Pzena Investment Management LLC Sells 90,557 Shares of TrueBlue, Inc. (NYSE:TBI)

Pzena Investment Management LLC cut its stake in TrueBlue, Inc. (NYSE:TBI) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,780,117 shares of the business services provider’s stock after selling 90,557 shares during the period. Pzena Investment Management LLC owned 9.41% of TrueBlue worth $21,935,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TBI. nVerses Capital LLC bought a new position in shares of TrueBlue during the 2nd quarter worth approximately $35,000. State Board of Administration of Florida Retirement System bought a new position in shares of TrueBlue during the 1st quarter worth approximately $192,000. Algert Global LLC bought a new position in shares of TrueBlue during the 2nd quarter worth approximately $208,000. XTX Topco Ltd boosted its holdings in shares of TrueBlue by 19.4% during the 2nd quarter. XTX Topco Ltd now owns 22,725 shares of the business services provider’s stock worth $234,000 after buying an additional 3,689 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in shares of TrueBlue during the 1st quarter worth approximately $376,000. 97.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TBI shares. BMO Capital Markets cut their price target on TrueBlue from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. StockNews.com lowered TrueBlue from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th.

TrueBlue Stock Up 1.6 %

Shares of NYSE:TBI opened at $6.86 on Thursday. TrueBlue, Inc. has a twelve month low of $6.63 and a twelve month high of $16.14. The stock’s 50 day moving average is $7.55 and its 200-day moving average is $9.09.

TrueBlue (NYSE:TBI) last released its quarterly earnings results on Monday, November 4th. The business services provider reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. The business had revenue of $382.36 million during the quarter, compared to analyst estimates of $386.07 million. TrueBlue had a negative return on equity of 2.69% and a negative net margin of 6.97%. TrueBlue’s quarterly revenue was down 19.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 EPS. Equities analysts anticipate that TrueBlue, Inc. will post -0.56 EPS for the current fiscal year.

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.