Raymond James Financial Inc. Invests $478,000 in TrueBlue, Inc. (NYSE:TBI)

Raymond James Financial Inc. purchased a new stake in TrueBlue, Inc. (NYSE:TBI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 56,868 shares of the business services provider’s stock, valued at approximately $478,000.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of TrueBlue by 10.0% in the 3rd quarter. FMR LLC now owns 1,742,474 shares of the business services provider’s stock worth $13,748,000 after acquiring an additional 158,967 shares during the last quarter. State Street Corp grew its holdings in shares of TrueBlue by 0.3% in the third quarter. State Street Corp now owns 665,901 shares of the business services provider’s stock valued at $5,254,000 after purchasing an additional 1,968 shares during the period. Empowered Funds LLC raised its stake in TrueBlue by 5.1% during the fourth quarter. Empowered Funds LLC now owns 172,069 shares of the business services provider’s stock worth $1,445,000 after purchasing an additional 8,327 shares during the period. Proficio Capital Partners LLC purchased a new position in TrueBlue during the fourth quarter worth about $978,000. Finally, Barclays PLC boosted its holdings in TrueBlue by 95.7% in the 3rd quarter. Barclays PLC now owns 67,353 shares of the business services provider’s stock valued at $531,000 after purchasing an additional 32,940 shares during the last quarter. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Insider Activity at TrueBlue

In other TrueBlue news, CEO Taryn R. Owen purchased 12,735 shares of TrueBlue stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average price of $5.94 per share, with a total value of $75,645.90. Following the completion of the transaction, the chief executive officer now owns 414,932 shares of the company’s stock, valued at $2,464,696.08. This trade represents a 3.17 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Carl Schweihs acquired 10,000 shares of the stock in a transaction dated Monday, February 24th. The stock was acquired at an average cost of $6.25 per share, with a total value of $62,500.00. Following the purchase, the chief financial officer now owns 166,551 shares of the company’s stock, valued at approximately $1,040,943.75. This trade represents a 6.39 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 25,235 shares of company stock worth $151,271. Insiders own 4.00% of the company’s stock.

TrueBlue Stock Performance

NYSE TBI opened at $4.73 on Wednesday. The stock has a fifty day simple moving average of $6.25 and a 200-day simple moving average of $7.22. The company has a current ratio of 1.73, a quick ratio of 1.85 and a debt-to-equity ratio of 0.02. The stock has a market cap of $140.37 million, a PE ratio of -1.14, a P/E/G ratio of 3.01 and a beta of 1.42. TrueBlue, Inc. has a twelve month low of $4.50 and a twelve month high of $12.29.

TrueBlue (NYSE:TBI) last announced its earnings results on Wednesday, February 19th. The business services provider reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.14. The company had revenue of $385.95 million during the quarter, compared to analyst estimates of $385.04 million. TrueBlue had a negative net margin of 8.02% and a negative return on equity of 3.90%. Equities analysts anticipate that TrueBlue, Inc. will post 0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of TrueBlue from a “sell” rating to a “hold” rating in a report on Sunday, March 2nd.

TrueBlue Company Profile

TrueBlue, Inc, together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, the United Kingdom, Australia, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The company PeopleReady segment provides general, industrial, and skilled trade contingent staffing services for construction, transportation, manufacturing, retail, hospitality, and renewable energy industries.