State Street Corp Buys 1,968 Shares of TrueBlue, Inc. (NYSE:TBI)

State Street Corp boosted its stake in shares of TrueBlue, Inc. (NYSE:TBI) by 0.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 665,901 shares of the business services provider’s stock after acquiring an additional 1,968 shares during the period. State Street Corp owned 2.25% of TrueBlue worth $5,254,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of TrueBlue by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 130,200 shares of the business services provider’s stock valued at $1,341,000 after buying an additional 2,905 shares in the last quarter. nVerses Capital LLC acquired a new position in TrueBlue during the second quarter valued at approximately $35,000. XTX Topco Ltd lifted its stake in TrueBlue by 19.4% during 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 last quarter. Sei Investments Co. increased its stake in shares of TrueBlue by 22.5% in the 2nd quarter. Sei Investments Co. now owns 40,329 shares of the business services provider’s stock valued at $415,000 after purchasing an additional 7,400 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of TrueBlue by 330.7% during the 2nd quarter. Marshall Wace LLP now owns 143,910 shares of the business services provider’s stock worth $1,482,000 after buying an additional 110,495 shares in the last quarter. 97.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TBI. BMO Capital Markets decreased their price target on shares of TrueBlue from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. StockNews.com upgraded shares of TrueBlue from a “sell” rating to a “hold” rating in a report on Friday.

TrueBlue Stock Down 3.7 %

Shares of NYSE TBI opened at $7.87 on Monday. The company has a market capitalization of $232.63 million, a PE ratio of -2.05 and a beta of 1.47. TrueBlue, Inc. has a twelve month low of $6.63 and a twelve month high of $15.61. The firm has a fifty day simple moving average of $7.77 and a 200 day simple moving average of $8.53.

TrueBlue (NYSE:TBI) last issued its 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 return on equity of 2.69% and a negative net margin of 6.97%. The business had revenue of $382.36 million during the quarter, compared to the consensus estimate of $386.07 million. During the same period in the previous year, the company posted $0.16 earnings per share. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. As a group, equities analysts expect that TrueBlue, Inc. will post -0.56 earnings per share for the current fiscal year.

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.