Royce & Associates LP Sells 677,840 Shares of TrueBlue, Inc. $TBI

Royce & Associates LP decreased its holdings in shares of TrueBlue, Inc. (NYSE:TBI) by 29.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,637,359 shares of the business services provider’s stock after selling 677,840 shares during the period. Royce & Associates LP owned 0.05% of TrueBlue worth $7,450,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. XTX Topco Ltd boosted its position in shares of TrueBlue by 11.4% during the 2nd quarter. XTX Topco Ltd now owns 18,106 shares of the business services provider’s stock valued at $117,000 after purchasing an additional 1,858 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of TrueBlue by 6.5% during the 2nd quarter. Hsbc Holdings PLC now owns 43,259 shares of the business services provider’s stock valued at $288,000 after purchasing an additional 2,646 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of TrueBlue by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 692,713 shares of the business services provider’s stock valued at $4,490,000 after purchasing an additional 3,269 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its position in shares of TrueBlue by 4.6% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 74,456 shares of the business services provider’s stock valued at $339,000 after purchasing an additional 3,270 shares in the last quarter. Finally, Walleye Capital LLC boosted its position in shares of TrueBlue by 7.6% during the 2nd quarter. Walleye Capital LLC now owns 52,783 shares of the business services provider’s stock valued at $342,000 after purchasing an additional 3,718 shares in the last quarter. Institutional investors own 97.15% of the company’s stock.

Analyst Upgrades and Downgrades

TBI has been the topic of several research analyst reports. Weiss Ratings lowered TrueBlue from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Wall Street Zen lowered TrueBlue from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Zacks Research upgraded TrueBlue from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Finally, Robert W. Baird set a $5.50 target price on TrueBlue in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.75.

TrueBlue Stock Up 4.0%

Shares of NYSE:TBI opened at $6.10 on Friday. The business’s 50 day simple moving average is $4.63 and its two-hundred day simple moving average is $4.68. The firm has a market cap of $185.56 million, a P/E ratio of -3.43 and a beta of 1.61. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.09 and a current ratio of 2.09. TrueBlue, Inc. has a 52-week low of $3.18 and a 52-week high of $7.78.

TrueBlue (NYSE:TBI) last announced its quarterly earnings results on Tuesday, May 5th. The business services provider reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.04. The business had revenue of $398.57 million for the quarter, compared to analyst estimates of $390.51 million. TrueBlue had a negative return on equity of 7.37% and a negative net margin of 3.25%. As a group, research analysts forecast that TrueBlue, Inc. will post -0.09 EPS for the current fiscal year.

About TrueBlue

TrueBlue, Inc is a Tacoma, Washington–based workforce solutions provider specializing in temporary staffing, permanent placement and managed service solutions. Operating through its subsidiaries and brands, TrueBlue connects clients across manufacturing, logistics, retail, construction and public sector markets with skilled professionals for both short-term and long-term engagements. The company’s offerings encompass on-demand blue-collar labor, specialized industrial staffing, recruitment process outsourcing (RPO) and contingent workforce management.

TrueBlue’s primary service lines include PeopleReady, which supplies general labor for construction, hospitality and event services; PeopleManagement, which focuses on technical and industrial professionals; PeopleScout, a global RPO business offering end-to-end talent acquisition and consulting; and Staff Management | SMX, which delivers seasonal staffing for large-scale events, amusement parks and federal workforce contracts.