Millennium Management LLC Acquires 31,683 Shares of TrueBlue, Inc. (NYSE:TBI)

Millennium Management LLC increased its holdings in shares of TrueBlue, Inc. (NYSE:TBI) by 6.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 532,039 shares of the business services provider’s stock after purchasing an additional 31,683 shares during the quarter. Millennium Management LLC’s holdings in TrueBlue were worth $5,480,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of TBI. Allspring Global Investments Holdings LLC increased its stake in TrueBlue by 23.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 38,146 shares of the business services provider’s stock worth $478,000 after purchasing an additional 7,327 shares in the last quarter. Azarias Capital Management L.P. boosted its position in TrueBlue by 196.7% during the 1st quarter. Azarias Capital Management L.P. now owns 886,121 shares of the business services provider’s stock worth $11,094,000 after acquiring an additional 587,427 shares during the last quarter. BNP Paribas Financial Markets boosted its position in TrueBlue by 41.8% during the 1st quarter. BNP Paribas Financial Markets now owns 82,337 shares of the business services provider’s stock worth $1,031,000 after acquiring an additional 24,286 shares during the last quarter. Quantbot Technologies LP boosted its position in TrueBlue by 181.3% during the 1st quarter. Quantbot Technologies LP now owns 41,987 shares of the business services provider’s stock worth $526,000 after acquiring an additional 27,060 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in TrueBlue by 8.2% during the 1st quarter. Empowered Funds LLC now owns 113,348 shares of the business services provider’s stock worth $1,419,000 after acquiring an additional 8,565 shares during the last quarter. 97.15% of the stock is owned by institutional investors.

TrueBlue Trading Up 2.4 %

NYSE TBI opened at $7.21 on Friday. The company has a market cap of $220.41 million, a PE ratio of -19.49 and a beta of 1.49. TrueBlue, Inc. has a 12 month low of $6.97 and a 12 month high of $16.14. The stock has a 50 day moving average of $7.86 and a 200-day moving average of $9.85.

TrueBlue (NYSE:TBI) last released its quarterly earnings data on Monday, August 5th. The business services provider reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.30). The company had revenue of $396.00 million during the quarter, compared to analyst estimates of $414.49 million. TrueBlue had a negative net margin of 6.18% and a negative return on equity of 0.55%. The company’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 EPS. As a group, sell-side analysts predict that TrueBlue, Inc. will post -0.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TBI has been the subject of a number of recent research reports. StockNews.com downgraded TrueBlue from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. BMO Capital Markets reduced their price target on TrueBlue from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th.

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.