US Bancorp DE Sells 3,673 Shares of TrueBlue, Inc. (NYSE:TBI)

US Bancorp DE lowered its holdings in TrueBlue, Inc. (NYSE:TBI) by 20.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,337 shares of the business services provider’s stock after selling 3,673 shares during the period. US Bancorp DE’s holdings in TrueBlue were worth $113,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC boosted its stake in shares of TrueBlue by 0.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 358,787 shares of the business services provider’s stock worth $4,492,000 after acquiring an additional 1,303 shares during the period. Bank of New York Mellon Corp grew its stake in 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 during the last quarter. nVerses Capital LLC bought a new position in TrueBlue in the 2nd quarter valued at about $35,000. XTX Topco Ltd lifted 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 worth $234,000 after acquiring an additional 3,689 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of TrueBlue by 23.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 38,146 shares of the business services provider’s stock worth $478,000 after acquiring an additional 7,327 shares during the period. 97.15% of the stock is currently owned by institutional investors and hedge funds.

TrueBlue Trading Down 1.4 %

Shares of TBI stock opened at $6.90 on Friday. The firm has a market capitalization of $203.96 million, a price-to-earnings ratio of -1.80 and a beta of 1.49. The business’s 50-day moving average price is $7.58 and its 200-day moving average price is $9.18. TrueBlue, Inc. has a 12 month low of $6.81 and a 12 month high of $16.14.

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

Wall Street Analyst Weigh In

TBI has been the topic of a number of recent research reports. BMO Capital Markets lowered their price target on shares of TrueBlue from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. StockNews.com cut TrueBlue from a “hold” rating to a “sell” rating in a research note 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.