Azarias Capital Management L.P. Purchases New Position in TrueBlue, Inc. (NYSE:TBI)

Azarias Capital Management L.P. acquired a new position in shares of TrueBlue, Inc. (NYSE:TBI - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 298,694 shares of the business services provider's stock, valued at approximately $4,582,000. TrueBlue comprises 2.0% of Azarias Capital Management L.P.'s portfolio, making the stock its 19th largest holding. Azarias Capital Management L.P. owned 0.96% of TrueBlue at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in TrueBlue by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 359,658 shares of the business services provider's stock worth $10,392,000 after purchasing an additional 1,017 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of TrueBlue by 22.4% during the first quarter. American Century Companies Inc. now owns 72,782 shares of the business services provider's stock worth $2,102,000 after buying an additional 13,334 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of TrueBlue in the first quarter valued at about $272,000. Citigroup Inc. boosted its position in shares of TrueBlue by 6.1% in the first quarter. Citigroup Inc. now owns 34,824 shares of the business services provider's stock valued at $1,006,000 after acquiring an additional 1,993 shares during the period. Finally, MetLife Investment Management LLC grew its stake in shares of TrueBlue by 63.7% in the first quarter. MetLife Investment Management LLC now owns 17,940 shares of the business services provider's stock valued at $518,000 after acquiring an additional 6,984 shares in the last quarter. Institutional investors own 97.15% of the company's stock.

TrueBlue Price Performance

TrueBlue stock traded up $0.06 during midday trading on Friday, hitting $12.52. The company's stock had a trading volume of 352,038 shares, compared to its average volume of 857,307. The company has a market cap of $393.00 million, a price-to-earnings ratio of -27.82 and a beta of 1.48. TrueBlue, Inc. has a 1-year low of $10.15 and a 1-year high of $19.06. The company has a 50-day moving average price of $12.58 and a two-hundred day moving average price of $13.56.

TrueBlue (NYSE:TBI - Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.23. The company had revenue of $492.17 million during the quarter, compared to the consensus estimate of $472.53 million. TrueBlue had a negative net margin of 0.74% and a positive return on equity of 2.39%. The firm's quarterly revenue was down 11.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.43 earnings per share. Sell-side analysts forecast that TrueBlue, Inc. will post -0.51 EPS for the current 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.

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