Jacobs Levy Equity Management Inc. Decreases Stake in TrueBlue, Inc. (NYSE:TBI)

Jacobs Levy Equity Management Inc. reduced its holdings in TrueBlue, Inc. (NYSE:TBI) by 4.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 495,905 shares of the business services provider’s stock after selling 22,755 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 1.62% of TrueBlue worth $6,209,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. SG Americas Securities LLC raised its stake in TrueBlue by 12.8% during the fourth quarter. SG Americas Securities LLC now owns 19,931 shares of the business services provider’s stock worth $306,000 after purchasing an additional 2,268 shares during the period. Assenagon Asset Management S.A. increased its position in shares of TrueBlue by 209.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 305,693 shares of the business services provider’s stock valued at $4,689,000 after purchasing an additional 206,757 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of TrueBlue in the 4th quarter valued at approximately $239,000. Russell Investments Group Ltd. increased its position in shares of TrueBlue by 41.2% in the 4th quarter. Russell Investments Group Ltd. now owns 57,492 shares of the business services provider’s stock valued at $882,000 after purchasing an additional 16,776 shares during the last quarter. Finally, Maryland State Retirement & Pension System purchased a new stake in shares of TrueBlue in the 4th quarter valued at approximately $175,000. 97.15% of the stock is owned by hedge funds and other institutional investors.

TrueBlue Price Performance

Shares of TBI stock traded up $0.31 during mid-day trading on Tuesday, hitting $12.12. The stock had a trading volume of 136,946 shares, compared to its average volume of 363,087. TrueBlue, Inc. has a fifty-two week low of $9.12 and a fifty-two week high of $16.14. The firm has a market cap of $370.51 million, a PE ratio of -31.92, a PEG ratio of 14.15 and a beta of 1.51. The company’s 50-day simple moving average is $10.64 and its 200-day simple moving average is $11.56.

TrueBlue (NYSE:TBI) last announced its quarterly earnings results on Monday, May 6th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.46. The business had revenue of $403.00 million during the quarter, compared to the consensus estimate of $400.24 million. TrueBlue had a negative net margin of 0.63% and a positive return on equity of 3.02%. The business’s revenue was down 13.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.06) EPS. On average, analysts expect that TrueBlue, Inc. will post 0.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $13.00 price target on shares of TrueBlue in a research note on Monday, June 17th. Robert W. Baird decreased their price target on shares of TrueBlue from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday, May 7th.

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.