JPMorgan Chase & Co. Grows Position in TrueBlue, Inc. (NYSE:TBI)

JPMorgan Chase & Co. lifted its holdings in TrueBlue, Inc. (NYSE:TBI) by 99.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 218,552 shares of the business services provider’s stock after buying an additional 109,041 shares during the period. JPMorgan Chase & Co. owned about 0.74% of TrueBlue worth $1,836,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Barclays PLC increased its stake in TrueBlue by 95.7% during the third quarter. Barclays PLC now owns 67,353 shares of the business services provider’s stock worth $531,000 after acquiring an additional 32,940 shares during the last quarter. State Street Corp increased its position in shares of TrueBlue by 0.3% during the 3rd quarter. State Street Corp now owns 665,901 shares of the business services provider’s stock valued at $5,254,000 after purchasing an additional 1,968 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in TrueBlue during the 4th quarter valued at $478,000. Proficio Capital Partners LLC bought a new stake in TrueBlue in the fourth quarter worth $978,000. Finally, SG Americas Securities LLC purchased a new position in TrueBlue during the fourth quarter worth $108,000. 97.15% of the stock is currently owned by hedge funds and other institutional investors.

TrueBlue Trading Up 1.1 %

Shares of NYSE TBI opened at $4.46 on Friday. TrueBlue, Inc. has a fifty-two week low of $3.95 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. The company has a market cap of $132.50 million, a price-to-earnings ratio of -1.07, a PEG ratio of 3.01 and a beta of 1.42. The business’s 50 day moving average price is $5.39 and its 200-day moving average price is $6.94.

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

Insider Buying and Selling at TrueBlue

In other news, CEO Taryn R. Owen purchased 12,735 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average price 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. This represents a 3.17 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Carl Schweihs acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was purchased at an average price of $6.25 per share, with a total value of $62,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 166,551 shares of the company’s stock, valued at $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. Insiders purchased a total of 25,235 shares of company stock valued at $151,271 in the last three months. Company insiders own 5.00% of the company’s stock.

Analysts Set New Price Targets

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

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.