Point72 Asia Singapore Pte. Ltd. Sells 6,481 Shares of TrueBlue, Inc. (NYSE:TBI)

Point72 Asia Singapore Pte. Ltd. lessened its stake in shares of TrueBlue, Inc. (NYSE:TBI) by 23.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 21,004 shares of the business services provider’s stock after selling 6,481 shares during the period. Point72 Asia Singapore Pte. Ltd. owned 0.07% of TrueBlue worth $166,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. nVerses Capital LLC bought a new position in shares of TrueBlue in the second quarter worth about $35,000. Quantbot Technologies LP bought a new position in shares of TrueBlue in the third quarter worth about $79,000. Algert Global LLC bought a new position in shares of TrueBlue in the second quarter worth about $208,000. XTX Topco Ltd boosted its stake in shares of TrueBlue by 19.4% in the second quarter. XTX Topco Ltd now owns 22,725 shares of the business services provider’s stock worth $234,000 after acquiring an additional 3,689 shares during the period. Finally, Walleye Capital LLC bought a new position in shares of TrueBlue in the third quarter worth about $227,000. Institutional investors own 97.15% of the company’s stock.

TrueBlue Price Performance

Shares of TBI stock opened at $8.20 on Thursday. The stock’s 50 day simple moving average is $7.48 and its two-hundred day simple moving average is $8.83. TrueBlue, Inc. has a 1 year low of $6.63 and a 1 year high of $16.14. The company has a market cap of $242.39 million, a PE ratio of -2.14 and a beta of 1.47.

TrueBlue (NYSE:TBI) last issued its quarterly earnings results on Monday, November 4th. The business services provider reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.04. TrueBlue had a negative return on equity of 2.69% and a negative net margin of 6.97%. The firm had revenue of $382.36 million for the quarter, compared to the consensus estimate of $386.07 million. During the same period in the prior year, the business posted $0.16 earnings per share. The company’s revenue for the quarter was down 19.2% on a year-over-year basis. Equities research analysts expect that TrueBlue, Inc. will post -0.56 EPS for the current year.

Analysts Set New Price Targets

Separately, BMO Capital Markets decreased their target price on TrueBlue from $11.00 to $10.00 and set an “outperform” rating on the stock in a research 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.