Blue Bird Corporation $BLBD Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB decreased its stake in Blue Bird Corporation (NASDAQ:BLBD) by 0.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 81,569 shares of the company’s stock after selling 474 shares during the quarter. Nordea Investment Management AB owned 0.26% of Blue Bird worth $3,513,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of Blue Bird by 27.9% in the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 823,096 shares of the company’s stock valued at $35,525,000 after purchasing an additional 179,500 shares during the period. Atria Wealth Solutions Inc. acquired a new stake in Blue Bird during the 2nd quarter worth about $234,000. Allspring Global Investments Holdings LLC boosted its position in Blue Bird by 88.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 369,992 shares of the company’s stock worth $16,354,000 after acquiring an additional 173,253 shares during the period. CWM LLC boosted its position in Blue Bird by 40.0% during the 2nd quarter. CWM LLC now owns 5,279 shares of the company’s stock worth $228,000 after acquiring an additional 1,508 shares during the period. Finally, Concurrent Investment Advisors LLC boosted its position in Blue Bird by 5.4% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 8,995 shares of the company’s stock worth $388,000 after acquiring an additional 457 shares during the period. Institutional investors and hedge funds own 93.59% of the company’s stock.

Blue Bird Stock Up 0.8%

BLBD opened at $55.77 on Wednesday. Blue Bird Corporation has a fifty-two week low of $30.04 and a fifty-two week high of $61.95. The business has a 50-day moving average of $56.96 and a 200-day moving average of $46.37. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.58 and a quick ratio of 0.92. The company has a market capitalization of $1.77 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 1.51 and a beta of 1.64.

Blue Bird (NASDAQ:BLBD) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.29. Blue Bird had a return on equity of 61.66% and a net margin of 8.16%.The company had revenue of $398.01 million during the quarter, compared to the consensus estimate of $377.64 million. During the same period last year, the business earned $0.91 EPS. The business’s quarterly revenue was up 19.4% on a year-over-year basis. Equities research analysts forecast that Blue Bird Corporation will post 3.86 EPS for the current fiscal year.

Insider Activity at Blue Bird

In related news, SVP Ted Scartz sold 8,877 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $55.22, for a total value of $490,187.94. Following the transaction, the senior vice president directly owned 48,769 shares of the company’s stock, valued at approximately $2,693,024.18. This trade represents a 15.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Razvan Radulescu sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $53.21, for a total value of $532,100.00. Following the completion of the transaction, the chief financial officer directly owned 48,203 shares in the company, valued at $2,564,881.63. The trade was a 17.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,392 shares of company stock valued at $7,342,183. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on BLBD shares. Needham & Company LLC raised their price objective on Blue Bird from $49.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Zacks Research lowered Blue Bird from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. BTIG Research raised their price objective on Blue Bird from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Finally, Wall Street Zen upgraded Blue Bird from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.58.

Blue Bird Profile

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.