Bank of New York Mellon Corp Trims Stake in TrueBlue, Inc. (NYSE:TBI)

Bank of New York Mellon Corp lessened its position in TrueBlue, Inc. (NYSE:TBI) by 18.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 86,566 shares of the business services provider’s stock after selling 19,575 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.29% of TrueBlue worth $727,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in TBI. Empowered Funds LLC raised its holdings in TrueBlue by 5.1% in the fourth quarter. Empowered Funds LLC now owns 172,069 shares of the business services provider’s stock worth $1,445,000 after purchasing an additional 8,327 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of TrueBlue in the 4th quarter worth about $108,000. Barclays PLC increased its stake in shares of TrueBlue by 95.7% in the 3rd 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 in the last quarter. Y Intercept Hong Kong Ltd lifted its position in TrueBlue by 97.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 40,194 shares of the business services provider’s stock valued at $317,000 after acquiring an additional 19,799 shares during the period. Finally, State Street Corp boosted its stake in 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 acquiring an additional 1,968 shares in the last quarter. 97.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity at TrueBlue

In related news, CEO Taryn R. Owen purchased 12,735 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average price of $5.94 per share, with a total value of $75,645.90. Following the acquisition, the chief executive officer now directly owns 414,932 shares in the company, valued at $2,464,696.08. The trade was a 3.17 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Carl Schweihs purchased 10,000 shares of TrueBlue stock in a transaction dated Monday, February 24th. The stock was bought at an average price of $6.25 per share, with a total value of $62,500.00. Following the completion of the purchase, the chief financial officer now directly 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. Insiders bought 25,235 shares of company stock valued at $151,271 over the last 90 days. Corporate insiders own 4.00% of the company’s stock.

TrueBlue Trading Down 1.0 %

TrueBlue stock opened at $5.59 on Thursday. TrueBlue, Inc. has a 12 month low of $5.19 and a 12 month high of $12.66. The company has a current ratio of 1.73, a quick ratio of 1.85 and a debt-to-equity ratio of 0.02. The business’s fifty day simple moving average is $6.79 and its two-hundred day simple moving average is $7.40. The company has a market capitalization of $165.92 million, a price-to-earnings ratio of -1.34, a price-to-earnings-growth ratio of 3.01 and a beta of 1.35.

TrueBlue (NYSE:TBI) last announced its quarterly earnings data on Wednesday, February 19th. The business services provider reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.14. The company had revenue of $385.95 million for the quarter, compared to the consensus estimate of $385.04 million. TrueBlue had a negative net margin of 8.02% and a negative return on equity of 3.90%. As a group, equities analysts predict that TrueBlue, Inc. will post 0.15 earnings per share for the current fiscal year.

TrueBlue Company 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.