Paloma Partners Management Co Invests $376,000 in TrueBlue, Inc. (NYSE:TBI)

Paloma Partners Management Co acquired a new position in shares of TrueBlue, Inc. (NYSE:TBI) during the 1st quarter, Holdings Channel reports. The fund acquired 30,025 shares of the business services provider’s stock, valued at approximately $376,000.

Other hedge funds have also modified their holdings of the company. Pzena Investment Management LLC raised its holdings in TrueBlue by 27.2% during the 4th quarter. Pzena Investment Management LLC now owns 3,092,337 shares of the business services provider’s stock valued at $47,436,000 after buying an additional 661,496 shares during the period. Charles Schwab Investment Management Inc. boosted its position in TrueBlue by 9.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 897,352 shares of the business services provider’s stock valued at $13,765,000 after purchasing an additional 76,624 shares in the last quarter. Azarias Capital Management L.P. boosted its position in TrueBlue by 196.7% during the first quarter. Azarias Capital Management L.P. now owns 886,121 shares of the business services provider’s stock valued at $11,094,000 after purchasing an additional 587,427 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in TrueBlue by 0.4% in the first quarter. Lord Abbett & CO. LLC now owns 358,787 shares of the business services provider’s stock valued at $4,492,000 after buying an additional 1,303 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in TrueBlue by 209.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 305,693 shares of the business services provider’s stock valued at $4,689,000 after buying an additional 206,757 shares during the last quarter. 97.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. BMO Capital Markets restated an “outperform” rating and issued a $13.00 price objective on shares of TrueBlue in a research note on Monday, June 17th. Robert W. Baird reduced their price target on TrueBlue from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Tuesday, May 7th.

TrueBlue Trading Down 0.7 %

TBI traded down $0.08 during trading on Monday, hitting $11.81. The company’s stock had a trading volume of 148,846 shares, compared to its average volume of 364,657. The business’s fifty day simple moving average is $10.64 and its 200 day simple moving average is $11.56. The firm has a market capitalization of $361.03 million, a price-to-earnings ratio of -31.92, a P/E/G ratio of 14.15 and a beta of 1.51. TrueBlue, Inc. has a twelve month low of $9.12 and a twelve month high of $16.14.

TrueBlue (NYSE:TBI) last issued its quarterly earnings results on Monday, May 6th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.46. TrueBlue had a positive return on equity of 3.02% and a negative net margin of 0.63%. The firm had revenue of $403.00 million for the quarter, compared to analyst estimates of $400.24 million. During the same period in the previous year, the company posted ($0.06) earnings per share. The business’s revenue was down 13.4% on a year-over-year basis. As a group, equities research analysts forecast that TrueBlue, Inc. will post 0.06 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.