Point72 Asia Singapore Pte. Ltd. Sells 14,733 Shares of TrueBlue, Inc. (NYSE:TBI)

Point72 Asia Singapore Pte. Ltd. lessened its stake in TrueBlue, Inc. (NYSE:TBI) by 34.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,485 shares of the business services provider’s stock after selling 14,733 shares during the quarter. Point72 Asia Singapore Pte. Ltd. owned approximately 0.09% of TrueBlue worth $283,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Algert Global LLC acquired a new stake in shares of TrueBlue in the second quarter valued at approximately $208,000. Pacific Ridge Capital Partners LLC lifted its holdings in TrueBlue by 18.0% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 48,961 shares of the business services provider’s stock valued at $504,000 after purchasing an additional 7,479 shares during the last quarter. Millennium Management LLC boosted its position in TrueBlue by 6.3% during the second quarter. Millennium Management LLC now owns 532,039 shares of the business services provider’s stock worth $5,480,000 after purchasing an additional 31,683 shares during the period. AQR Capital Management LLC increased its holdings in shares of TrueBlue by 7.5% in the second quarter. AQR Capital Management LLC now owns 333,100 shares of the business services provider’s stock valued at $3,431,000 after purchasing an additional 23,315 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of TrueBlue by 330.7% in the second quarter. Marshall Wace LLP now owns 143,910 shares of the business services provider’s stock valued at $1,482,000 after purchasing an additional 110,495 shares during the period. 97.15% of the stock is owned by institutional investors.

TrueBlue Price Performance

Shares of TBI opened at $7.71 on Wednesday. The firm has a 50 day simple moving average of $8.48 and a two-hundred day simple moving average of $10.04. TrueBlue, Inc. has a one year low of $7.09 and a one year high of $16.14. The company has a market cap of $235.69 million, a P/E ratio of -20.84 and a beta of 1.50.

TrueBlue (NYSE:TBI) last announced its quarterly earnings data on Monday, August 5th. The business services provider reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.30). The business had revenue of $396.00 million for the quarter, compared to the consensus estimate of $414.49 million. TrueBlue had a negative return on equity of 0.55% and a negative net margin of 6.18%. TrueBlue’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.17 earnings per share. On average, analysts expect that TrueBlue, Inc. will post -0.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TBI has been the subject of a number of research analyst reports. BMO Capital Markets decreased their target price on TrueBlue from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. StockNews.com lowered TrueBlue from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th.

About TrueBlue

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.