Pzena Investment Management LLC Has $21.94 Million Holdings in TrueBlue, Inc. (NYSE:TBI)

Pzena Investment Management LLC cut its stake in TrueBlue, Inc. (NYSE:TBI - Free Report) by 3.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,780,117 shares of the business services provider's stock after selling 90,557 shares during the period. Pzena Investment Management LLC owned approximately 9.41% of TrueBlue worth $21,935,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Azarias Capital Management L.P. lifted its holdings 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 during the last quarter. Royce & Associates LP increased its position in TrueBlue by 28.5% in the 3rd quarter. Royce & Associates LP now owns 1,082,085 shares of the business services provider's stock valued at $8,538,000 after acquiring an additional 239,740 shares in the last quarter. Millennium Management LLC increased its position in TrueBlue by 6.3% in the 2nd quarter. Millennium Management LLC now owns 532,039 shares of the business services provider's stock valued at $5,480,000 after acquiring an additional 31,683 shares in the last quarter. Assenagon Asset Management S.A. increased its position in TrueBlue by 33.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 386,432 shares of the business services provider's stock valued at $3,049,000 after acquiring an additional 96,072 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of TrueBlue by 7.5% during the 2nd quarter. AQR Capital Management LLC now owns 333,100 shares of the business services provider's stock worth $3,431,000 after buying an additional 23,315 shares during the period. 97.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TBI shares. BMO Capital Markets lowered their target price on shares of TrueBlue from $11.00 to $10.00 and set an "outperform" rating for the company in a research note on Tuesday, November 5th. StockNews.com downgraded shares of TrueBlue from a "hold" rating to a "sell" rating in a research report on Tuesday, August 6th.

TrueBlue Stock Performance

Shares of NYSE TBI traded up $0.10 during midday trading on Thursday, reaching $6.96. The company's stock had a trading volume of 28,390 shares, compared to its average volume of 313,003. TrueBlue, Inc. has a fifty-two week low of $6.63 and a fifty-two week high of $16.14. The business's 50 day moving average price is $7.54 and its two-hundred day moving average price is $9.07. The company has a market cap of $205.74 million, a P/E ratio of -1.79 and a beta of 1.49.

TrueBlue (NYSE:TBI - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The business services provider reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.15) by $0.04. The business had revenue of $382.36 million for the quarter, compared to analysts' expectations of $386.07 million. TrueBlue had a negative net margin of 6.97% and a negative return on equity of 2.69%. The firm's quarterly revenue was down 19.2% compared to the same quarter last year. During the same period last year, the firm posted $0.16 earnings per share. Sell-side analysts forecast that TrueBlue, Inc. will post -0.56 earnings per share for the current fiscal year.

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.