SG Americas Securities LLC Makes New Investment in TrueBlue, Inc. (NYSE:TBI)

SG Americas Securities LLC purchased a new stake in shares of TrueBlue, Inc. (NYSE:TBI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,812 shares of the business services provider’s stock, valued at approximately $108,000.

A number of other hedge funds have also modified their holdings of TBI. State Street Corp boosted its position in TrueBlue by 0.3% during the third quarter. State Street Corp now owns 665,901 shares of the business services provider’s stock valued at $5,254,000 after purchasing an additional 1,968 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of TrueBlue during the 3rd quarter valued at about $79,000. Quantinno Capital Management LP bought a new stake in shares of TrueBlue in the 3rd quarter valued at approximately $149,000. Y Intercept Hong Kong Ltd grew its stake in shares of TrueBlue by 97.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 40,194 shares of the business services provider’s stock valued at $317,000 after buying an additional 19,799 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in TrueBlue in the third quarter worth approximately $227,000. 97.15% of the stock is owned by institutional investors and hedge funds.

TrueBlue Stock Down 1.6 %

Shares of TBI stock opened at $7.30 on Thursday. TrueBlue, Inc. has a 12 month low of $6.63 and a 12 month high of $13.28. The company has a market cap of $215.79 million, a PE ratio of -1.90, a price-to-earnings-growth ratio of 3.66 and a beta of 1.42. The business’s 50 day moving average is $8.03 and its two-hundred day moving average is $7.93.

Analyst Upgrades and Downgrades

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