TrueBlue (NYSE:TBI) Director Sonita Lontoh Sells 2,186 Shares of Stock

TrueBlue, Inc. (NYSE:TBI) Director Sonita Lontoh sold 2,186 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $6.73, for a total value of $14,711.78. Following the completion of the transaction, the director directly owned 72,733 shares of the company’s stock, valued at $489,493.09. The trade was a 2.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

TrueBlue Trading Up 0.6%

Shares of NYSE:TBI opened at $6.67 on Tuesday. TrueBlue, Inc. has a 12-month low of $3.18 and a 12-month high of $7.78. The company has a market capitalization of $202.68 million, a PE ratio of -3.75 and a beta of 1.64. The business has a 50 day moving average of $5.06 and a two-hundred day moving average of $4.77. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.29.

TrueBlue (NYSE:TBI) last announced its quarterly earnings results on Tuesday, May 5th. The business services provider reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.04. TrueBlue had a negative return on equity of 7.37% and a negative net margin of 3.25%.The company had revenue of $398.57 million during the quarter, compared to the consensus estimate of $390.51 million. As a group, analysts forecast that TrueBlue, Inc. will post -0.09 EPS for the current year.

Institutional Trading of TrueBlue

A number of institutional investors and hedge funds have recently made changes to their positions in TBI. Boston Partners increased its position in shares of TrueBlue by 107.7% in the third quarter. Boston Partners now owns 1,614,404 shares of the business services provider’s stock valued at $9,895,000 after buying an additional 837,123 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of TrueBlue by 32.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,012,217 shares of the business services provider’s stock valued at $9,156,000 after buying an additional 492,984 shares in the last quarter. Prosight Management LP increased its position in shares of TrueBlue by 456.8% in the fourth quarter. Prosight Management LP now owns 442,554 shares of the business services provider’s stock valued at $2,014,000 after buying an additional 363,078 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of TrueBlue by 80.8% in the fourth quarter. Russell Investments Group Ltd. now owns 656,233 shares of the business services provider’s stock valued at $2,986,000 after buying an additional 293,363 shares in the last quarter. Finally, Invenomic Capital Management LP increased its position in shares of TrueBlue by 60.5% in the fourth quarter. Invenomic Capital Management LP now owns 442,225 shares of the business services provider’s stock valued at $2,012,000 after buying an additional 166,660 shares in the last quarter. 97.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings raised TrueBlue from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 28th. Wall Street Zen cut TrueBlue from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Robert W. Baird set a $5.50 price objective on TrueBlue in a research report on Thursday, February 19th. Finally, Zacks Research upgraded TrueBlue from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, TrueBlue has a consensus rating of “Hold” and a consensus target price of $5.75.

About TrueBlue

TrueBlue, Inc is a Tacoma, Washington–based workforce solutions provider specializing in temporary staffing, permanent placement and managed service solutions. Operating through its subsidiaries and brands, TrueBlue connects clients across manufacturing, logistics, retail, construction and public sector markets with skilled professionals for both short-term and long-term engagements. The company’s offerings encompass on-demand blue-collar labor, specialized industrial staffing, recruitment process outsourcing (RPO) and contingent workforce management.

TrueBlue’s primary service lines include PeopleReady, which supplies general labor for construction, hospitality and event services; PeopleManagement, which focuses on technical and industrial professionals; PeopleScout, a global RPO business offering end-to-end talent acquisition and consulting; and Staff Management | SMX, which delivers seasonal staffing for large-scale events, amusement parks and federal workforce contracts.