Systematic Financial Management LP Grows Position in TrueBlue, Inc. (TBI)

Systematic Financial Management LP increased its position in shares of TrueBlue, Inc. (NYSE:TBI) by 127,460.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 63,780 shares of the business services provider’s stock after buying an additional 63,730 shares during the quarter. Systematic Financial Management LP owned about 0.15% of TrueBlue worth $1,690,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of TrueBlue by 50,858.0% in the 1st quarter. BlackRock Inc. now owns 5,165,614 shares of the business services provider’s stock valued at $141,280,000 after purchasing an additional 5,155,477 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of TrueBlue by 114.6% in the 1st quarter. JPMorgan Chase & Co. now owns 1,085,196 shares of the business services provider’s stock valued at $29,681,000 after purchasing an additional 579,545 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of TrueBlue by 41.1% in the 1st quarter. Alliancebernstein L.P. now owns 1,345,671 shares of the business services provider’s stock valued at $36,804,000 after purchasing an additional 391,674 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of TrueBlue by 8.5% in the 1st quarter. Vanguard Group Inc. now owns 3,892,823 shares of the business services provider’s stock valued at $106,469,000 after purchasing an additional 305,994 shares during the last quarter. Finally, FMR LLC grew its stake in shares of TrueBlue by 32.5% in the 1st quarter. FMR LLC now owns 1,041,300 shares of the business services provider’s stock valued at $28,480,000 after purchasing an additional 255,207 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Shares of TrueBlue, Inc. (TBI) opened at 20.90 on Friday. TrueBlue, Inc. has a 12-month low of $16.50 and a 12-month high of $28.70. The stock has a 50 day moving average price of $20.81 and a 200 day moving average price of $25.21. The firm has a market capitalization of $868.98 million, a PE ratio of 14.76 and a beta of 2.38.

TrueBlue (NYSE:TBI) last issued its quarterly earnings data on Monday, July 31st. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. TrueBlue had a return on equity of 15.18% and a net margin of 2.27%. The business had revenue of $610.10 million during the quarter, compared to analyst estimates of $610.04 million. During the same period in the prior year, the company posted $0.54 EPS. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. Analysts predict that TrueBlue, Inc. will post $1.69 EPS for the current fiscal year.

In related news, EVP Wayne W. Larkin sold 10,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $20.38, for a total value of $203,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

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Several brokerages have weighed in on TBI. ValuEngine downgraded TrueBlue from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. BMO Capital Markets reissued a “hold” rating and issued a $23.00 price target (down from $26.00) on shares of TrueBlue in a report on Friday, August 11th. BidaskClub cut TrueBlue from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. TheStreet raised TrueBlue from a “c” rating to a “b” rating in a report on Monday, July 31st. Finally, Zacks Investment Research cut TrueBlue from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. TrueBlue has an average rating of “Hold” and a consensus target price of $21.25.

About TrueBlue

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.

Institutional Ownership by Quarter for TrueBlue (NYSE:TBI)

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