Pzena Investment Management LLC Buys 84,085 Shares of TrueBlue, Inc. $TBI

Key Points

• Pzena Investment Management LLC increased its stake in TrueBlue, Inc. by 3.0% during Q2 2023, acquiring an additional 84,085 shares to hold a total of 2,919,252 shares, valued at about $18.9 million.
• TrueBlue's stock is currently trading at $5.59, up 0.7%, with a 52-week range between $3.45 and $9.05.
• Following its latest earnings report, TrueBlue's EPS of ($0.07) exceeded estimates, while its revenue of $396.30 million fell short of the expected $400.52 million.

Pzena Investment Management LLC grew its stake in TrueBlue, Inc. (NYSE:TBI - Free Report) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,919,252 shares of the business services provider's stock after acquiring an additional 84,085 shares during the period. Pzena Investment Management LLC owned 9.78% of TrueBlue worth $18,917,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TBI. GAMMA Investing LLC grew its stake in TrueBlue by 217.2% in the first quarter. GAMMA Investing LLC now owns 8,135 shares of the business services provider's stock worth $43,000 after purchasing an additional 5,570 shares in the last quarter. XTX Topco Ltd bought a new position in TrueBlue in the first quarter worth approximately $86,000. Kapitalo Investimentos Ltda bought a new position in shares of TrueBlue during the 2nd quarter worth $88,000. AE Wealth Management LLC grew its position in shares of TrueBlue by 55.2% during the 1st quarter. AE Wealth Management LLC now owns 19,616 shares of the business services provider's stock worth $104,000 after buying an additional 6,973 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of TrueBlue during the 1st quarter worth $156,000. 97.15% of the stock is currently owned by institutional investors.

TrueBlue Stock Up 0.7%

NYSE:TBI opened at $5.59 on Tuesday. TrueBlue, Inc. has a fifty-two week low of $3.45 and a fifty-two week high of $9.05. The stock has a market capitalization of $167.08 million, a P/E ratio of -4.86 and a beta of 1.54. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.94 and a current ratio of 1.94. The company's 50-day simple moving average is $5.99 and its 200-day simple moving average is $5.85.

TrueBlue (NYSE:TBI - Get Free Report) last announced its earnings results on Monday, August 4th. The business services provider reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.24. The company had revenue of $396.30 million during the quarter, compared to the consensus estimate of $400.52 million. TrueBlue had a negative net margin of 2.21% and a negative return on equity of 5.74%. TrueBlue has set its Q3 2025 guidance at EPS. On average, equities analysts anticipate that TrueBlue, Inc. will post 0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on TBI shares. BMO Capital Markets increased their target price on shares of TrueBlue from $7.00 to $8.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of TrueBlue in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $8.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.