Millennium Management LLC Sells 139,606 Shares of TrueBlue, Inc. (NYSE:TBI)

Millennium Management LLC decreased its position in shares of TrueBlue, Inc. (NYSE:TBI) by 24.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 441,662 shares of the business services provider’s stock after selling 139,606 shares during the quarter. Millennium Management LLC’s holdings in TrueBlue were worth $3,710,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Royce & Associates LP lifted its stake in shares of TrueBlue by 40.8% during the 4th quarter. Royce & Associates LP now owns 1,523,193 shares of the business services provider’s stock worth $12,795,000 after purchasing an additional 441,108 shares during the last quarter. RBF Capital LLC raised its stake in TrueBlue by 852.8% in the fourth quarter. RBF Capital LLC now owns 381,136 shares of the business services provider’s stock valued at $3,202,000 after buying an additional 341,136 shares during the last quarter. Advantage Alpha Capital Partners LP purchased a new stake in TrueBlue in the fourth quarter valued at about $1,980,000. Proficio Capital Partners LLC purchased a new stake in TrueBlue in the fourth quarter valued at about $978,000. Finally, JPMorgan Chase & Co. raised its stake in TrueBlue by 99.6% in the fourth quarter. JPMorgan Chase & Co. now owns 218,552 shares of the business services provider’s stock valued at $1,836,000 after buying an additional 109,041 shares during the last quarter. Institutional investors own 97.15% of the company’s stock.

TrueBlue Stock Performance

NYSE TBI opened at $6.00 on Friday. The company has a market cap of $179.18 million, a PE ratio of -1.44, a price-to-earnings-growth ratio of 3.01 and a beta of 1.39. The stock’s 50 day simple moving average is $4.93 and its 200-day simple moving average is $6.49. TrueBlue, Inc. has a 1-year low of $3.45 and a 1-year high of $12.29. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.73 and a quick ratio of 1.85.

TrueBlue (NYSE:TBI) last announced its quarterly earnings data on Monday, May 5th. The business services provider reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.17). TrueBlue had a negative return on equity of 3.90% and a negative net margin of 8.02%. The company had revenue of $370.25 million for the quarter, compared to analysts’ expectations of $362.37 million. As a group, equities research analysts anticipate that TrueBlue, Inc. will post 0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised TrueBlue from a “sell” rating to a “hold” rating in a report on Sunday, March 2nd.

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.