Hotchkis & Wiley Amends TrueBlue Stake as of Dec 31, 2023
Ticker: TBI · Form: SC 13G/A · Filed: Feb 13, 2024 · CIK: 768899
| Field | Detail |
|---|---|
| Company | Trueblue, INC. (TBI) |
| Form Type | SC 13G/A |
| Filed Date | Feb 13, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
TL;DR
**Hotchkis & Wiley updated their TrueBlue stake, signaling their latest position.**
AI Summary
Hotchkis & Wiley Capital Management LLC, an investment firm based in Los Angeles, California, filed an amended SC 13G/A on February 13, 2024, indicating a change in their beneficial ownership of TrueBlue, Inc. common stock as of December 31, 2023. This filing updates their previous disclosure, showing their current stake in the company. This matters to investors because it reveals a significant institutional investor's updated position, which can signal their confidence (or lack thereof) in TrueBlue's future performance.
Why It Matters
This filing shows an institutional investor's updated ownership in TrueBlue, providing transparency into their investment strategy and potentially influencing other investors' perceptions of the stock.
Risk Assessment
Risk Level: low — This filing is a routine update of an institutional ownership stake and does not inherently introduce new risks to the company or its investors.
Analyst Insight
A smart investor would note Hotchkis & Wiley's updated position in TrueBlue, but would need to review the full filing (which is not provided here) to understand the specific change in share count and percentage owned to gauge the significance of this amendment.
Key Players & Entities
- Hotchkis & Wiley Capital Management LLC (company) — the entity filing the SC 13G/A, reporting beneficial ownership of TrueBlue, Inc. shares
- TrueBlue, Inc. (company) — the subject company whose common stock is being reported on
- December 31, 2023 (date) — the date of the event which requires the filing of this statement
- February 13, 2024 (date) — the date the SC 13G/A amendment was filed
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, as indicated by 'FORM TYPE: SC 13G/A' and 'SCHEDULE 13G/A Under the Securities Exchange Act of 1934 (Amendment No. 1)*' in the filing.
Who is the reporting person in this filing?
The reporting person is Hotchkis and Wiley Capital Management, LLC, as stated under 'NAME OF REPORTING PERSONS' on page 2 of the filing.
What is the subject company of this filing?
The subject company is TrueBlue, Inc., as identified by 'TrueBlue, Inc. (Name of Issuer)' on the cover page of the filing.
What is the CUSIP number for the securities reported?
The CUSIP number for the common stock of TrueBlue, Inc. is 89785X101, as listed on the cover page and page 2 of the filing.
What was the date of the event that triggered this filing?
The date of the event which requires the filing of this statement was December 31, 2023, as specified on the cover page of the filing.
Filing Stats: 960 words · 4 min read · ~3 pages · Grade level 9.1 · Accepted 2024-02-13 16:03:47
Filing Documents
- hotchkiswiley-tbi123123a2.htm (SC 13G/A) — 52KB
- 0001172661-24-000826.txt ( ) — 53KB
(a)Name of Issuer
Item 1. (a)Name of Issuer TrueBlue, Inc. (b)Address of Issuer’s Principal Executive Offices 1015 A Street Tacoma, Washington 98402
(a)Name of Person Filing
Item 2. (a)Name of Person Filing Hotchkis and Wiley Capital Management, LLC (b)Address of Principal Business Office, or, if none, Residence 601 S. Figueroa Street, 39th Fl Los Angeles, CA 90017 (c)Citizenship Delaware (d)Title of Class of Securities Common stock, no par value (e) CUSIP No.: 89785X101 CUSIP No. 89785X101 SCHEDULE 13G/A Page 4 of 6 Pages
If
Item 3.If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) o Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) x An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J); (k) A group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J), please specify the type of institution: CUSIP No. 89785X101 SCHEDULE 13G/A Page 5 of 6 Pages Item 4.Ownership Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 810,650 (b) Percent of class: 2.6% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 707,350 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 810,650 (iv) Shared power to dispose or to direct the disposition of: 0 Note that certain of HWCM's clients have retained voting power over the Common Shares that they beneficially own. Accordingly, HWCM has the