Azarias Capital Management L.P. Has $13.36 Million Stock Position in TrueBlue, Inc. (NYSE:TBI)

Azarias Capital Management L.P. reduced its stake in TrueBlue, Inc. (NYSE:TBI - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,590,516 shares of the business services provider's stock after selling 131,832 shares during the period. TrueBlue comprises approximately 6.0% of Azarias Capital Management L.P.'s investment portfolio, making the stock its 7th largest position. Azarias Capital Management L.P. owned 5.38% of TrueBlue worth $13,360,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its position in TrueBlue by 0.3% during the 3rd quarter. State Street Corp now owns 665,901 shares of the business services provider's stock worth $5,254,000 after purchasing an additional 1,968 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of TrueBlue by 5.1% in the fourth quarter. Empowered Funds LLC now owns 172,069 shares of the business services provider's stock worth $1,445,000 after acquiring an additional 8,327 shares during the period. Quantbot Technologies LP bought a new stake in TrueBlue in the third quarter valued at approximately $79,000. SG Americas Securities LLC acquired a new stake in TrueBlue during the 4th quarter valued at approximately $108,000. Finally, Quantinno Capital Management LP bought a new position in TrueBlue during the 3rd quarter worth approximately $149,000. 97.15% of the stock is currently owned by institutional investors and hedge funds.

TrueBlue Price Performance

Shares of NYSE:TBI traded up $0.11 during mid-day trading on Monday, hitting $7.51. The company had a trading volume of 77,356 shares, compared to its average volume of 111,261. TrueBlue, Inc. has a one year low of $6.63 and a one year high of $13.08. The firm has a fifty day moving average price of $7.99 and a 200 day moving average price of $7.83. The company has a market capitalization of $221.94 million, a PE ratio of -1.96, a price-to-earnings-growth ratio of 3.66 and a beta of 1.42.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. StockNews.com raised shares of TrueBlue from a "sell" rating to a "hold" rating in a research note on Friday. BMO Capital Markets dropped their price objective on TrueBlue from $11.00 to $10.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 5th.

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.