Geode Capital Management LLC Sells 15,204 Shares of TrueBlue, Inc. (NYSE:TBI)

Geode Capital Management LLC cut its stake in shares of TrueBlue, Inc. (NYSE:TBI) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 673,894 shares of the business services provider’s stock after selling 15,204 shares during the quarter. Geode Capital Management LLC owned 2.28% of TrueBlue worth $5,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Quantbot Technologies LP bought a new position in shares of TrueBlue during the 3rd quarter valued at about $79,000. Quantinno Capital Management LP purchased a new stake in TrueBlue in the third quarter worth approximately $149,000. Algert Global LLC bought a new position in TrueBlue during the second quarter valued at approximately $208,000. XTX Topco Ltd grew its position in TrueBlue by 19.4% during the second quarter. XTX Topco Ltd now owns 22,725 shares of the business services provider’s stock valued at $234,000 after acquiring an additional 3,689 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of TrueBlue during the third quarter worth approximately $227,000. Hedge funds and other institutional investors own 97.15% of the company’s stock.

TrueBlue Stock Performance

TBI stock opened at $8.12 on Friday. The firm has a 50 day moving average price of $7.84 and a 200-day moving average price of $8.48. TrueBlue, Inc. has a 52-week low of $6.63 and a 52-week high of $14.91. The firm has a market capitalization of $240.02 million, a price-to-earnings ratio of -2.11 and a beta of 1.43.

TrueBlue (NYSE:TBI) last issued its earnings results on Monday, November 4th. The business services provider reported ($0.11) earnings per share (EPS) for the quarter, topping 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 net margin of 6.97% and a negative return on equity of 2.69%. The business’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 earnings per share. As a group, sell-side analysts forecast that TrueBlue, Inc. will post -0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TBI. StockNews.com upgraded shares of TrueBlue from a “sell” rating to a “hold” rating in a research report on Friday, December 27th. BMO Capital Markets reduced 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.

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.