TrueBlue, Inc. (NYSE:TBI) Shares Sold by Invenomic Capital Management LP

Invenomic Capital Management LP lowered its holdings in TrueBlue, Inc. (NYSE:TBI) by 16.2% in the third quarter, Holdings Channel.com reports. The firm owned 234,647 shares of the business services provider’s stock after selling 45,301 shares during the period. Invenomic Capital Management LP’s holdings in TrueBlue were worth $1,851,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in TrueBlue in the second quarter valued at approximately $35,000. Quantbot Technologies LP bought a new position in shares of TrueBlue during the 3rd quarter worth about $79,000. Algert Global LLC acquired a new position in TrueBlue in the 2nd quarter valued at approximately $208,000. XTX Topco Ltd lifted its position in TrueBlue by 19.4% in the second 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. Finally, Walleye Capital LLC bought a new position in shares of TrueBlue during the 3rd quarter worth about $227,000. 97.15% of the stock is currently owned by institutional investors and hedge funds.

TrueBlue Stock Down 1.6 %

Shares of TrueBlue stock opened at $7.85 on Wednesday. The business has a fifty day simple moving average of $7.46 and a 200 day simple moving average of $8.84. The stock has a market cap of $232.05 million, a PE ratio of -2.04 and a beta of 1.47. TrueBlue, Inc. has a 12 month low of $6.63 and a 12 month high of $16.14.

TrueBlue (NYSE:TBI) last announced its quarterly earnings results on Monday, November 4th. The business services provider reported ($0.11) earnings per share 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 company had revenue of $382.36 million for the quarter, compared to analysts’ expectations of $386.07 million. During the same period last year, the firm posted $0.16 earnings per share. The business’s quarterly revenue was down 19.2% compared to the same quarter last year. Analysts expect that TrueBlue, Inc. will post -0.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TBI. StockNews.com lowered TrueBlue from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. BMO Capital Markets reduced their price objective on TrueBlue from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th.

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.