TrueBlue, Inc. (NYSE:TBI) Short Interest Update

TrueBlue, Inc. (NYSE:TBI - Get Free Report) was the target of 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. Approximately 2.3% of the company's stock are sold short. Based on an average daily trading volume, of 344,000 shares, the days-to-cover ratio is presently 1.9 days.

Institutional Investors Weigh In On TrueBlue

Institutional investors and hedge funds have recently bought and sold shares of the stock. Strs Ohio acquired a new position in TrueBlue during the 1st quarter worth approximately $264,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of TrueBlue during the first quarter valued at $156,000. Cubist Systematic Strategies LLC raised its stake in shares of TrueBlue by 66.3% during the 1st quarter. Cubist Systematic Strategies LLC now owns 84,352 shares of the business services provider's stock worth $448,000 after purchasing an additional 33,638 shares in the last quarter. Trexquant Investment LP boosted its position in TrueBlue by 57.6% during the first quarter. Trexquant Investment LP now owns 90,140 shares of the business services provider's stock worth $479,000 after purchasing an additional 32,943 shares during the period. Finally, Walleye Capital LLC lifted its holdings in shares of TrueBlue by 11.6% during the first quarter. Walleye Capital LLC now owns 49,065 shares of the business services provider's stock worth $261,000 after buying an additional 5,117 shares during the last quarter. Hedge funds and other institutional investors own 97.15% of the company's stock.

TrueBlue Stock Performance

Shares of NYSE:TBI traded down $0.03 during trading on Wednesday, reaching $5.98. The company had a trading volume of 32,840 shares, compared to its average volume of 247,689. The stock's fifty day moving average price is $4.94 and its 200 day moving average price is $6.47. TrueBlue has a fifty-two week low of $3.45 and a fifty-two week high of $12.29. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.73 and a quick ratio of 1.85. The firm has a market capitalization of $178.44 million, a price-to-earnings ratio of -1.44, a price-to-earnings-growth ratio of 3.01 and a beta of 1.39.

TrueBlue (NYSE:TBI - Get Free Report) last released its earnings results on Monday, May 5th. The business services provider reported ($0.40) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $370.25 million during the quarter, compared to analyst estimates of $362.37 million. As a group, equities research analysts predict that TrueBlue will post 0.15 EPS for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of TrueBlue from a "sell" rating to a "hold" rating in a research report 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.