednesday, February 19th. The business services provider reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.14. TrueBlue had a negative return on equity of 3.90% and a negative net margin of 8.02%. The firm had revenue of $385.95 million for the quarter, compared to the consensus estimate of $385.04 million. On average, analysts predict that TrueBlue, Inc. will post 0.15 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded TrueBlue from a “sell” rating to a “hold” rating in a research note on Sunday, March 2nd.

TrueBlue Profile

TrueBlue, Inc, together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, the United Kingdom, Australia, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The company PeopleReady segment provides general, industrial, and skilled trade contingent staffing services for construction, transportation, manufacturing, retail, hospitality, and renewable energy industries.