TrueBlue, Inc. $TBI Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors reduced its TrueBlue stake by 15.3% in the first quarter, selling 176,758 shares and retaining 979,203 shares worth approximately $3.83 million. Institutional investors collectively own 97.15% of the company.
• Analyst sentiment remains mixed: TrueBlue has an overall “Hold” consensus with a $7.75 average price target, although Wall Street Zen upgraded the stock to “Buy” and Zacks Research raised its rating to “Hold.”
• TrueBlue reported quarterly EPS of $0.06, beating estimates of a $0.10 loss, while revenue of $443 million exceeded expectations of $417.84 million. The stock opened at $9.85, near its 52-week high of $10.73.

Dimensional Fund Advisors LP lessened its holdings in shares of TrueBlue, Inc. (NYSE:TBI - Free Report) by 15.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 979,203 shares of the business services provider's stock after selling 176,758 shares during the period. Dimensional Fund Advisors LP owned 3.23% of TrueBlue worth $3,828,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TBI. XTX Topco Ltd lifted its stake in TrueBlue by 11.4% in the 2nd quarter. XTX Topco Ltd now owns 18,106 shares of the business services provider's stock worth $117,000 after purchasing an additional 1,858 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of TrueBlue by 6.5% in the second quarter. Hsbc Holdings PLC now owns 43,259 shares of the business services provider's stock valued at $288,000 after purchasing an additional 2,646 shares in the last quarter. Federated Hermes Inc. grew its position in shares of TrueBlue by 21.3% in the fourth quarter. Federated Hermes Inc. now owns 17,685 shares of the business services provider's stock valued at $80,000 after purchasing an additional 3,111 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of TrueBlue by 0.5% in the second quarter. Geode Capital Management LLC now owns 692,713 shares of the business services provider's stock valued at $4,490,000 after purchasing an additional 3,269 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC increased its holdings in shares of TrueBlue by 4.6% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 74,456 shares of the business services provider's stock valued at $339,000 after purchasing an additional 3,270 shares during the last quarter. Institutional investors and hedge funds own 97.15% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wall Street Zen raised TrueBlue from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Weiss Ratings raised TrueBlue from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, July 2nd. Robert W. Baird set a $9.50 price target on TrueBlue in a report on Wednesday, August 5th. Finally, Zacks Research upgraded TrueBlue from a "strong sell" rating to a "hold" rating in a report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, TrueBlue has an average rating of "Hold" and a consensus price target of $7.75.

TrueBlue Stock Performance

TrueBlue stock opened at $9.85 on Thursday. The firm has a 50 day simple moving average of $7.70 and a 200-day simple moving average of $5.73. The stock has a market cap of $299.87 million, a price-to-earnings ratio of -5.24, a price-to-earnings-growth ratio of 12.13 and a beta of 1.60. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.28 and a quick ratio of 2.28. TrueBlue, Inc. has a 1-year low of $3.18 and a 1-year high of $10.73.

TrueBlue (NYSE:TBI - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The business services provider reported $0.06 EPS for the quarter, beating 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 firm had revenue of $443.00 million for the quarter, compared to analyst estimates of $417.84 million. On average, analysts expect that TrueBlue, Inc. will post 0.06 EPS for the current year.

About TrueBlue

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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