TrueBlue, Inc. (NYSE:TBI) Shares Bought by Azarias Capital Management L.P.

Azarias Capital Management L.P. grew its position in TrueBlue, Inc. (NYSE:TBI) by 196.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 886,121 shares of the business services provider’s stock after buying an additional 587,427 shares during the quarter. TrueBlue accounts for about 4.7% of Azarias Capital Management L.P.’s portfolio, making the stock its 10th largest holding. Azarias Capital Management L.P.’s holdings in TrueBlue were worth $11,094,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position 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. Campbell & CO Investment Adviser LLC acquired a new position in TrueBlue during the 4th quarter worth approximately $722,000. Pzena Investment Management LLC increased its position in TrueBlue by 27.2% during the 4th quarter. Pzena Investment Management LLC now owns 3,092,337 shares of the business services provider’s stock worth $47,436,000 after purchasing an additional 661,496 shares in the last quarter. Quest Partners LLC acquired a new position in TrueBlue during the 4th quarter worth approximately $74,000. Finally, Trexquant Investment LP acquired a new position in TrueBlue during the 4th quarter worth approximately $228,000. 97.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Robert W. Baird lowered their price objective on shares of TrueBlue from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Tuesday, May 7th. BMO Capital Markets restated an “outperform” rating and issued a $13.00 price target on shares of TrueBlue in a research report on Monday, June 17th.

TrueBlue Stock Down 2.2 %

NYSE TBI traded down $0.23 on Thursday, hitting $10.28. The company’s stock had a trading volume of 73,382 shares, compared to its average volume of 297,176. TrueBlue, Inc. has a 1-year low of $9.95 and a 1-year high of $19.06. The company’s 50-day moving average is $10.65 and its 200 day moving average is $12.12. The firm has a market cap of $314.26 million, a PE ratio of -27.78, a PEG ratio of 12.51 and a beta of 1.51.

TrueBlue (NYSE:TBI) last posted its quarterly earnings data on Monday, May 6th. The business services provider reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.46. TrueBlue had a negative net margin of 0.63% and a positive return on equity of 3.02%. The company had revenue of $403.00 million for the quarter, compared to analyst estimates of $400.24 million. During the same period in the prior year, the firm posted ($0.06) EPS. The company’s quarterly revenue was down 13.4% on a year-over-year basis. On average, equities analysts expect that TrueBlue, Inc. will post 0.06 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.