30,025 Shares in TrueBlue, Inc. (NYSE:TBI) Acquired by Paloma Partners Management Co

Paloma Partners Management Co purchased a new stake in shares of TrueBlue, Inc. (NYSE:TBI) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 30,025 shares of the business services provider’s stock, valued at approximately $376,000. Paloma Partners Management Co owned about 0.10% of TrueBlue as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lord Abbett & CO. LLC lifted its holdings in shares of TrueBlue by 0.4% during the first quarter. Lord Abbett & CO. LLC now owns 358,787 shares of the business services provider’s stock valued at $4,492,000 after acquiring an additional 1,303 shares during the period. SG Americas Securities LLC lifted its stake in TrueBlue by 12.8% in the 4th quarter. SG Americas Securities LLC now owns 19,931 shares of the business services provider’s stock valued at $306,000 after acquiring an additional 2,268 shares in the last quarter. Quest Partners LLC bought a new stake in shares of TrueBlue during the 4th quarter worth approximately $74,000. Allspring Global Investments Holdings LLC raised its stake in shares of 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. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of TrueBlue by 25.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,983 shares of the business services provider’s stock worth $464,000 after acquiring an additional 7,417 shares during the last quarter. Institutional investors and hedge funds own 97.15% of the company’s stock.

TrueBlue Price Performance

Shares of NYSE TBI traded down $0.08 during trading on Monday, reaching $11.81. 148,846 shares of the stock traded hands, compared to its average volume of 364,657. TrueBlue, Inc. has a 52-week low of $9.12 and a 52-week high of $16.14. The company has a 50-day moving average of $10.64 and a 200-day moving average of $11.56. The stock has a market capitalization of $361.03 million, a P/E ratio of -31.92, a price-to-earnings-growth ratio of 14.15 and a beta of 1.51.

TrueBlue (NYSE:TBI) last announced its earnings results on Monday, May 6th. The business services provider reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.46. The business had revenue of $403.00 million for the quarter, compared to analyst estimates of $400.24 million. TrueBlue had a positive return on equity of 3.02% and a negative net margin of 0.63%. The company’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.06) EPS. Analysts expect that TrueBlue, Inc. will post 0.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TBI. Robert W. Baird decreased their price objective on TrueBlue from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday, May 7th. BMO Capital Markets reissued an “outperform” rating and issued a $13.00 price target on shares of TrueBlue in a research note on Monday, June 17th.

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.