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

TrueBlue, Inc. (NYSE:TBI) Director Sonita Lontoh sold 2,186 shares of the company’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 sale, the director directly owned 72,733 shares of the company’s stock, valued at approximately $489,493.09. This represents a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

TrueBlue Stock Performance

TBI traded up $0.04 on Monday, hitting $6.67. 24,701 shares of the company traded hands, compared to its average volume of 320,055. The company has a 50 day moving average of $5.00 and a 200-day moving average of $4.75. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $202.62 million, a PE ratio of -3.74 and a beta of 1.64. TrueBlue, Inc. has a 12-month low of $3.18 and a 12-month high of $7.78.

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

Hedge Funds Weigh In On TrueBlue

Large investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd acquired a new stake in shares of TrueBlue in the 1st quarter worth approximately $156,000. Envestnet Asset Management Inc. purchased a new position in TrueBlue in the 2nd quarter valued at approximately $83,000. Geode Capital Management LLC increased its stake in TrueBlue by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 692,713 shares of the business services provider’s stock valued at $4,490,000 after purchasing an additional 3,269 shares in the last quarter. XTX Topco Ltd increased its stake in TrueBlue by 11.4% in the 2nd quarter. XTX Topco Ltd now owns 18,106 shares of the business services provider’s stock valued at $117,000 after purchasing an additional 1,858 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in TrueBlue by 6.5% in the 2nd quarter. Hsbc Holdings PLC now owns 43,259 shares of the business services provider’s stock valued at $288,000 after purchasing an additional 2,646 shares in the last quarter. 97.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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