Hsbc Holdings PLC Raises Position in TrueBlue, Inc. (NYSE:TBI)

Hsbc Holdings PLC lifted its position in TrueBlue, Inc. (NYSE:TBI) by 108.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 39,489 shares of the business services provider’s stock after acquiring an additional 20,562 shares during the period. Hsbc Holdings PLC’s holdings in TrueBlue were worth $323,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Barclays PLC lifted its position 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 acquiring an additional 32,940 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of TrueBlue in the fourth quarter worth $108,000. Empowered Funds LLC lifted its holdings in shares of TrueBlue by 5.1% during the fourth quarter. Empowered Funds LLC now owns 172,069 shares of the business services provider’s stock valued at $1,445,000 after purchasing an additional 8,327 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of TrueBlue during the fourth quarter valued at $978,000. Finally, Raymond James Financial Inc. bought a new stake in TrueBlue in the 4th quarter worth about $478,000. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, CFO Carl Schweihs purchased 10,000 shares of TrueBlue stock in a transaction on Monday, February 24th. The stock was acquired at an average price of $6.25 per share, for a total transaction of $62,500.00. Following the completion of the transaction, the chief financial officer now directly owns 166,551 shares in the company, valued at $1,040,943.75. This represents a 6.39 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Taryn R. Owen acquired 12,735 shares of the stock in a transaction dated Wednesday, February 26th. The shares were bought at an average cost of $5.94 per share, for a total transaction of $75,645.90. Following the completion of the transaction, the chief executive officer now owns 414,932 shares in the company, valued at approximately $2,464,696.08. This represents a 3.17 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 25,235 shares of company stock valued at $151,271. 5.00% of the stock is owned by insiders.

TrueBlue Price Performance

Shares of TBI opened at $4.24 on Friday. The firm has a market cap of $126.27 million, a PE ratio of -1.02, a P/E/G ratio of 3.01 and a beta of 1.39. TrueBlue, Inc. has a 1-year low of $3.45 and a 1-year high of $12.29. 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 firm has a fifty day simple moving average of $4.96 and a two-hundred day simple moving average of $6.72.

TrueBlue (NYSE:TBI) last posted its quarterly earnings data on Monday, May 5th. The business services provider reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.17). The firm had revenue of $370.25 million for the quarter, compared to analysts’ expectations of $362.37 million. TrueBlue had a negative net margin of 8.02% and a negative return on equity of 3.90%. On average, equities analysts anticipate that TrueBlue, Inc. will post 0.15 EPS for the current year.

About TrueBlue

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.