JPMorgan Chase & Co. Sells 461,433 Shares of TrueBlue, Inc. (NYSE:TBI)

JPMorgan Chase & Co. decreased its stake in shares of TrueBlue, Inc. (NYSE:TBI - Free Report) by 80.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 109,511 shares of the business services provider's stock after selling 461,433 shares during the period. JPMorgan Chase & Co. owned about 0.37% of TrueBlue worth $864,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of TrueBlue by 0.3% in the third quarter. State Street Corp now owns 665,901 shares of the business services provider's stock worth $5,254,000 after buying an additional 1,968 shares during the last quarter. XTX Topco Ltd boosted its stake in shares of TrueBlue by 19.4% during the 2nd 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 last quarter. Sei Investments Co. grew its position in shares of TrueBlue by 22.5% during the 2nd quarter. Sei Investments Co. now owns 40,329 shares of the business services provider's stock valued at $415,000 after acquiring an additional 7,400 shares during the period. Pacific Ridge Capital Partners LLC increased its stake in shares of TrueBlue by 18.0% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 48,961 shares of the business services provider's stock worth $504,000 after purchasing an additional 7,479 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in TrueBlue in the 3rd quarter worth $79,000. Hedge funds and other institutional investors own 97.15% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on TBI shares. StockNews.com raised TrueBlue from a "sell" rating to a "hold" rating in a research note on Friday, December 27th. BMO Capital Markets decreased their target price on shares of TrueBlue from $11.00 to $10.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 5th.

TrueBlue Stock Up 3.1 %

TBI stock traded up $0.24 during trading on Friday, reaching $7.86. The company's stock had a trading volume of 119,154 shares, compared to its average volume of 106,280. The company's fifty day moving average is $7.89 and its 200-day moving average is $8.21. TrueBlue, Inc. has a 1 year low of $6.63 and a 1 year high of $14.91. The company has a market capitalization of $232.19 million, a P/E ratio of -2.05, a price-to-earnings-growth ratio of 3.71 and a beta of 1.43.

TrueBlue (NYSE:TBI - Get Free Report) last issued its earnings results 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. TrueBlue had a negative return on equity of 2.69% and a negative net margin of 6.97%. The company had revenue of $382.36 million for the quarter, compared to the consensus estimate of $386.07 million. During the same quarter last year, the company earned $0.16 EPS. The firm's quarterly revenue was down 19.2% on a year-over-year basis. Analysts anticipate that TrueBlue, Inc. will post -0.56 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.