Alpha Windward LLC Has $490,000 Position in Trueblue Inc (TBI)
Alpha Windward LLC trimmed its stake in shares of Trueblue Inc (NYSE:TBI) by 23.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,820 shares of the business services provider’s stock after selling 5,580 shares during the quarter. Alpha Windward LLC’s holdings in Trueblue were worth $490,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio grew its stake in Trueblue by 5.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 35,447 shares of the business services provider’s stock worth $939,000 after purchasing an additional 1,788 shares in the last quarter. SG Americas Securities LLC grew its stake in Trueblue by 8.2% during the 3rd quarter. SG Americas Securities LLC now owns 38,164 shares of the business services provider’s stock worth $857,000 after purchasing an additional 2,885 shares in the last quarter. Sterling Capital Management LLC grew its stake in Trueblue by 8.3% during the 2nd quarter. Sterling Capital Management LLC now owns 39,795 shares of the business services provider’s stock worth $1,055,000 after purchasing an additional 3,051 shares in the last quarter. Meeder Asset Management Inc. grew its stake in Trueblue by 192.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 4,706 shares of the business services provider’s stock worth $106,000 after purchasing an additional 3,098 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in Trueblue by 5.0% during the 2nd quarter. New York State Common Retirement Fund now owns 78,099 shares of the business services provider’s stock worth $2,070,000 after purchasing an additional 3,736 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP James E. Defebaugh sold 7,500 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $28.16, for a total transaction of $211,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Taryn R. Owen sold 9,000 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $26.08, for a total value of $234,720.00. Following the transaction, the executive vice president now directly owns 13,084 shares of the company’s stock, valued at $341,230.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,985 shares of company stock valued at $1,939,509. Insiders own 2.00% of the company’s stock.
Trueblue (NYSE:TBI) last released its quarterly earnings data on Monday, October 30th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The business had revenue of $660.78 million during the quarter, compared to analysts’ expectations of $651.91 million. Trueblue had a return on equity of 14.05% and a net margin of 2.22%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.70 EPS. equities research analysts predict that Trueblue Inc will post 1.7 earnings per share for the current year.
Trueblue announced that its board has authorized a stock buyback plan on Monday, October 30th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
Several research analysts recently commented on the company. TheStreet raised Trueblue from a “c+” rating to a “b” rating in a research note on Friday, November 17th. Zacks Investment Research cut Trueblue from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. BMO Capital Markets boosted their target price on Trueblue from $23.00 to $26.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 1st. ValuEngine raised Trueblue from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Finally, Robert W. Baird upped their price objective on Trueblue from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.00.
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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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