Jacobs Levy Equity Management Inc. Sells 76,393 Shares of TrueBlue, Inc. (NYSE:TBI)

Jacobs Levy Equity Management Inc. lessened its position in shares of TrueBlue, Inc. (NYSE:TBI) by 11.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 567,770 shares of the business services provider’s stock after selling 76,393 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.92% of TrueBlue worth $4,480,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TBI. Price T Rowe Associates Inc. MD boosted its position in shares of TrueBlue by 25.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 36,983 shares of the business services provider’s stock worth $464,000 after buying an additional 7,417 shares during the period. Assenagon Asset Management S.A. boosted its position in TrueBlue by 3.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 290,360 shares of the business services provider’s stock worth $2,991,000 after acquiring an additional 8,669 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of TrueBlue by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 130,200 shares of the business services provider’s stock worth $1,341,000 after acquiring an additional 2,905 shares in the last quarter. Azarias Capital Management L.P. raised its holdings in shares of TrueBlue by 40.8% in the second quarter. Azarias Capital Management L.P. now owns 1,247,222 shares of the business services provider’s stock valued at $12,846,000 after purchasing an additional 361,101 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of TrueBlue in the second quarter worth $35,000. Institutional investors and hedge funds own 97.15% of the company’s stock.

TrueBlue Stock Performance

Shares of NYSE TBI opened at $8.03 on Friday. The stock has a 50 day moving average price of $7.50 and a 200 day moving average price of $8.81. The stock has a market capitalization of $237.37 million, a PE ratio of -2.09 and a beta of 1.47. TrueBlue, Inc. has a 52 week low of $6.63 and a 52 week high of $16.14.

TrueBlue (NYSE:TBI) last released its earnings results on Monday, November 4th. The business services provider reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.04. The business had revenue of $382.36 million during the quarter, compared to analysts’ expectations of $386.07 million. TrueBlue had a negative net margin of 6.97% and a negative return on equity of 2.69%. The firm’s revenue was down 19.2% on a year-over-year basis. During the same period last year, the business earned $0.16 earnings per share. As a group, research analysts forecast that TrueBlue, Inc. will post -0.56 EPS for the current year.

Analyst Ratings Changes

Separately, BMO Capital Markets decreased their target price on shares of TrueBlue from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th.

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.