Assenagon Asset Management S.A. Sells 169,115 Shares of TrueBlue, Inc. (NYSE:TBI)

Assenagon Asset Management S.A. trimmed its holdings in shares of TrueBlue, Inc. (NYSE:TBI - Free Report) by 43.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 217,317 shares of the business services provider's stock after selling 169,115 shares during the period. Assenagon Asset Management S.A. owned about 0.74% of TrueBlue worth $1,825,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Royce & Associates LP increased its position in TrueBlue by 28.5% in the third quarter. Royce & Associates LP now owns 1,082,085 shares of the business services provider's stock worth $8,538,000 after buying an additional 239,740 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of TrueBlue by 230.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 46,687 shares of the business services provider's stock worth $368,000 after acquiring an additional 32,542 shares during the period. Barclays PLC increased its holdings in TrueBlue by 95.7% in the 3rd quarter. Barclays PLC now owns 67,353 shares of the business services provider's stock worth $531,000 after acquiring an additional 32,940 shares during the last quarter. State Street Corp raised its stake in TrueBlue by 0.3% in the 3rd quarter. State Street Corp now owns 665,901 shares of the business services provider's stock valued at $5,254,000 after acquiring an additional 1,968 shares during the period. Finally, Walleye Capital LLC purchased a new stake in TrueBlue during the third quarter valued at about $227,000. 97.15% of the stock is owned by hedge funds and other institutional investors.

TrueBlue Price Performance

Shares of TBI traded up $0.24 during midday trading on Friday, hitting $7.86. 119,154 shares of the company traded hands, compared to its average volume of 120,997. TrueBlue, Inc. has a one year low of $6.63 and a one year high of $14.91. The firm has a market cap of $232.19 million, a P/E ratio of -2.05, a PEG ratio of 3.71 and a beta of 1.43. The stock has a 50-day moving average of $7.87 and a 200-day moving average of $8.23.

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

Analysts Set New Price Targets

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

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.