GSA Capital Partners LLP Raises Position in TrueBlue, Inc. (NYSE:TBI)

GSA Capital Partners LLP increased its position in TrueBlue, Inc. (NYSE:TBI) by 85.2% in the third quarter, HoldingsChannel.com reports. The fund owned 220,892 shares of the business services provider’s stock after buying an additional 101,589 shares during the period. GSA Capital Partners LLP’s holdings in TrueBlue were worth $1,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its stake in TrueBlue by 33.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 386,432 shares of the business services provider’s stock worth $3,049,000 after acquiring an additional 96,072 shares during the last quarter. Algert Global LLC purchased a new position in TrueBlue in the 2nd quarter worth $208,000. Pacific Ridge Capital Partners LLC raised its stake in TrueBlue by 18.0% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 48,961 shares of the business services provider’s stock worth $504,000 after acquiring an additional 7,479 shares during the last quarter. Millennium Management LLC raised its stake in TrueBlue by 6.3% in the 2nd quarter. Millennium Management LLC now owns 532,039 shares of the business services provider’s stock worth $5,480,000 after acquiring an additional 31,683 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in TrueBlue by 7.5% in the 2nd quarter. AQR Capital Management LLC now owns 333,100 shares of the business services provider’s stock worth $3,431,000 after acquiring an additional 23,315 shares during the last quarter. Hedge funds and other institutional investors own 97.15% of the company’s stock.

TrueBlue Stock Performance

Shares of TBI opened at $7.35 on Wednesday. The business’s 50-day moving average is $7.62 and its two-hundred day moving average is $9.24. The company has a market capitalization of $217.26 million, a P/E ratio of -2.02 and a beta of 1.49. TrueBlue, Inc. has a fifty-two week low of $6.97 and a fifty-two week high of $16.14.

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

Analyst Ratings Changes

TBI has been the topic of several analyst reports. StockNews.com downgraded TrueBlue from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. BMO Capital Markets cut their price target 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 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.