Quantinno Capital Management LP Makes New Investment in TrueBlue, Inc. (NYSE:TBI)

Quantinno Capital Management LP bought a new stake in shares of TrueBlue, Inc. (NYSE:TBI) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 18,907 shares of the business services provider’s stock, valued at approximately $149,000.

Other hedge funds also recently bought and sold shares of the company. FMR LLC increased its holdings in TrueBlue by 10.0% during the 3rd quarter. FMR LLC now owns 1,742,474 shares of the business services provider’s stock worth $13,748,000 after purchasing an additional 158,967 shares during the period. Azarias Capital Management L.P. raised its holdings in 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 worth $12,846,000 after purchasing an additional 361,101 shares in the last quarter. Royce & Associates LP raised its stake in shares of TrueBlue by 28.5% during the 3rd quarter. Royce & Associates LP now owns 1,082,085 shares of the business services provider’s stock worth $8,538,000 after acquiring an additional 239,740 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of TrueBlue by 6.3% during the 2nd quarter. Millennium Management LLC now owns 532,039 shares of the business services provider’s stock valued at $5,480,000 after purchasing an additional 31,683 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake 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 valued at $3,049,000 after buying an additional 96,072 shares during the last quarter. Institutional investors own 97.15% of the company’s stock.

Analysts Set New Price Targets

TBI has been the subject of several research reports. StockNews.com upgraded shares of TrueBlue from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th. BMO Capital Markets decreased their price target on TrueBlue from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th.

TrueBlue Stock Performance

TrueBlue stock opened at $8.67 on Wednesday. The stock has a market capitalization of $256.13 million, a P/E ratio of -2.26 and a beta of 1.47. The company’s fifty day moving average price is $7.67 and its 200 day moving average price is $8.68. TrueBlue, Inc. has a 1 year low of $6.63 and a 1 year high of $16.14.

TrueBlue (NYSE:TBI) last issued its quarterly earnings results on Monday, November 4th. The business services provider reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.04. The firm had revenue of $382.36 million during the quarter, compared to analysts’ expectations of $386.07 million. TrueBlue had a negative return on equity of 2.69% and a negative net margin of 6.97%. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 earnings per share. Sell-side analysts predict that TrueBlue, Inc. will post -0.56 EPS for the current year.

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.