Assenagon Asset Management S.A. Sells 169,115 Shares of TrueBlue, Inc. (NYSE:TBI)

Assenagon Asset Management S.A. trimmed its position in shares of TrueBlue, Inc. (NYSE:TBI) by 43.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 217,317 shares of the business services provider’s stock after selling 169,115 shares during the period. Assenagon Asset Management S.A.’s holdings in TrueBlue were worth $1,825,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Royce & Associates LP lifted its position in shares of TrueBlue by 28.5% during the 3rd quarter. Royce & Associates LP now owns 1,082,085 shares of the business services provider’s stock worth $8,538,000 after purchasing an additional 239,740 shares during the last quarter. FMR LLC lifted its holdings in shares of TrueBlue by 10.0% during the third quarter. FMR LLC now owns 1,742,474 shares of the business services provider’s stock worth $13,748,000 after buying an additional 158,967 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of TrueBlue by 330.7% during the second quarter. Marshall Wace LLP now owns 143,910 shares of the business services provider’s stock worth $1,482,000 after buying an additional 110,495 shares during the last quarter. GSA Capital Partners LLP boosted its position in shares of TrueBlue by 85.2% in the third quarter. GSA Capital Partners LLP now owns 220,892 shares of the business services provider’s stock valued at $1,743,000 after acquiring an additional 101,589 shares during the period. Finally, Empowered Funds LLC grew its stake in shares of TrueBlue by 34.2% in the third quarter. Empowered Funds LLC now owns 163,742 shares of the business services provider’s stock worth $1,292,000 after acquiring an additional 41,754 shares during the last quarter. 97.15% of the stock is owned by institutional investors and hedge funds.

TrueBlue Trading Down 2.4 %

Shares of NYSE:TBI opened at $7.61 on Friday. The firm has a market capitalization of $225.01 million, a PE ratio of -1.98, a PEG ratio of 3.74 and a beta of 1.43. TrueBlue, Inc. has a 1-year low of $6.63 and a 1-year high of $14.91. The business’s 50 day moving average is $7.86 and its 200-day moving average is $8.23.

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

Analyst Ratings Changes

TBI has been the subject of several research analyst reports. BMO Capital Markets cut their target price on shares of TrueBlue from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. StockNews.com upgraded shares of TrueBlue from a “sell” rating to a “hold” rating in a report on Friday, December 27th.

TrueBlue Company 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.