Commonwealth Equity Services LLC Trims Stock Position in TrueBlue, Inc. (NYSE:TBI)

Commonwealth Equity Services LLC trimmed its holdings in TrueBlue, Inc. (NYSE:TBI) by 5.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 12,399 shares of the business services provider’s stock after selling 702 shares during the period. Commonwealth Equity Services LLC’s holdings in TrueBlue were worth $335,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TBI. O Shaughnessy Asset Management LLC purchased a new stake in shares of TrueBlue in the second quarter valued at about $212,000. Citigroup Inc. raised its holdings in shares of TrueBlue by 80.0% in the second quarter. Citigroup Inc. now owns 33,337 shares of the business services provider’s stock valued at $937,000 after buying an additional 14,820 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in shares of TrueBlue by 7.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 14,514 shares of the business services provider’s stock valued at $408,000 after buying an additional 1,014 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of TrueBlue by 5,713.3% in the second quarter. Panagora Asset Management Inc. now owns 70,050 shares of the business services provider’s stock valued at $1,969,000 after buying an additional 68,845 shares during the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of TrueBlue in the second quarter valued at about $6,233,000. 95.21% of the stock is owned by institutional investors and hedge funds.

Shares of TrueBlue stock opened at $29.30 on Friday. TrueBlue, Inc. has a 52-week low of $18.54 and a 52-week high of $32.91. The company’s 50-day simple moving average is $27.38 and its 200-day simple moving average is $27.58. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 20.78 and a beta of 1.54.

TrueBlue (NYSE:TBI) last issued its quarterly earnings results on Sunday, October 24th. The business services provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). TrueBlue had a return on equity of 12.55% and a net margin of 2.39%. The firm had revenue of $577.03 million for the quarter, compared to analyst estimates of $570.85 million. During the same quarter last year, the firm earned $0.24 earnings per share. The company’s revenue was up 21.6% compared to the same quarter last year.

Separately, Robert W. Baird upped their target price on shares of TrueBlue from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, October 26th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $30.33.

TrueBlue Profile

TrueBlue, Inc engages in the provision of staffing, recruitment process outsourcing and managed service provider solutions. It operates through the following segments: PeopleReady, PeopleManagement and PeopleScout. The PeopleReady segment offers staffing solutions for blue-collar, contingent on-demand and skilled labor to a broad range of industries that include retail, manufacturing, warehousing, logistics, energy, construction, hospitality and others.

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Institutional Ownership by Quarter for TrueBlue (NYSE:TBI)

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