Point72 Asia Singapore Pte. Ltd. Sells 10,535 Shares of TrueBlue, Inc. (NYSE:TBI)

Point72 Asia Singapore Pte. Ltd. reduced its stake in TrueBlue, Inc. (NYSE:TBI) by 50.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,469 shares of the business services provider’s stock after selling 10,535 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in TrueBlue were worth $88,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Pzena Investment Management LLC lifted its position in TrueBlue by 0.3% in the 4th quarter. Pzena Investment Management LLC now owns 2,788,628 shares of the business services provider’s stock valued at $23,424,000 after acquiring an additional 8,511 shares in the last quarter. Invesco Ltd. lifted its position in TrueBlue by 1.4% in the 4th quarter. Invesco Ltd. now owns 2,032,941 shares of the business services provider’s stock valued at $17,077,000 after acquiring an additional 27,515 shares in the last quarter. Royce & Associates LP lifted its position in TrueBlue by 40.8% in the 4th quarter. Royce & Associates LP now owns 1,523,193 shares of the business services provider’s stock valued at $12,795,000 after acquiring an additional 441,108 shares in the last quarter. Geode Capital Management LLC lifted its position in TrueBlue by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 678,393 shares of the business services provider’s stock valued at $5,700,000 after acquiring an additional 4,499 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in TrueBlue by 262.7% in the 4th quarter. Nuveen Asset Management LLC now owns 561,093 shares of the business services provider’s stock valued at $4,713,000 after acquiring an additional 406,405 shares in the last quarter. 97.15% of the stock is owned by institutional investors.

Insider Transactions at TrueBlue

In other news, CEO Taryn R. Owen bought 12,735 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was bought at an average price of $5.94 per share, with a total value of $75,645.90. Following the acquisition, the chief executive officer now owns 414,932 shares of the company’s stock, valued at approximately $2,464,696.08. This represents a 3.17% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Carl Schweihs bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was purchased at an average cost of $6.25 per share, with a total value of $62,500.00. Following the acquisition, the chief financial officer now directly owns 166,551 shares in the company, valued at $1,040,943.75. This trade represents a 6.39% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 25,235 shares of company stock worth $151,271 in the last three months. Corporate insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of TrueBlue from a “sell” rating to a “hold” rating in a research note on Sunday, March 2nd.

TrueBlue Price Performance

Shares of TBI opened at $5.63 on Friday. The firm has a market cap of $168.19 million, a PE ratio of -1.35, a P/E/G ratio of 3.01 and a beta of 1.39. The company has a current ratio of 1.73, a quick ratio of 1.85 and a debt-to-equity ratio of 0.02. The firm has a fifty day simple moving average of $4.90 and a two-hundred day simple moving average of $6.61. TrueBlue, Inc. has a 1-year low of $3.45 and a 1-year high of $12.29.

TrueBlue (NYSE:TBI) last posted its quarterly earnings data on Monday, May 5th. The business services provider reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.17). The company had revenue of $370.25 million during the quarter, compared to analysts’ expectations of $362.37 million. TrueBlue had a negative return on equity of 3.90% and a negative net margin of 8.02%. On average, equities analysts anticipate that TrueBlue, Inc. will post 0.15 EPS for the current 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.