Willis Investment Counsel Sells 32,984 Shares of Blue Bird Co. (NASDAQ:BLBD)

Willis Investment Counsel lessened its holdings in shares of Blue Bird Co. (NASDAQ:BLBD) by 23.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 110,264 shares of the company’s stock after selling 32,984 shares during the period. Willis Investment Counsel’s holdings in Blue Bird were worth $2,741,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Alliancebernstein L.P. boosted its holdings in Blue Bird by 10.7% in the second quarter. Alliancebernstein L.P. now owns 2,188,445 shares of the company’s stock valued at $54,405,000 after acquiring an additional 211,535 shares during the last quarter. Lansdowne Partners UK LLP boosted its holdings in Blue Bird by 66.8% in the second quarter. Lansdowne Partners UK LLP now owns 519,320 shares of the company’s stock valued at $12,911,000 after acquiring an additional 207,979 shares during the last quarter. Morgan Stanley boosted its holdings in Blue Bird by 372.3% in the first quarter. Morgan Stanley now owns 258,215 shares of the company’s stock valued at $6,462,000 after acquiring an additional 203,545 shares during the last quarter. Millennium Management LLC bought a new position in Blue Bird in the first quarter valued at about $3,441,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Blue Bird by 22.8% in the second quarter. The Manufacturers Life Insurance Company now owns 736,316 shares of the company’s stock valued at $18,305,000 after acquiring an additional 136,542 shares during the last quarter. Institutional investors own 88.47% of the company’s stock.

Several equities analysts recently issued reports on BLBD shares. Roth Capital decreased their price target on Blue Bird from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, August 13th. Zacks Investment Research upgraded Blue Bird from a “strong sell” rating to a “hold” rating in a report on Monday, October 4th.

NASDAQ:BLBD traded up $0.09 during mid-day trading on Monday, hitting $19.86. The company had a trading volume of 126 shares, compared to its average volume of 180,746. Blue Bird Co. has a fifty-two week low of $11.25 and a fifty-two week high of $28.90. The business’s fifty day moving average is $20.81 and its two-hundred day moving average is $23.91. The firm has a market cap of $540.27 million, a P/E ratio of 29.07 and a beta of 1.28.

Blue Bird (NASDAQ:BLBD) last released its earnings results on Wednesday, August 11th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.24). Blue Bird had a net margin of 1.82% and a negative return on equity of 35.68%. The company had revenue of $196.66 million during the quarter, compared to analyst estimates of $245.00 million. As a group, research analysts anticipate that Blue Bird Co. will post 0.34 earnings per share for the current year.

In related news, CEO Phil Horlock bought 5,000 shares of the business’s stock in a transaction on Thursday, August 19th. The shares were purchased at an average price of $20.26 per share, with a total value of $101,300.00. Following the completion of the purchase, the chief executive officer now owns 432,475 shares of the company’s stock, valued at approximately $8,761,943.50. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Blue Bird Company Profile

Blue Bird Corp. engages in the design and manufacture of school buses. It operates through the Bus and Parts business segments. The Bus segment includes the manufacturing and assembly of school buses to be sold to a variety of customers across the United States, Canada, and in international markets. The Parts segment provides routine maintenance, replacement of parts that are damaged in service, and replacement of parts that suffer from wear and tear.

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

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