TrueBlue, Inc. (NYSE:TBI) Stock Holdings Increased by Pzena Investment Management LLC

Pzena Investment Management LLC grew its position in shares of TrueBlue, Inc. (NYSE:TBI) by 27.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,092,337 shares of the business services provider’s stock after buying an additional 661,496 shares during the period. Pzena Investment Management LLC owned about 9.93% of TrueBlue worth $47,436,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TBI. Quest Partners LLC acquired a new stake in TrueBlue during the fourth quarter worth about $74,000. Quantbot Technologies LP acquired a new stake in shares of TrueBlue during the 3rd quarter worth approximately $158,000. Jump Financial LLC acquired a new position in TrueBlue during the 3rd quarter valued at approximately $162,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in TrueBlue by 46.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,483 shares of the business services provider’s stock valued at $168,000 after purchasing an additional 3,635 shares during the period. Finally, Maryland State Retirement & Pension System acquired a new position in TrueBlue during the 4th quarter valued at approximately $175,000. Institutional investors and hedge funds own 97.15% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TBI shares. BMO Capital Markets reduced their price target on shares of TrueBlue from $15.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. Robert W. Baird reduced their price target on shares of TrueBlue from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, May 7th.

TrueBlue Stock Performance

Shares of TBI traded down $0.28 during midday trading on Thursday, hitting $10.82. 57,395 shares of the stock traded hands, compared to its average volume of 389,047. TrueBlue, Inc. has a 1-year low of $10.15 and a 1-year high of $19.06. The business’s 50 day moving average price is $11.26 and its two-hundred day moving average price is $12.85.

TrueBlue (NYSE:TBI) last announced its quarterly earnings results on Monday, May 6th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.46. The company had revenue of $403.00 million during the quarter, compared to the consensus estimate of $400.24 million. TrueBlue had a negative net margin of 0.63% and a positive return on equity of 3.02%. The company’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) earnings per share. As a group, equities analysts anticipate that TrueBlue, Inc. will post 0.06 earnings per share 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.