Manatuck Hill Partners LLC Invests $1.11 Million in TrueBlue, Inc. $TBI

Key Points

• Manatuck Hill Partners acquired 160,000 TrueBlue shares worth approximately $1.11 million, representing about 0.53% of the company. Institutional investors collectively own 97.15% of TrueBlue’s stock.
• TrueBlue reported quarterly revenue of $443 million and EPS of $0.06, surpassing analyst expectations of $417.84 million in revenue and a $0.10-per-share loss.
• The stock traded at $10.73, near its 12-month high, while analysts maintained an overall “Hold” rating with an average price target of $7.75.

Manatuck Hill Partners LLC acquired a new stake in TrueBlue, Inc. (NYSE:TBI - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 160,000 shares of the business services provider's stock, valued at approximately $1,115,000. Manatuck Hill Partners LLC owned approximately 0.53% of TrueBlue as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp acquired a new position in TrueBlue in the 1st quarter valued at about $41,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of TrueBlue during the 4th quarter worth about $48,000. Simplex Trading LLC grew its holdings in shares of TrueBlue by 56.9% during the fourth quarter. Simplex Trading LLC now owns 11,018 shares of the business services provider's stock worth $50,000 after buying an additional 3,995 shares in the last quarter. Glenmede Trust Co. NA purchased a new stake in shares of TrueBlue during the first quarter worth about $53,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of TrueBlue in the fourth quarter valued at approximately $53,000. Hedge funds and other institutional investors own 97.15% of the company's stock.

TrueBlue Trading Up 0.6%

NYSE TBI opened at $10.73 on Wednesday. The company has a market cap of $326.62 million, a P/E ratio of -5.71, a P/E/G ratio of 12.70 and a beta of 1.60. TrueBlue, Inc. has a 12 month low of $3.18 and a 12 month high of $11.03. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.28 and a quick ratio of 2.28. The company has a 50-day moving average of $8.36 and a 200-day moving average of $6.06.

TrueBlue (NYSE:TBI - Get Free Report) last released its earnings results on Tuesday, August 4th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $417.84 million. As a group, equities analysts predict that TrueBlue, Inc. will post 0.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TBI shares. Robert W. Baird set a $9.50 target price on shares of TrueBlue in a research report on Wednesday, August 5th. Wall Street Zen upgraded TrueBlue from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Weiss Ratings raised TrueBlue from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $7.75.

TrueBlue Company Profile

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.

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