Russell Investments Group Ltd. Purchases 96,340 Shares of TrueBlue, Inc. (NYSE:TBI)

Russell Investments Group Ltd. lifted its position in TrueBlue, Inc. (NYSE:TBI) by 189.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 147,200 shares of the business services provider’s stock after purchasing an additional 96,340 shares during the period. Russell Investments Group Ltd. owned about 0.50% of TrueBlue worth $1,236,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TBI. SG Americas Securities LLC purchased a new position in TrueBlue during the fourth quarter valued at $108,000. Proficio Capital Partners LLC bought a new stake in shares of TrueBlue during the 4th quarter valued at $116,000. Wells Fargo & Company MN increased its position in TrueBlue by 24.7% in the fourth quarter. Wells Fargo & Company MN now owns 17,112 shares of the business services provider’s stock worth $144,000 after buying an additional 3,393 shares in the last quarter. Boston Partners bought a new position in shares of TrueBlue in the fourth quarter worth approximately $265,000. Finally, Raymond James Financial Inc. bought a new stake in TrueBlue during the fourth quarter valued at about $478,000. 97.15% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Taryn R. Owen acquired 12,735 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was bought at an average cost of $5.94 per share, with a total value of $75,645.90. Following the transaction, the chief executive officer now owns 414,932 shares of the company’s stock, valued at $2,464,696.08. The trade was a 3.17 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Carl Schweihs purchased 10,000 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were purchased at an average price of $6.25 per share, for a total transaction of $62,500.00. Following the completion of the purchase, the chief financial officer now owns 166,551 shares of the company’s stock, valued at approximately $1,040,943.75. This trade represents a 6.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 25,235 shares of company stock valued at $151,271. 5.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

TrueBlue Trading Up 1.3 %

Shares of NYSE:TBI opened at $4.25 on Monday. The business’s 50 day moving average price is $5.64 and its 200-day moving average price is $7.02. TrueBlue, Inc. has a 1 year low of $3.95 and a 1 year high of $12.29. The firm has a market capitalization of $126.38 million, a price-to-earnings ratio of -1.02, a price-to-earnings-growth ratio of 3.01 and a beta of 1.42. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.73 and a quick ratio of 1.85.

TrueBlue (NYSE:TBI) last announced its earnings results on Wednesday, February 19th. The business services provider reported ($0.02) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $385.95 million for the quarter, compared to the consensus estimate of $385.04 million. On average, equities research analysts forecast that TrueBlue, Inc. will post 0.15 earnings per share for the current fiscal 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.