Federated Hermes Inc. reduced its stake in shares of TrueBlue, Inc. (NYSE:TBI – Free Report) by 96.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,065 shares of the business services provider’s stock after selling 56,331 shares during the period. Federated Hermes Inc.’s holdings in TrueBlue were worth $32,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently added to or reduced their stakes in TBI. SG Americas Securities LLC acquired a new stake in shares of TrueBlue in the third quarter valued at approximately $259,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of TrueBlue by 46.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,483 shares of the business services provider’s stock valued at $168,000 after acquiring an additional 3,635 shares in the last quarter. Strs Ohio increased its position in shares of TrueBlue by 22.9% during the 3rd quarter. Strs Ohio now owns 41,900 shares of the business services provider’s stock valued at $614,000 after purchasing an additional 7,800 shares during the period. Allspring Global Investments Holdings LLC raised its position in TrueBlue by 629.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 36,332 shares of the business services provider’s stock worth $533,000 after acquiring an additional 31,354 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of TrueBlue in the 3rd quarter worth approximately $1,451,000. 97.15% of the stock is owned by institutional investors and hedge funds.
TrueBlue Stock Performance
TrueBlue stock opened at $10.57 on Wednesday. The company has a 50 day moving average price of $11.40 and a 200 day moving average price of $12.88. TrueBlue, Inc. has a 52 week low of $10.15 and a 52 week high of $19.06. The firm has a market capitalization of $331.62 million, a price-to-earnings ratio of -23.48 and a beta of 1.51.
Analyst Upgrades and Downgrades
Separately, Robert W. Baird reduced their target price on TrueBlue from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday.
Check Out Our Latest Research Report on TrueBlue
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.
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