BNP Paribas Financial Markets Increases Stock Holdings in TrueBlue, Inc. (NYSE:TBI)

BNP Paribas Financial Markets increased its holdings in shares of TrueBlue, Inc. (NYSE:TBI) by 230.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,687 shares of the business services provider’s stock after buying an additional 32,542 shares during the quarter. BNP Paribas Financial Markets owned 0.16% of TrueBlue worth $368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake in TrueBlue by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 130,200 shares of the business services provider’s stock worth $1,341,000 after buying an additional 2,905 shares during the last quarter. nVerses Capital LLC acquired a new stake in TrueBlue during the 2nd quarter worth about $35,000. XTX Topco Ltd lifted its position in TrueBlue by 19.4% during the 2nd quarter. XTX Topco Ltd now owns 22,725 shares of the business services provider’s stock worth $234,000 after acquiring an additional 3,689 shares during the period. Sei Investments Co. lifted its position in TrueBlue by 22.5% during the 2nd quarter. Sei Investments Co. now owns 40,329 shares of the business services provider’s stock worth $415,000 after acquiring an additional 7,400 shares during the period. Finally, Pacific Ridge Capital Partners LLC lifted its position 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 worth $504,000 after acquiring an additional 7,479 shares during the period. 97.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. StockNews.com raised TrueBlue from a “sell” rating to a “hold” rating in a research report on Tuesday, December 10th. BMO Capital Markets lowered their price target on TrueBlue from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th.

TrueBlue Stock Up 0.3 %

Shares of TBI stock opened at $8.86 on Friday. The stock has a market cap of $261.90 million, a PE ratio of -2.31 and a beta of 1.47. The business has a 50-day simple moving average of $7.61 and a 200-day simple moving average of $8.73. TrueBlue, Inc. has a 52-week low of $6.63 and a 52-week high of $16.14.

TrueBlue (NYSE:TBI) last issued its quarterly earnings data on Monday, November 4th. The business services provider reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.04. The business had revenue of $382.36 million during the quarter, compared to analysts’ expectations of $386.07 million. TrueBlue had a negative return on equity of 2.69% and a negative net margin of 6.97%. The company’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 EPS. Sell-side analysts anticipate that TrueBlue, Inc. will post -0.56 earnings per share for the current fiscal year.

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.