TrueBlue, Inc. (NYSE:TBI) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC boosted its position in TrueBlue, Inc. (NYSE:TBI) by 34.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 163,742 shares of the business services provider’s stock after buying an additional 41,754 shares during the period. Empowered Funds LLC’s holdings in TrueBlue were worth $1,292,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Azarias Capital Management L.P. grew its position in shares of TrueBlue by 40.8% in the 2nd quarter. Azarias Capital Management L.P. now owns 1,247,222 shares of the business services provider’s stock worth $12,846,000 after acquiring an additional 361,101 shares in the last quarter. Royce & Associates LP lifted its stake in TrueBlue by 28.5% during the third quarter. Royce & Associates LP now owns 1,082,085 shares of the business services provider’s stock worth $8,538,000 after purchasing an additional 239,740 shares during the last quarter. Millennium Management LLC lifted its stake in TrueBlue by 6.3% during the second quarter. Millennium Management LLC now owns 532,039 shares of the business services provider’s stock worth $5,480,000 after purchasing an additional 31,683 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in TrueBlue by 33.1% in the third quarter. Assenagon Asset Management S.A. now owns 386,432 shares of the business services provider’s stock worth $3,049,000 after purchasing an additional 96,072 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of TrueBlue by 7.5% during the second quarter. AQR Capital Management LLC now owns 333,100 shares of the business services provider’s stock worth $3,431,000 after purchasing an additional 23,315 shares during the period. Institutional investors and hedge funds own 97.15% of the company’s stock.

TrueBlue Price Performance

Shares of NYSE TBI opened at $7.03 on Friday. The firm has a market capitalization of $207.81 million, a PE ratio of -1.79 and a beta of 1.49. TrueBlue, Inc. has a 1-year low of $6.63 and a 1-year high of $16.14. The business’s fifty day moving average price is $7.54 and its two-hundred day moving average price is $9.07.

TrueBlue (NYSE:TBI) last released its quarterly earnings data on Monday, November 4th. The business services provider reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. The business had revenue of $382.36 million for the quarter, compared to analysts’ expectations of $386.07 million. TrueBlue had a negative net margin of 6.97% and a negative return on equity of 2.69%. The company’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 EPS. Equities research analysts expect that TrueBlue, Inc. will post -0.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. StockNews.com lowered shares of TrueBlue from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. BMO Capital Markets decreased their target price on TrueBlue from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th.

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.