Trueblue Inc (TBI) Stake Lessened by IndexIQ Advisors LLC

IndexIQ Advisors LLC cut its holdings in shares of Trueblue Inc (NYSE:TBI) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 81,145 shares of the business services provider’s stock after selling 6,625 shares during the period. IndexIQ Advisors LLC’s holdings in Trueblue were worth $1,805,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. MetLife Investment Advisors LLC grew its holdings in shares of Trueblue by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 30,369 shares of the business services provider’s stock valued at $791,000 after buying an additional 10,796 shares during the last quarter. Citadel Advisors LLC boosted its holdings in Trueblue by 162.1% in the third quarter. Citadel Advisors LLC now owns 86,284 shares of the business services provider’s stock valued at $2,248,000 after purchasing an additional 53,362 shares during the last quarter. BlackRock Inc. boosted its holdings in Trueblue by 5.7% in the third quarter. BlackRock Inc. now owns 5,760,079 shares of the business services provider’s stock valued at $150,049,000 after purchasing an additional 309,494 shares during the last quarter. Bank of Montreal Can boosted its holdings in Trueblue by 17.5% in the third quarter. Bank of Montreal Can now owns 138,482 shares of the business services provider’s stock valued at $3,607,000 after purchasing an additional 20,592 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Trueblue by 141.5% in the third quarter. Pacer Advisors Inc. now owns 5,618 shares of the business services provider’s stock valued at $146,000 after purchasing an additional 3,292 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

NYSE:TBI opened at $22.14 on Monday. Trueblue Inc has a one year low of $20.56 and a one year high of $29.85. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.03 and a current ratio of 1.91. The firm has a market capitalization of $896.34 million, a price-to-earnings ratio of 9.71 and a beta of 1.78.

Trueblue (NYSE:TBI) last posted its quarterly earnings results on Thursday, February 7th. The business services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.59 by $0.02. Trueblue had a net margin of 2.63% and a return on equity of 15.95%. The company had revenue of $650.15 million for the quarter, compared to analyst estimates of $649.93 million. During the same period in the prior year, the company earned $0.51 earnings per share. The firm’s revenue was down 2.9% on a year-over-year basis. Sell-side analysts anticipate that Trueblue Inc will post 2.42 earnings per share for the current year.

Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of Trueblue from a “buy” rating to a “hold” rating in a report on Friday, November 9th. ValuEngine raised shares of Trueblue from a “sell” rating to a “hold” rating in a report on Friday, November 16th. Credit Suisse Group lowered their price target on shares of Trueblue from $31.00 to $25.00 and set a “hold” rating on the stock in a report on Tuesday, November 6th. Finally, TheStreet lowered shares of Trueblue from a “b-” rating to a “c” rating in a report on Monday, December 31st. Four investment analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus price target of $26.67.

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Trueblue Company Profile

TrueBlue, Inc provides contingent staffing, recruitment process outsourcing, and contingent staffing management services in the United States, Canada, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The PeopleReady segment offers a range of staffing solutions for blue-collar, contingent on-demand, and skilled labor in construction, manufacturing and logistics, warehousing and distribution, waste and recycling, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.

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Institutional Ownership by Quarter for Trueblue (NYSE:TBI)

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