Quantinno Capital Management LP Invests $149,000 in TrueBlue, Inc. (NYSE:TBI)

Quantinno Capital Management LP bought a new position in TrueBlue, Inc. (NYSE:TBI) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 18,907 shares of the business services provider’s stock, valued at approximately $149,000. Quantinno Capital Management LP owned about 0.06% of TrueBlue at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TBI. Royce & Associates LP lifted its position in TrueBlue by 28.5% in the third quarter. Royce & Associates LP now owns 1,082,085 shares of the business services provider’s stock valued at $8,538,000 after purchasing an additional 239,740 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of TrueBlue by 230.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 46,687 shares of the business services provider’s stock valued at $368,000 after buying an additional 32,542 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in TrueBlue by 33.1% in the third quarter. Assenagon Asset Management S.A. now owns 386,432 shares of the business services provider’s stock worth $3,049,000 after purchasing an additional 96,072 shares during the period. Walleye Capital LLC bought a new position in TrueBlue during the 3rd quarter valued at approximately $227,000. Finally, Azarias Capital Management L.P. raised its position in shares of TrueBlue by 40.8% in the 2nd quarter. Azarias Capital Management L.P. now owns 1,247,222 shares of the business services provider’s stock worth $12,846,000 after purchasing an additional 361,101 shares during the last quarter. Institutional investors own 97.15% of the company’s stock.

TrueBlue Stock Performance

Shares of TrueBlue stock opened at $8.67 on Wednesday. The company has a fifty day moving average of $7.67 and a 200 day moving average of $8.68. TrueBlue, Inc. has a fifty-two week low of $6.63 and a fifty-two week high of $16.14. The company has a market capitalization of $256.13 million, a P/E ratio of -2.26 and a beta of 1.47.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on TBI shares. BMO Capital Markets cut their target price on TrueBlue from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. StockNews.com upgraded shares of TrueBlue from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th.

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.