20,147 Shares in TrueBlue, Inc. (NYSE:TBI) Bought by Algert Global LLC

Algert Global LLC bought a new stake in shares of TrueBlue, Inc. (NYSE:TBI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 20,147 shares of the business services provider’s stock, valued at approximately $208,000. Algert Global LLC owned approximately 0.07% of TrueBlue as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of TBI. Azarias Capital Management L.P. lifted its position in shares of TrueBlue by 40.8% in the second quarter. Azarias Capital Management L.P. now owns 1,247,222 shares of the business services provider’s stock valued at $12,846,000 after acquiring an additional 361,101 shares in the last quarter. Millennium Management LLC lifted its position in shares of TrueBlue by 6.3% in the second quarter. Millennium Management LLC now owns 532,039 shares of the business services provider’s stock valued at $5,480,000 after acquiring an additional 31,683 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in shares of TrueBlue by 0.4% in the first quarter. Lord Abbett & CO. LLC now owns 358,787 shares of the business services provider’s stock worth $4,492,000 after buying an additional 1,303 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of TrueBlue by 7.5% in the second quarter. AQR Capital Management LLC now owns 333,100 shares of the business services provider’s stock worth $3,431,000 after buying an additional 23,315 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in TrueBlue by 3.1% during the second quarter. Assenagon Asset Management S.A. now owns 290,360 shares of the business services provider’s stock valued at $2,991,000 after buying an additional 8,669 shares during the last quarter. 97.15% of the stock is currently owned by hedge funds and other institutional investors.

TrueBlue Price Performance

Shares of TBI stock opened at $7.04 on Friday. TrueBlue, Inc. has a 1 year low of $6.97 and a 1 year high of $16.14. The stock’s 50 day simple moving average is $7.95 and its two-hundred day simple moving average is $9.87. The company has a market cap of $215.21 million, a PE ratio of -19.03 and a beta of 1.49.

TrueBlue (NYSE:TBI) last issued its quarterly earnings data on Monday, August 5th. The business services provider reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.30). TrueBlue had a negative net margin of 6.18% and a negative return on equity of 0.55%. The company had revenue of $396.00 million for the quarter, compared to analysts’ expectations of $414.49 million. During the same quarter last year, the company earned $0.17 earnings per share. The company’s revenue for the quarter was down 16.7% on a year-over-year basis. Equities research analysts expect that TrueBlue, Inc. will post -0.65 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TBI. StockNews.com lowered TrueBlue from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. BMO Capital Markets dropped their price target on TrueBlue from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th.

TrueBlue 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.