Vanguard Group Inc. Sells 693,803 Shares of TrueBlue, Inc. (NYSE:TBI)

Vanguard Group Inc. cut its position in TrueBlue, Inc. (NYSE:TBI) by 16.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,458,476 shares of the business services provider’s stock after selling 693,803 shares during the period. Vanguard Group Inc. owned about 11.11% of TrueBlue worth $50,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of TBI. Quarry LP increased its stake in TrueBlue by 327.2% in the 1st quarter. Quarry LP now owns 1,713 shares of the business services provider’s stock worth $30,000 after buying an additional 1,312 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of TrueBlue by 299.1% during the second quarter. Tower Research Capital LLC TRC now owns 2,586 shares of the business services provider’s stock worth $46,000 after purchasing an additional 1,938 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of TrueBlue during the third quarter worth about $47,000. Royal Bank of Canada raised its stake in TrueBlue by 76.3% during the 2nd quarter. Royal Bank of Canada now owns 3,173 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 1,373 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in TrueBlue in the 2nd quarter worth approximately $58,000. 97.15% of the stock is currently owned by institutional investors.

TrueBlue Price Performance

Shares of TBI opened at $11.83 on Tuesday. The firm has a market cap of $371.34 million, a P/E ratio of -26.29 and a beta of 1.48. TrueBlue, Inc. has a 1 year low of $10.15 and a 1 year high of $19.06. The company has a 50 day simple moving average of $12.34 and a two-hundred day simple moving average of $13.48.

TrueBlue (NYSE:TBI) last issued its earnings results on Wednesday, February 21st. The business services provider reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.23. The firm had revenue of $492.17 million during the quarter, compared to analyst estimates of $472.53 million. TrueBlue had a negative net margin of 0.74% and a positive return on equity of 2.39%. TrueBlue’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 earnings per share. On average, sell-side analysts anticipate that TrueBlue, Inc. will post -0.51 earnings per share for the current year.

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.