US Bancorp DE Trims Stock Holdings in TrueBlue, Inc. (NYSE:TBI)

US Bancorp DE cut its stake in TrueBlue, Inc. (NYSE:TBI) by 20.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,337 shares of the business services provider’s stock after selling 3,673 shares during the quarter. US Bancorp DE’s holdings in TrueBlue were worth $113,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. nVerses Capital LLC bought a new stake in TrueBlue during the second quarter valued at approximately $35,000. State Board of Administration of Florida Retirement System purchased a new stake in TrueBlue in the first quarter worth approximately $192,000. Algert Global LLC bought a new position in TrueBlue during the second quarter valued at approximately $208,000. XTX Topco Ltd raised its stake in shares of TrueBlue by 19.4% during the second quarter. XTX Topco Ltd now owns 22,725 shares of the business services provider’s stock worth $234,000 after acquiring an additional 3,689 shares in the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of TrueBlue in the 1st quarter worth approximately $376,000. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Analyst Ratings Changes

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

TrueBlue Price Performance

NYSE:TBI opened at $6.90 on Friday. TrueBlue, Inc. has a one year low of $6.81 and a one year high of $16.14. The firm has a market capitalization of $203.96 million, a P/E ratio of -1.80 and a beta of 1.49. The company’s 50-day simple moving average is $7.58 and its 200 day simple moving average is $9.18.

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