160,000 Shares in TrueBlue, Inc. $TBI Acquired by Manatuck Hill Partners LLC

Manatuck Hill Partners LLC purchased a new stake in TrueBlue, Inc. (NYSE:TBI) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 160,000 shares of the business services provider’s stock, valued at approximately $1,115,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TBI. Fifth Third Bancorp acquired a new stake in shares of TrueBlue in the first quarter worth $41,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of TrueBlue during the 4th quarter valued at $48,000. Federated Hermes Inc. purchased a new stake in TrueBlue during the 2nd quarter worth $69,000. Simplex Trading LLC boosted its position in TrueBlue by 56.9% during the 4th quarter. Simplex Trading LLC now owns 11,018 shares of the business services provider’s stock worth $50,000 after purchasing an additional 3,995 shares during the period. Finally, Ieq Capital LLC acquired a new stake in TrueBlue in the 2nd quarter valued at $78,000. 97.15% of the stock is owned by institutional investors and hedge funds.

TrueBlue Price Performance

Shares of TBI stock opened at $10.73 on Wednesday. The company has a market capitalization of $326.62 million, a PE ratio of -5.71, a price-to-earnings-growth ratio of 12.70 and a beta of 1.60. The firm has a fifty day simple moving average of $8.36 and a 200-day simple moving average of $6.06. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.32. TrueBlue, Inc. has a twelve month low of $3.18 and a twelve month high of $11.03.

TrueBlue (NYSE:TBI) last released its quarterly earnings results on Tuesday, August 4th. The business services provider reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.16. TrueBlue had a negative net margin of 3.35% and a negative return on equity of 6.26%. The business had revenue of $443.00 million during the quarter, compared to analyst estimates of $417.84 million. Equities research analysts anticipate that TrueBlue, Inc. will post 0.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on TBI. Wall Street Zen raised TrueBlue from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Robert W. Baird set a $9.50 target price on TrueBlue in a research note on Wednesday, August 5th. Finally, Weiss Ratings upgraded TrueBlue from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.75.

About TrueBlue

TrueBlue, Inc is a Tacoma, Washington–based workforce solutions provider specializing in temporary staffing, permanent placement and managed service solutions. Operating through its subsidiaries and brands, TrueBlue connects clients across manufacturing, logistics, retail, construction and public sector markets with skilled professionals for both short-term and long-term engagements. The company’s offerings encompass on-demand blue-collar labor, specialized industrial staffing, recruitment process outsourcing (RPO) and contingent workforce management.

TrueBlue’s primary service lines include PeopleReady, which supplies general labor for construction, hospitality and event services; PeopleManagement, which focuses on technical and industrial professionals; PeopleScout, a global RPO business offering end-to-end talent acquisition and consulting; and Staff Management | SMX, which delivers seasonal staffing for large-scale events, amusement parks and federal workforce contracts.