JPMorgan Chase & Co. Sells 461,433 Shares of TrueBlue, Inc. (NYSE:TBI)

JPMorgan Chase & Co. decreased its stake in TrueBlue, Inc. (NYSE:TBI) by 80.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 109,511 shares of the business services provider’s stock after selling 461,433 shares during the quarter. JPMorgan Chase & Co. owned about 0.37% of TrueBlue worth $864,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Royce & Associates LP lifted its holdings in shares of TrueBlue by 28.5% in the 3rd quarter. Royce & Associates LP now owns 1,082,085 shares of the business services provider’s stock worth $8,538,000 after acquiring an additional 239,740 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in TrueBlue by 230.1% in the third quarter. BNP Paribas Financial Markets now owns 46,687 shares of the business services provider’s stock worth $368,000 after purchasing an additional 32,542 shares during the last quarter. Barclays PLC boosted its position in shares of TrueBlue by 95.7% during the third quarter. Barclays PLC now owns 67,353 shares of the business services provider’s stock valued at $531,000 after buying an additional 32,940 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of TrueBlue by 33.1% during the third quarter. Assenagon Asset Management S.A. now owns 386,432 shares of the business services provider’s stock valued at $3,049,000 after buying an additional 96,072 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of TrueBlue by 0.3% in the third quarter. State Street Corp now owns 665,901 shares of the business services provider’s stock worth $5,254,000 after buying an additional 1,968 shares during the period. Institutional investors own 97.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TBI shares. StockNews.com raised shares of TrueBlue from a “sell” rating to a “hold” rating in a research note on Friday, December 27th. BMO Capital Markets decreased their price objective on shares of TrueBlue from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th.

TrueBlue Stock Performance

NYSE:TBI opened at $7.86 on Friday. The firm has a 50-day simple moving average of $7.89 and a 200-day simple moving average of $8.21. TrueBlue, Inc. has a one year low of $6.63 and a one year high of $14.91. The firm has a market cap of $232.19 million, a P/E ratio of -2.05, a P/E/G ratio of 3.71 and a beta of 1.43.

TrueBlue (NYSE:TBI) last released its quarterly earnings results on Monday, November 4th. The business services provider reported ($0.11) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $382.36 million during the quarter, compared to analyst estimates of $386.07 million. During the same period in the previous year, the company posted $0.16 EPS. The business’s revenue for the quarter was down 19.2% compared to the same quarter last year. On average, research analysts predict that TrueBlue, Inc. will post -0.56 EPS for the current fiscal year.

TrueBlue 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.