56,868 Shares in TrueBlue, Inc. (NYSE:TBI) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of TrueBlue, Inc. (NYSE:TBI) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 56,868 shares of the business services provider’s stock, valued at approximately $478,000. Raymond James Financial Inc. owned approximately 0.19% of TrueBlue at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TBI. FMR LLC increased its position in shares of TrueBlue by 10.0% in the 3rd quarter. FMR LLC now owns 1,742,474 shares of the business services provider’s stock valued at $13,748,000 after acquiring an additional 158,967 shares during the period. BNP Paribas Financial Markets grew its stake in TrueBlue by 230.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 46,687 shares of the business services provider’s stock valued at $368,000 after purchasing an additional 32,542 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of TrueBlue in the third quarter valued at about $227,000. Quantinno Capital Management LP purchased a new position in shares of TrueBlue in the third quarter worth about $149,000. Finally, State Street Corp lifted its holdings in shares of TrueBlue by 0.3% during the third quarter. State Street Corp now owns 665,901 shares of the business services provider’s stock worth $5,254,000 after purchasing an additional 1,968 shares during the period. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Insiders Place Their Bets

In other TrueBlue news, CEO Taryn R. Owen acquired 12,735 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was acquired at an average cost of $5.94 per share, for a total transaction of $75,645.90. Following the completion of the transaction, the chief executive officer now directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Carl Schweihs bought 10,000 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were acquired at an average price of $6.25 per share, for a total transaction of $62,500.00. Following the transaction, the chief financial officer now directly owns 166,551 shares in the company, valued at approximately $1,040,943.75. This represents a 6.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 25,235 shares of company stock worth $151,271. Company insiders own 4.00% of the company’s stock.

Wall Street Analyst Weigh In

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

TrueBlue Price Performance

Shares of TBI opened at $4.73 on Wednesday. The business’s 50-day moving average is $6.25 and its two-hundred day moving average is $7.22. The company has a market capitalization of $140.37 million, a P/E ratio of -1.14, a P/E/G ratio of 3.01 and a beta of 1.42. TrueBlue, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $12.29. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.85 and a current ratio of 1.73.

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

About TrueBlue

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.