Hsbc Holdings PLC Boosts Stock Holdings in TrueBlue, Inc. (NYSE:TBI)

Hsbc Holdings PLC lifted its stake in TrueBlue, Inc. (NYSE:TBI) by 108.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,489 shares of the business services provider’s stock after buying an additional 20,562 shares during the period. Hsbc Holdings PLC owned approximately 0.13% of TrueBlue worth $323,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TBI. MetLife Investment Management LLC increased its stake in TrueBlue by 23.5% in the 4th quarter. MetLife Investment Management LLC now owns 15,886 shares of the business services provider’s stock worth $133,000 after purchasing an additional 3,028 shares during the period. Wells Fargo & Company MN increased its stake in shares of TrueBlue by 24.7% in the fourth quarter. Wells Fargo & Company MN now owns 17,112 shares of the business services provider’s stock worth $144,000 after buying an additional 3,393 shares during the period. Geode Capital Management LLC raised its holdings in TrueBlue by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 678,393 shares of the business services provider’s stock valued at $5,700,000 after buying an additional 4,499 shares during the last quarter. Empowered Funds LLC boosted its position in TrueBlue by 5.1% during the 4th quarter. Empowered Funds LLC now owns 172,069 shares of the business services provider’s stock valued at $1,445,000 after buying an additional 8,327 shares during the period. Finally, Pzena Investment Management LLC grew its holdings in TrueBlue by 0.3% in the 4th quarter. Pzena Investment Management LLC now owns 2,788,628 shares of the business services provider’s stock worth $23,424,000 after acquiring an additional 8,511 shares during the last quarter. Institutional investors own 97.15% of the company’s stock.

TrueBlue Price Performance

TBI opened at $4.24 on Friday. The stock’s 50 day moving average price is $4.96 and its 200-day moving average price is $6.72. TrueBlue, Inc. has a 52-week low of $3.45 and a 52-week high of $12.29. The stock has a market capitalization of $126.27 million, a PE ratio of -1.02, a price-to-earnings-growth ratio of 3.01 and a beta of 1.39. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.85 and a current ratio of 1.73.

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

Insider Buying and Selling at TrueBlue

In other TrueBlue news, CFO Carl Schweihs bought 10,000 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was acquired at an average price of $6.25 per share, with a total value of $62,500.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Taryn R. Owen bought 12,735 shares of the 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 acquisition, the chief executive officer now directly owns 414,932 shares of the company’s stock, valued at approximately $2,464,696.08. The trade was a 3.17 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 25,235 shares of company stock valued at $151,271. 5.00% of the stock is currently owned by corporate insiders.

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.