BNP Paribas Financial Markets Boosts Stock Holdings in TrueBlue, Inc. (NYSE:TBI)

BNP Paribas Financial Markets boosted its position in shares of TrueBlue, Inc. (NYSE:TBI) by 230.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,687 shares of the business services provider’s stock after buying an additional 32,542 shares during the period. BNP Paribas Financial Markets’ holdings in TrueBlue were worth $368,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TBI. nVerses Capital LLC purchased a new stake in TrueBlue during the 2nd quarter worth approximately $35,000. Quantbot Technologies LP purchased a new stake in TrueBlue during the 3rd quarter worth approximately $79,000. Algert Global LLC purchased a new stake in TrueBlue during the 2nd quarter worth approximately $208,000. XTX Topco Ltd increased its stake in TrueBlue by 19.4% during the 2nd quarter. XTX Topco Ltd now owns 22,725 shares of the business services provider’s stock worth $234,000 after buying an additional 3,689 shares in the last quarter. Finally, Sei Investments Co. increased its stake in TrueBlue by 22.5% during the 2nd quarter. Sei Investments Co. now owns 40,329 shares of the business services provider’s stock worth $415,000 after buying an additional 7,400 shares in the last quarter. 97.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. BMO Capital Markets cut their price objective on 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 TrueBlue from a “sell” rating to a “hold” rating in a research report on Tuesday, December 10th.

TrueBlue Price Performance

TBI stock opened at $8.86 on Friday. The business has a 50 day simple moving average of $7.61 and a 200-day simple moving average of $8.73. The firm has a market capitalization of $261.90 million, a PE ratio of -2.31 and a beta of 1.47. TrueBlue, Inc. has a 1 year low of $6.63 and a 1 year high of $16.14.

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

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.