Walleye Capital LLC Invests $227,000 in TrueBlue, Inc. (NYSE:TBI)

Walleye Capital LLC acquired a new position in TrueBlue, Inc. (NYSE:TBI) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 28,762 shares of the business services provider’s stock, valued at approximately $227,000. Walleye Capital LLC owned 0.10% of TrueBlue at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of TBI. Price T Rowe Associates Inc. MD grew its stake in shares of TrueBlue by 25.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,983 shares of the business services provider’s stock worth $464,000 after purchasing an additional 7,417 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of TrueBlue by 3.1% in the second quarter. Assenagon Asset Management S.A. now owns 290,360 shares of the business services provider’s stock worth $2,991,000 after purchasing an additional 8,669 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of TrueBlue by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 130,200 shares of the business services provider’s stock worth $1,341,000 after purchasing an additional 2,905 shares during the last quarter. Azarias Capital Management L.P. grew its stake in shares of TrueBlue by 40.8% in the second quarter. Azarias Capital Management L.P. now owns 1,247,222 shares of the business services provider’s stock worth $12,846,000 after purchasing an additional 361,101 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of TrueBlue in the second quarter worth about $35,000. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. StockNews.com raised TrueBlue from a “sell” rating to a “hold” rating in a research report on Tuesday. BMO Capital Markets cut their price objective on TrueBlue from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th.

TrueBlue Stock Performance

Shares of TrueBlue stock opened at $8.65 on Wednesday. The company has a market capitalization of $255.69 million, a P/E ratio of -2.25 and a beta of 1.48. The company has a fifty day moving average of $7.51 and a 200 day moving average of $8.76. TrueBlue, Inc. has a fifty-two week low of $6.63 and a fifty-two week high of $16.14.

TrueBlue (NYSE:TBI) last released its quarterly earnings data on Monday, November 4th. The business services provider reported ($0.11) 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 the consensus estimate 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 was down 19.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. Analysts forecast that TrueBlue, Inc. will post -0.56 EPS for the current 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.