Azarias Capital Management L.P. Sells 516,447 Shares of TrueBlue, Inc. (NYSE:TBI)

Azarias Capital Management L.P. decreased its holdings in shares of TrueBlue, Inc. (NYSE:TBI - Free Report) by 32.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,074,069 shares of the business services provider's stock after selling 516,447 shares during the quarter. TrueBlue makes up about 3.2% of Azarias Capital Management L.P.'s holdings, making the stock its 12th biggest position. Azarias Capital Management L.P. owned approximately 3.62% of TrueBlue worth $5,703,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TBI. GAMMA Investing LLC grew its stake in TrueBlue by 217.2% in the 1st quarter. GAMMA Investing LLC now owns 8,135 shares of the business services provider's stock valued at $43,000 after buying an additional 5,570 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in TrueBlue in the 4th quarter valued at $116,000. MetLife Investment Management LLC grew its stake in TrueBlue by 23.5% in the 4th quarter. MetLife Investment Management LLC now owns 15,886 shares of the business services provider's stock valued at $133,000 after buying an additional 3,028 shares during the last quarter. Wells Fargo & Company MN grew its stake in TrueBlue by 24.7% in the 4th quarter. Wells Fargo & Company MN now owns 17,112 shares of the business services provider's stock valued at $144,000 after buying an additional 3,393 shares during the last quarter. Finally, State of Wyoming grew its stake in TrueBlue by 17.4% in the 4th quarter. State of Wyoming now owns 21,192 shares of the business services provider's stock valued at $178,000 after buying an additional 3,134 shares during the last quarter. Institutional investors and hedge funds own 97.15% of the company's stock.

TrueBlue Stock Performance

TrueBlue stock traded down $0.23 during mid-day trading on Friday, reaching $6.85. The company had a trading volume of 740,765 shares, compared to its average volume of 249,208. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.19. TrueBlue, Inc. has a 52 week low of $3.45 and a 52 week high of $12.29. The company has a 50 day moving average of $5.36 and a 200-day moving average of $6.41. The firm has a market cap of $204.54 million, a price-to-earnings ratio of -1.49 and a beta of 1.52.

TrueBlue (NYSE:TBI - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The business services provider reported ($0.40) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.17). TrueBlue had a negative net margin of 9.02% and a negative return on equity of 8.25%. The company had revenue of $370.25 million during the quarter, compared to the consensus estimate of $362.37 million. On average, sell-side analysts expect that TrueBlue, Inc. will post 0.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

TrueBlue Company Profile

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.