Bailard Inc. Sells 107,270 Shares of TrueBlue, Inc. $TBI

Bailard Inc. decreased its stake in TrueBlue, Inc. (NYSE:TBI) by 69.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,380 shares of the business services provider’s stock after selling 107,270 shares during the quarter. Bailard Inc. owned approximately 0.16% of TrueBlue worth $284,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TBI. Federated Hermes Inc. bought a new position in shares of TrueBlue during the 2nd quarter valued at approximately $69,000. Corton Capital Inc. bought a new stake in TrueBlue during the 2nd quarter worth approximately $76,000. Envestnet Asset Management Inc. purchased a new position in TrueBlue during the second quarter valued at approximately $83,000. XTX Topco Ltd boosted its position in shares of TrueBlue by 11.4% in the second quarter. XTX Topco Ltd now owns 18,106 shares of the business services provider’s stock worth $117,000 after purchasing an additional 1,858 shares during the period. Finally, Jump Financial LLC purchased a new stake in shares of TrueBlue in the second quarter worth $130,000. 97.15% of the stock is owned by hedge funds and other institutional investors.

TrueBlue Trading Down 4.4%

Shares of TrueBlue stock opened at $5.30 on Friday. TrueBlue, Inc. has a twelve month low of $3.45 and a twelve month high of $8.55. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $4.86 and a 200-day moving average price of $5.60. The firm has a market cap of $158.53 million, a price-to-earnings ratio of -5.57, a PEG ratio of 0.77 and a beta of 1.47.

TrueBlue (NYSE:TBI) last posted its earnings results on Monday, November 3rd. The business services provider reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.12. The company had revenue of $431.27 million for the quarter, compared to the consensus estimate of $409.01 million. TrueBlue had a negative return on equity of 4.42% and a negative net margin of 1.78%. Equities research analysts anticipate that TrueBlue, Inc. will post 0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TBI has been the topic of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of TrueBlue in a research note on Monday, December 29th. Wall Street Zen raised TrueBlue to a “hold” rating in a report on Saturday, January 17th. Finally, BMO Capital Markets lowered their price objective on TrueBlue from $8.00 to $6.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.00.

About TrueBlue

TrueBlue, Inc is a Tacoma, Washington–based workforce solutions provider specializing in temporary staffing, permanent placement and managed service solutions. Operating through its subsidiaries and brands, TrueBlue connects clients across manufacturing, logistics, retail, construction and public sector markets with skilled professionals for both short-term and long-term engagements. The company’s offerings encompass on-demand blue-collar labor, specialized industrial staffing, recruitment process outsourcing (RPO) and contingent workforce management.

TrueBlue’s primary service lines include PeopleReady, which supplies general labor for construction, hospitality and event services; PeopleManagement, which focuses on technical and industrial professionals; PeopleScout, a global RPO business offering end-to-end talent acquisition and consulting; and Staff Management | SMX, which delivers seasonal staffing for large-scale events, amusement parks and federal workforce contracts.