TrueBlue, Inc. (NYSE:TBI) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its position in shares of TrueBlue, Inc. (NYSE:TBI) by 80.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 109,511 shares of the business services provider’s stock after selling 461,433 shares during the quarter. JPMorgan Chase & Co.’s holdings in TrueBlue were worth $864,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in shares of TrueBlue in the 3rd quarter valued at $79,000. Quantinno Capital Management LP acquired a new position in TrueBlue during the third quarter valued at $149,000. Algert Global LLC purchased a new stake in TrueBlue in the second quarter valued at $208,000. Walleye Capital LLC acquired a new stake in TrueBlue during the 3rd quarter worth about $227,000. Finally, XTX Topco Ltd grew its position in 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 purchasing an additional 3,689 shares during the period. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. StockNews.com upgraded TrueBlue from a “sell” rating to a “hold” rating in a research note on Friday, December 27th. BMO Capital Markets lowered their price objective on TrueBlue from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th.

TrueBlue Trading Up 3.1 %

Shares of TBI opened at $7.86 on Friday. The firm has a market cap of $232.19 million, a P/E ratio of -2.05, a PEG ratio of 3.71 and a beta of 1.43. TrueBlue, Inc. has a 12 month low of $6.63 and a 12 month high of $14.91. The stock’s 50 day moving average is $7.89 and its two-hundred day moving average is $8.21.

TrueBlue (NYSE:TBI) last released its earnings results on Monday, November 4th. The business services provider reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. TrueBlue had a negative net margin of 6.97% and a negative return on equity of 2.69%. The business 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 company earned $0.16 earnings per share. The company’s quarterly revenue was down 19.2% on a year-over-year basis. Equities research analysts forecast that TrueBlue, Inc. will post -0.56 EPS for the current 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.