Blue Bird Co. (NASDAQ:BLBD) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Blue Bird Co. (NASDAQ:BLBDFree Report) by 6.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 81,817 shares of the company’s stock after selling 5,514 shares during the period. Bank of New York Mellon Corp’s holdings in Blue Bird were worth $1,747,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company acquired a new position in shares of Blue Bird during the 1st quarter worth approximately $15,977,000. Marshall Wace LLP purchased a new stake in Blue Bird during the 2nd quarter worth $14,177,000. Driehaus Capital Management LLC purchased a new stake in Blue Bird during the 2nd quarter worth $12,504,000. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in Blue Bird by 294.5% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 710,625 shares of the company’s stock worth $15,975,000 after purchasing an additional 530,480 shares during the period. Finally, First Trust Advisors LP acquired a new position in Blue Bird in the 1st quarter worth $5,399,000.

Insider Activity at Blue Bird

In related news, CEO Phil Horlock sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $31.00, for a total value of $2,325,000.00. Following the completion of the sale, the chief executive officer now owns 374,812 shares in the company, valued at approximately $11,619,172. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Phil Horlock sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $31.00, for a total value of $2,325,000.00. Following the completion of the sale, the chief executive officer now owns 374,812 shares in the company, valued at approximately $11,619,172. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Asp Bb Holdings Llc sold 2,500,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $25.10, for a total transaction of $62,750,000.00. Following the completion of the sale, the insider now owns 4,042,650 shares of the company’s stock, valued at approximately $101,470,515. The disclosure for this sale can be found here. Insiders sold a total of 2,710,000 shares of company stock valued at $68,772,450 over the last ninety days. Insiders own 17.10% of the company’s stock.

Blue Bird Trading Up 0.5 %

Blue Bird stock opened at $31.17 on Wednesday. The firm has a 50 day simple moving average of $25.50 and a 200-day simple moving average of $21.91. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.03 and a quick ratio of 0.44. The stock has a market capitalization of $1.00 billion, a PE ratio of 42.12, a price-to-earnings-growth ratio of 0.44 and a beta of 1.31. Blue Bird Co. has a 12-month low of $13.30 and a 12-month high of $31.26.

Blue Bird (NASDAQ:BLBDGet Free Report) last released its earnings results on Monday, December 11th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.46 by $0.16. Blue Bird had a net margin of 2.10% and a return on equity of 314.14%. The business had revenue of $302.96 million during the quarter, compared to analyst estimates of $300.00 million. As a group, equities research analysts expect that Blue Bird Co. will post 1.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BLBD shares. TheStreet upgraded shares of Blue Bird from a “c” rating to a “b-” rating in a report on Tuesday, December 12th. StockNews.com lowered shares of Blue Bird from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 2nd. Finally, Craig Hallum upped their target price on shares of Blue Bird from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $29.63.

Get Our Latest Report on BLBD

Blue Bird Company Profile

(Free Report)

Blue Bird Corporation, together with its subsidiaries, designs, engineers, manufactures, and sells school buses in the United States, Canada, and internationally. The company operates through two segments, Bus and Parts. It offers Type C, Type D, and specialty buses; and alternative power options through its propane powered, gasoline powered, compressed natural gas powered, and electric powered school buses, as well as diesel engines.

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Institutional Ownership by Quarter for Blue Bird (NASDAQ:BLBD)

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