Dalton Greiner Hartman Maher & Co. Decreases Position in TrueBlue Inc. (TBI)
Dalton Greiner Hartman Maher & Co. lowered its stake in shares of TrueBlue Inc. (NYSE:TBI) by 51.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 520,284 shares of the company’s stock after selling 552,153 shares during the period. Dalton Greiner Hartman Maher & Co. owned approximately 1.26% of TrueBlue worth $11,790,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in TBI. Royce & Associates LP raised its position in shares of TrueBlue by 12.0% in the second quarter. Royce & Associates LP now owns 2,195,486 shares of the company’s stock valued at $41,539,000 after buying an additional 234,449 shares during the period. Cortina Asset Management LLC purchased a new position in shares of TrueBlue during the second quarter valued at $4,077,000. First Midwest Bank Trust Division raised its position in shares of TrueBlue by 46.7% in the second quarter. First Midwest Bank Trust Division now owns 15,060 shares of the company’s stock valued at $285,000 after buying an additional 4,794 shares during the period. Emerald Acquisition Ltd. purchased a new position in shares of TrueBlue during the second quarter valued at $2,005,000. Finally, PineBridge Investments L.P. raised its position in shares of TrueBlue by 4.8% in the second quarter. PineBridge Investments L.P. now owns 5,385 shares of the company’s stock valued at $102,000 after buying an additional 249 shares during the period. 91.65% of the stock is owned by institutional investors and hedge funds.
Shares of TrueBlue Inc. (NYSE:TBI) traded up 0.47% during midday trading on Monday, hitting $21.20. The company had a trading volume of 256,661 shares. TrueBlue Inc. has a 1-year low of $16.50 and a 1-year high of $30.08. The firm’s market capitalization is $874.39 million. The stock has a 50 day moving average price of $19.40 and a 200 day moving average price of $20.56.
TrueBlue (NYSE:TBI) last posted its earnings results on Wednesday, October 19th. The company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by $0.05. TrueBlue had a positive return on equity of 16.47% and a negative net margin of 0.18%. The company earned $697.10 million during the quarter, compared to the consensus estimate of $715.69 million. During the same period last year, the firm posted $0.54 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts anticipate that TrueBlue Inc. will post $2.00 EPS for the current fiscal year.
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TBI has been the topic of several recent research reports. Zacks Investment Research downgraded TrueBlue from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Deutsche Bank AG initiated coverage on TrueBlue in a research report on Wednesday, August 17th. They set a “sell” rating and a $20.00 target price on the stock. Finally, Avondale Partners downgraded TrueBlue from an “outperform” rating to an “underperform” rating and dropped their target price for the stock from $20.00 to $15.00 in a research report on Thursday, October 20th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The company presently has an average rating of “Hold” and an average price target of $21.71.
TrueBlue Company Profile
TrueBlue, Inc (TrueBlue) is a provider of specialized workforce solutions. The Company is engaged in providing staffing, recruitment process outsourcing, and managed service provider solutions. The Company operates through two segments: Staffing Services and Managed Services. The Company offers on-premise temporary blue-collar staffing, and outsourced service offerings in recruitment process outsourcing (RPO) and management of contingent labor services providers (MSP) solutions.
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