Taryn Owen Buys 20,400 Shares of TrueBlue (NYSE:TBI) Stock

TrueBlue, Inc. (NYSE:TBI) CEO Taryn Owen bought 20,400 shares of TrueBlue stock in a transaction dated Tuesday, February 24th. The stock was purchased at an average price of $3.79 per share, with a total value of $77,316.00. Following the purchase, the chief executive officer owned 791,807 shares in the company, valued at approximately $3,000,948.53. This represents a 2.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

TrueBlue Stock Performance

Shares of NYSE TBI traded up $0.18 during midday trading on Thursday, reaching $3.98. The company’s stock had a trading volume of 325,047 shares, compared to its average volume of 232,859. The stock has a market capitalization of $119.65 million, a P/E ratio of -2.49, a PEG ratio of 3.07 and a beta of 1.49. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a 50 day moving average price of $4.80 and a 200-day moving average price of $5.28. TrueBlue, Inc. has a 12-month low of $3.44 and a 12-month high of $7.78.

TrueBlue (NYSE:TBI) last posted its quarterly earnings results on Wednesday, February 18th. The business services provider reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.17). TrueBlue had a negative net margin of 2.97% and a negative return on equity of 6.87%. The company had revenue of $418.18 million for the quarter, compared to the consensus estimate of $413.31 million. As a group, equities analysts predict that TrueBlue, Inc. will post 0.15 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on TBI. Wall Street Zen lowered TrueBlue from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. BMO Capital Markets reduced their price objective on shares of TrueBlue from $8.00 to $6.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Zacks Research cut shares of TrueBlue from a “hold” rating to a “strong sell” rating in a research note on Friday, February 20th. Robert W. Baird set a $5.50 price target on shares of TrueBlue in a report on Thursday, February 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TrueBlue in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, TrueBlue has an average rating of “Reduce” and an average price target of $5.75.

Institutional Trading of TrueBlue

Several institutional investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd purchased a new position in shares of TrueBlue in the fourth quarter worth $48,000. Simplex Trading LLC grew its holdings in TrueBlue by 56.9% in the 4th quarter. Simplex Trading LLC now owns 11,018 shares of the business services provider’s stock worth $50,000 after acquiring an additional 3,995 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in TrueBlue in the 4th quarter worth $53,000. Jain Global LLC purchased a new position in shares of TrueBlue in the fourth quarter valued at about $58,000. Finally, State of Wyoming increased its position in shares of TrueBlue by 601.2% in the third quarter. State of Wyoming now owns 9,558 shares of the business services provider’s stock valued at $59,000 after acquiring an additional 8,195 shares during the period. 97.15% of the stock is currently owned by hedge funds and other institutional investors.

TrueBlue Company Profile

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.