Pzena Investment Management LLC Boosts Position in TrueBlue, Inc. (NYSE:TBI)

Pzena Investment Management LLC boosted its holdings in TrueBlue, Inc. (NYSE:TBI) by 0.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,788,628 shares of the business services provider’s stock after buying an additional 8,511 shares during the period. Pzena Investment Management LLC owned approximately 0.09% of TrueBlue worth $23,424,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. State Street Corp raised its holdings in TrueBlue by 0.3% in the third quarter. State Street Corp now owns 665,901 shares of the business services provider’s stock valued at $5,254,000 after buying an additional 1,968 shares during the period. Empowered Funds LLC grew its position in TrueBlue by 5.1% in the fourth quarter. Empowered Funds LLC now owns 172,069 shares of the business services provider’s stock valued at $1,445,000 after acquiring an additional 8,327 shares in the last quarter. Quantbot Technologies LP acquired a new stake in TrueBlue in the third quarter valued at approximately $79,000. SG Americas Securities LLC acquired a new stake in TrueBlue in the fourth quarter valued at approximately $108,000. Finally, Proficio Capital Partners LLC acquired a new stake in TrueBlue in the fourth quarter valued at approximately $116,000. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised shares of TrueBlue from a “sell” rating to a “hold” rating in a research report on Sunday, March 2nd.

TrueBlue Stock Down 3.8 %

Shares of NYSE:TBI opened at $5.49 on Tuesday. The company has a quick ratio of 1.85, a current ratio of 1.73 and a debt-to-equity ratio of 0.02. TrueBlue, Inc. has a 52-week low of $5.46 and a 52-week high of $12.66. The company has a 50 day moving average of $7.30 and a two-hundred day moving average of $7.59. The company has a market capitalization of $162.95 million, a price-to-earnings ratio of -1.32, a price-to-earnings-growth ratio of 3.01 and a beta of 1.35.

TrueBlue (NYSE:TBI) last released its quarterly earnings results on Wednesday, February 19th. The business services provider reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.14. TrueBlue had a negative net margin of 8.02% and a negative return on equity of 3.90%. The business had revenue of $385.95 million during the quarter, compared to the consensus estimate of $385.04 million. As a group, analysts forecast that TrueBlue, Inc. will post 0.15 earnings per share for the current fiscal year.

Insider Transactions at TrueBlue

In related news, CEO Taryn R. Owen purchased 12,735 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was acquired at an average price of $5.94 per share, with a total value of $75,645.90. Following the completion of the transaction, the chief executive officer now owns 414,932 shares of the company’s stock, valued at $2,464,696.08. This represents a 3.17 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Carl Schweihs purchased 10,000 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were bought at an average cost of $6.25 per share, with a total value of $62,500.00. Following the transaction, the chief financial officer now directly owns 166,551 shares of the company’s stock, valued at approximately $1,040,943.75. This represents a 6.39 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 4.00% of the company’s stock.

TrueBlue Company 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.