Ameriprise Financial Inc. Sells 117,035 Shares of TrueBlue, Inc. (NYSE:TBI)

Ameriprise Financial Inc. lowered its holdings in TrueBlue, Inc. (NYSE:TBI - Free Report) by 32.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 239,150 shares of the business services provider's stock after selling 117,035 shares during the period. Ameriprise Financial Inc. owned about 0.81% of TrueBlue worth $2,009,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TBI. SG Americas Securities LLC acquired a new position in shares of TrueBlue in the fourth quarter worth about $108,000. Proficio Capital Partners LLC acquired a new stake in shares of TrueBlue during the fourth quarter worth approximately $116,000. MetLife Investment Management LLC boosted its holdings in shares of TrueBlue by 23.5% during the fourth quarter. MetLife Investment Management LLC now owns 15,886 shares of the business services provider's stock worth $133,000 after purchasing an additional 3,028 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of TrueBlue by 24.7% during the fourth quarter. Wells Fargo & Company MN now owns 17,112 shares of the business services provider's stock worth $144,000 after purchasing an additional 3,393 shares during the period. Finally, Manatuck Hill Partners LLC acquired a new stake in shares of TrueBlue during the fourth quarter worth approximately $252,000. Institutional investors and hedge funds own 97.15% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of TrueBlue from a "sell" rating to a "hold" rating in a report on Sunday, March 2nd.

TrueBlue Stock Up 1.2%

TBI traded up $0.07 during midday trading on Friday, hitting $6.00. 175,240 shares of the company's stock traded hands, compared to its average volume of 248,360. 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 fifty day simple moving average is $4.93 and its 200-day simple moving average is $6.49. 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, Inc. has a one year low of $3.45 and a one year high of $12.29.

TrueBlue (NYSE:TBI - Get Free Report) last released its quarterly earnings results 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 net margin of 8.02% and a negative return on equity of 3.90%. The firm had revenue of $370.25 million during the quarter, compared to the consensus estimate of $362.37 million. As a group, equities analysts anticipate that TrueBlue, Inc. will post 0.15 earnings per share for the current fiscal 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.