TrueBlue, Inc. (NYSE:TBI) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its holdings in shares of TrueBlue, Inc. (NYSE:TBI – Get Rating) by 88.2% during the third quarter, HoldingsChannel.com reports. The firm owned 20,035 shares of the business services provider’s stock after purchasing an additional 9,387 shares during the period. Hsbc Holdings PLC’s holdings in TrueBlue were worth $389,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new position in TrueBlue during the second quarter worth approximately $58,000. Tower Research Capital LLC TRC boosted its position in TrueBlue by 181.6% during the third quarter. Tower Research Capital LLC TRC now owns 3,405 shares of the business services provider’s stock worth $65,000 after purchasing an additional 2,196 shares in the last quarter. Lazard Asset Management LLC boosted its position in TrueBlue by 25.7% during the second quarter. Lazard Asset Management LLC now owns 3,851 shares of the business services provider’s stock worth $68,000 after purchasing an additional 787 shares in the last quarter. Captrust Financial Advisors boosted its position in TrueBlue by 37.4% during the first quarter. Captrust Financial Advisors now owns 3,852 shares of the business services provider’s stock worth $111,000 after purchasing an additional 1,048 shares in the last quarter. Finally, Gladius Capital Management LP boosted its position in TrueBlue by 40.6% during the second quarter. Gladius Capital Management LP now owns 3,995 shares of the business services provider’s stock worth $72,000 after purchasing an additional 1,153 shares in the last quarter. Hedge funds and other institutional investors own 96.65% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded TrueBlue from a “buy” rating to a “hold” rating in a research report on Thursday, March 2nd.

TrueBlue Price Performance

NYSE TBI opened at $18.21 on Wednesday. The company has a market cap of $597.65 million, a PE ratio of 9.79 and a beta of 1.46. The stock’s 50 day simple moving average is $19.28 and its 200-day simple moving average is $19.96. TrueBlue, Inc. has a 1-year low of $15.77 and a 1-year high of $30.32.

TrueBlue (NYSE:TBI – Get Rating) last released its earnings results on Wednesday, February 1st. The business services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. The business had revenue of $557.70 million for the quarter, compared to the consensus estimate of $562.93 million. TrueBlue had a return on equity of 16.95% and a net margin of 2.76%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share.

TrueBlue Profile

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TrueBlue, Inc engages in the provision of staffing, recruitment process outsourcing and managed service provider solutions. It operates through the following segments: PeopleReady, PeopleManagement and PeopleScout. The PeopleReady segment offers staffing solutions for blue-collar, contingent on-demand and skilled labor to a broad range of industries that include retail, manufacturing, warehousing, logistics, energy, construction, hospitality and others.