TrueBlue, Inc. (NYSE:TBI) Shares Sold by Invenomic Capital Management LP

Invenomic Capital Management LP trimmed its position in TrueBlue, Inc. (NYSE:TBI) by 16.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 234,647 shares of the business services provider’s stock after selling 45,301 shares during the quarter. Invenomic Capital Management LP owned approximately 0.79% of TrueBlue worth $1,851,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. nVerses Capital LLC acquired a new position in TrueBlue in the second quarter worth $35,000. Quantbot Technologies LP acquired a new position in shares of TrueBlue in the 3rd quarter valued at about $79,000. Algert Global LLC bought a new stake in shares of TrueBlue during the 2nd quarter valued at about $208,000. Walleye Capital LLC bought a new stake in shares of TrueBlue during the 3rd quarter valued at about $227,000. Finally, XTX Topco Ltd raised its stake in TrueBlue by 19.4% during the second quarter. XTX Topco Ltd now owns 22,725 shares of the business services provider’s stock worth $234,000 after acquiring an additional 3,689 shares during the period. 97.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TBI. BMO Capital Markets decreased their target price 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 cut TrueBlue from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th.

TrueBlue Stock Performance

Shares of TBI opened at $7.85 on Wednesday. The firm has a market capitalization of $232.05 million, a price-to-earnings ratio of -2.04 and a beta of 1.47. The stock’s fifty day moving average is $7.46 and its 200-day moving average is $8.84. TrueBlue, Inc. has a one year low of $6.63 and a one year high of $16.14.

TrueBlue (NYSE:TBI) last posted its quarterly earnings data on Monday, November 4th. The business services provider reported ($0.11) earnings per share (EPS) 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 business’s revenue was down 19.2% on a year-over-year basis. During the same period last year, the firm posted $0.16 earnings per share. Analysts forecast that TrueBlue, Inc. will post -0.56 EPS for the current fiscal year.

About TrueBlue

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.