TrueBlue, Inc. (NYSE:TBI) Short Interest Down 25.2% in May

TrueBlue, Inc. (NYSE:TBI - Get Free Report) saw a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 659,200 shares, a decline of 25.2% from the April 30th total of 880,700 shares. Based on an average daily volume of 344,000 shares, the days-to-cover ratio is currently 1.9 days. Currently, 2.3% of the shares of the stock are sold short.

TrueBlue Trading Up 0.3%

NYSE:TBI traded up $0.02 on Thursday, reaching $6.01. 172,504 shares of the company's stock were exchanged, compared to its average volume of 248,767. The firm has a market capitalization of $179.48 million, a price-to-earnings ratio of -1.44, a price-to-earnings-growth ratio of 3.01 and a beta of 1.39. The business has a fifty day moving average of $4.95 and a 200-day moving average of $6.47. TrueBlue has a 52-week low of $3.45 and a 52-week high of $12.29. The company has a quick ratio of 1.85, a current ratio of 1.73 and a debt-to-equity ratio of 0.02.

TrueBlue (NYSE:TBI - Get Free Report) last issued its earnings results on Monday, May 5th. The business services provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.17). TrueBlue had a negative net margin of 8.02% and a negative return on equity of 3.90%. The company had revenue of $370.25 million during the quarter, compared to analyst estimates of $362.37 million. As a group, analysts expect that TrueBlue will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On TrueBlue

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in TrueBlue by 217.2% during 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 purchased a new stake in TrueBlue during the 1st quarter worth about $86,000. AE Wealth Management LLC increased its position in 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 purchasing an additional 6,973 shares in the last quarter. SG Americas Securities LLC purchased a new stake in TrueBlue in the 4th quarter valued at about $108,000. Finally, Proficio Capital Partners LLC purchased a new stake in TrueBlue in the 4th quarter valued at about $116,000. 97.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of TrueBlue from a "sell" rating to a "hold" rating in a research note on Sunday, March 2nd.

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.