Invenomic Capital Management LP Has $2.87 Million Stock Holdings in TrueBlue, Inc. (NYSE:TBI)

Invenomic Capital Management LP lifted its stake in shares of TrueBlue, Inc. (NYSE:TBI - Free Report) by 45.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 341,383 shares of the business services provider's stock after purchasing an additional 106,736 shares during the quarter. Invenomic Capital Management LP owned 1.15% of TrueBlue worth $2,868,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TBI. SG Americas Securities LLC bought a new stake in shares of TrueBlue during the 4th quarter valued at approximately $108,000. Proficio Capital Partners LLC bought a new stake in TrueBlue during the 4th quarter worth approximately $116,000. MetLife Investment Management LLC grew its holdings in TrueBlue by 23.5% during the 4th quarter. MetLife Investment Management LLC now owns 15,886 shares of the business services provider's stock worth $133,000 after acquiring an additional 3,028 shares during the last quarter. Wells Fargo & Company MN grew its holdings in TrueBlue by 24.7% during the 4th quarter. Wells Fargo & Company MN now owns 17,112 shares of the business services provider's stock worth $144,000 after acquiring an additional 3,393 shares during the last quarter. Finally, Manatuck Hill Partners LLC bought a new stake in TrueBlue during the 4th quarter worth approximately $252,000. 97.15% of the stock is owned by institutional investors.

TrueBlue Trading Up 9.6%

TBI traded up $0.49 during trading on Friday, reaching $5.63. 582,862 shares of the company's stock were exchanged, compared to its average volume of 251,188. TrueBlue, Inc. has a one year low of $3.45 and a one year high of $12.29. The company has a current ratio of 1.73, a quick ratio of 1.85 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $168.19 million, a PE ratio of -1.35, a price-to-earnings-growth ratio of 3.01 and a beta of 1.39. The firm has a fifty day moving average price of $4.90 and a two-hundred day moving average price of $6.61.

TrueBlue (NYSE:TBI - Get Free Report) last posted its 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 return on equity of 3.90% and a negative net margin of 8.02%. The business had revenue of $370.25 million for the quarter, compared to the consensus estimate of $362.37 million. As a group, equities research analysts forecast that TrueBlue, Inc. will post 0.15 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Taryn R. Owen acquired 12,735 shares of TrueBlue stock in a transaction dated Wednesday, February 26th. The shares were bought at an average cost of $5.94 per share, with a total value of $75,645.90. Following the purchase, the chief executive officer now owns 414,932 shares in the company, valued at $2,464,696.08. This trade represents a 3.17% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Carl Schweihs acquired 10,000 shares of TrueBlue stock in a transaction dated Monday, February 24th. The stock was purchased at an average cost of $6.25 per share, for a total transaction of $62,500.00. Following the completion of the purchase, the chief financial officer now owns 166,551 shares in the company, valued at approximately $1,040,943.75. The trade was a 6.39% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 25,235 shares of company stock valued at $151,271. 5.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

TrueBlue 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.