Millennium Management LLC Has $5.48 Million Position in TrueBlue, Inc. (NYSE:TBI)

Millennium Management LLC grew its holdings in TrueBlue, Inc. (NYSE:TBI) by 6.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 532,039 shares of the business services provider’s stock after purchasing an additional 31,683 shares during the quarter. Millennium Management LLC owned about 1.74% of TrueBlue worth $5,480,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. nVerses Capital LLC acquired a new position in TrueBlue in the second quarter worth $35,000. State Board of Administration of Florida Retirement System acquired a new position in TrueBlue in the first quarter worth $192,000. XTX Topco Ltd boosted its stake in TrueBlue by 19.4% in 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 in the last quarter. Paloma Partners Management Co acquired a new position in TrueBlue in the first quarter worth $376,000. Finally, Sei Investments Co. boosted its stake in TrueBlue by 22.5% in the second quarter. Sei Investments Co. now owns 40,329 shares of the business services provider’s stock worth $415,000 after purchasing an additional 7,400 shares in the last quarter. Institutional investors and hedge funds own 97.15% of the company’s stock.

TrueBlue Stock Up 2.4 %

TBI stock opened at $7.21 on Friday. The company has a market cap of $220.41 million, a P/E ratio of -19.49 and a beta of 1.49. TrueBlue, Inc. has a twelve month low of $6.97 and a twelve month high of $16.14. The business has a fifty day moving average of $7.86 and a 200-day moving average of $9.85.

TrueBlue (NYSE:TBI) last released its earnings results 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 company had revenue of $396.00 million during the quarter, compared to analyst estimates of $414.49 million. TrueBlue had a negative net margin of 6.18% and a negative return on equity of 0.55%. The company’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 EPS. As a group, equities research analysts anticipate that TrueBlue, Inc. will post -0.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TBI. StockNews.com downgraded TrueBlue from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. BMO Capital Markets dropped their target price on TrueBlue from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th.

TrueBlue Company 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.