Seizert Capital Partners LLC Trims Holdings in Trueblue Inc (NYSE:TBI)

Seizert Capital Partners LLC reduced its holdings in shares of Trueblue Inc (NYSE:TBI) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,818 shares of the business services provider’s stock after selling 3,679 shares during the quarter. Seizert Capital Partners LLC owned 0.21% of Trueblue worth $1,849,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TBI. Sterling Investment Advisors Ltd. raised its position in shares of Trueblue by 100.0% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 4,000 shares of the business services provider’s stock valued at $95,000 after acquiring an additional 2,000 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Trueblue by 140.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,975 shares of the business services provider’s stock valued at $236,000 after acquiring an additional 5,835 shares in the last quarter. Bailard Inc. acquired a new stake in shares of Trueblue during the 2nd quarter valued at approximately $236,000. Piedmont Investment Advisors Inc. raised its position in shares of Trueblue by 4.6% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 10,074 shares of the business services provider’s stock valued at $238,000 after acquiring an additional 443 shares in the last quarter. Finally, First Midwest Bank Trust Division acquired a new stake in shares of Trueblue during the 1st quarter valued at approximately $276,000. Institutional investors own 93.19% of the company’s stock.

In other news, EVP Taryn R. Owen sold 7,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $19.51, for a total transaction of $136,570.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey B. Sakaguchi sold 30,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $19.70, for a total value of $591,000.00. Following the transaction, the director now directly owns 38,575 shares in the company, valued at $759,927.50. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Several equities research analysts have weighed in on TBI shares. TheStreet lowered Trueblue from a “b-” rating to a “c+” rating in a research report on Tuesday, May 14th. Robert W. Baird dropped their target price on Trueblue from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th. ValuEngine raised Trueblue from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 8th. Finally, Zacks Investment Research lowered Trueblue from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The stock has an average rating of “Hold” and a consensus price target of $25.50.

NYSE TBI traded down $0.66 during trading hours on Friday, hitting $18.88. The company had a trading volume of 275,548 shares, compared to its average volume of 285,016. Trueblue Inc has a fifty-two week low of $18.62 and a fifty-two week high of $29.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $20.86 and a 200-day simple moving average of $22.57. The firm has a market cap of $782.97 million, a P/E ratio of 8.46 and a beta of 1.61.

Trueblue (NYSE:TBI) last issued its quarterly earnings results on Monday, July 29th. The business services provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.06. The company had revenue of $588.59 million for the quarter, compared to analyst estimates of $615.94 million. Trueblue had a return on equity of 15.36% and a net margin of 2.71%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share. Equities analysts forecast that Trueblue Inc will post 2.01 EPS for the current fiscal year.

Trueblue Company Profile

TrueBlue, Inc provides contingent staffing, recruitment process outsourcing, and contingent staffing management services in the United States, Canada, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The PeopleReady segment offers a range of staffing solutions for blue-collar, contingent on-demand, and skilled labor in construction, manufacturing and logistics, warehousing and distribution, waste and recycling, energy, retail, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.

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Institutional Ownership by Quarter for Trueblue (NYSE:TBI)

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