Insider Selling: TrueBlue, Inc. (NYSE: TBI) Director Sells 5,323 Shares

TrueBlue, Inc. (NYSE: BITGet a rating) Manager William C. Goings sold 5,323 shares in a trade on Thursday, October 27. The stock was sold at an average price of $20.01, for a total transaction of $106,513.23. Following the sale, the director now owns 19,498 shares of the company, valued at $390,154.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website.

TrueBlue stock up 3.4%

NYSE: BIT traded at $0.67 during the midday session on Friday, reaching $20.58. 206,161 shares of the stock have been traded, compared to its average volume of 211,095. The company’s 50-day moving average price is $20.48 and its 200-day moving average price is 21. $32. The company has a market capitalization of $673.36 million, a PE ratio of 9.27 and a beta of 1.49. TrueBlue, Inc. has a 12 month minimum of $15.77 and a 12 month maximum of $30.32.

True blue (NYSE: BITGet a rating) last released its quarterly earnings data on Monday, October 24. The business services provider reported EPS of $0.75 for the quarter, matching the consensus estimate of $0.75. TrueBlue had a net margin of 3.25% and a return on equity of 19.17%. The company posted revenue of $575.72 million in the quarter, compared to $587.22 million expected by analysts. In the same quarter of the previous year, the company had earned earnings per share of $0.59. TrueBlue’s revenue for the quarter decreased 0.2% on an annual basis.

Institutional investors weigh in on TrueBlue

Several hedge funds have recently bought and sold shares of the stock. Mutual of America Capital Management LLC increased its position in TrueBlue by 9.3% during the second quarter. Mutual of America Capital Management LLC now owns 5,588 shares of the business services provider valued at $100,000 after buying 475 additional shares in the last quarter. Money Concepts Capital Corp increased its position in TrueBlue by 8.3% during the third quarter. Money Concepts Capital Corp now owns 10,135 shares of the business services provider valued at $193,000 after buying an additional 781 shares in the last quarter. Lazard Asset Management LLC increased its position in TrueBlue by 25.7% during the second quarter. Lazard Asset Management LLC now owns 3,851 shares of the business services provider valued at $68,000 after purchasing an additional 787 shares in the last quarter. Bank of New York Mellon Corp increased its position in TrueBlue by 0.3% during the first quarter. Bank of New York Mellon Corp now owns 359,658 shares of the business services provider valued at $10,392,000 after buying 1,017 additional shares in the last quarter. Finally, Captrust Financial Advisors increased its position in TrueBlue by 37.4% during the first quarter. Captrust Financial Advisors now owns 3,852 shares of the business services provider valued at $111,000 after buying an additional 1,048 shares in the last quarter. 97.15% of the shares are currently held by institutional investors.

Analyst upgrades and downgrades

The TBI has been the subject of several research reports. StockNews.com cut shares of TrueBlue from a “strong buy” rating to a “buy” rating in a report on Friday. Robert W. Baird lowered his price target on shares of TrueBlue to $21.00 in a research report on Tuesday.

TrueBlue Company Profile

(Get a rating)

TrueBlue, Inc, together with its subsidiaries, provides specialized workforce solutions in the United States, Canada and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement and PeopleScout. The PeopleReady segment offers staffing solutions for blue-collar, on-demand and skilled labor in construction, manufacturing and logistics, warehousing and distribution, waste and recycling, energy, retail, hospitality and general labor.

Further reading

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