Assenagon Asset Management S.A. Buys 96,072 Shares of TrueBlue, Inc. (NYSE:TBI)

Assenagon Asset Management S.A. increased its holdings in TrueBlue, Inc. (NYSE:TBI - Free Report) by 33.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 386,432 shares of the business services provider's stock after acquiring an additional 96,072 shares during the quarter. Assenagon Asset Management S.A. owned about 1.26% of TrueBlue worth $3,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Azarias Capital Management L.P. increased its stake in TrueBlue by 40.8% during the 2nd quarter. Azarias Capital Management L.P. now owns 1,247,222 shares of the business services provider's stock valued at $12,846,000 after purchasing an additional 361,101 shares in the last quarter. Invenomic Capital Management LP bought a new stake in TrueBlue during the 1st quarter valued at about $1,557,000. Marshall Wace LLP increased its stake in TrueBlue by 330.7% during the 2nd quarter. Marshall Wace LLP now owns 143,910 shares of the business services provider's stock valued at $1,482,000 after purchasing an additional 110,495 shares in the last quarter. Millennium Management LLC increased its stake in TrueBlue by 6.3% during the 2nd quarter. Millennium Management LLC now owns 532,039 shares of the business services provider's stock valued at $5,480,000 after purchasing an additional 31,683 shares in the last quarter. Finally, Paloma Partners Management Co bought a new stake in TrueBlue during the 1st quarter valued at about $376,000. 97.15% of the stock is currently owned by institutional investors.

TrueBlue Price Performance

Shares of TBI remained flat at $7.56 on Thursday. 79,298 shares of the company were exchanged, compared to its average volume of 321,112. The stock has a market capitalization of $231.11 million, a PE ratio of -2.11 and a beta of 1.49. The company's 50-day moving average price is $7.67 and its 200 day moving average price is $9.41. TrueBlue, Inc. has a one year low of $6.97 and a one year high of $16.14.

TrueBlue (NYSE:TBI - Get Free Report) last posted its quarterly earnings data on Monday, August 5th. The business services provider reported ($0.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.30). The business had revenue of $396.00 million during the quarter, compared to analysts' expectations of $414.49 million. TrueBlue had a negative return on equity of 0.55% and a negative net margin of 6.18%. The business's quarterly revenue was down 16.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.17 EPS. As a group, research analysts expect that TrueBlue, Inc. will post -0.65 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TBI shares. StockNews.com downgraded shares of TrueBlue from a "hold" rating to a "sell" rating in a report on Tuesday, August 6th. BMO Capital Markets dropped their price target on shares of TrueBlue from $13.00 to $12.00 and set an "outperform" rating on the stock in a report on Wednesday, August 7th.

TrueBlue 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.