Jupiter Asset Management Ltd. Buys 38,664 Shares of Blue Bird Corporation $BLBD

Jupiter Asset Management Ltd. increased its position in Blue Bird Corporation (NASDAQ:BLBD) by 355.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,533 shares of the company’s stock after acquiring an additional 38,664 shares during the period. Jupiter Asset Management Ltd. owned about 0.16% of Blue Bird worth $2,138,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Westwood Holdings Group Inc. lifted its position in shares of Blue Bird by 24.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,402,214 shares of the company’s stock valued at $77,760,000 after buying an additional 468,936 shares in the last quarter. American Century Companies Inc. increased its stake in Blue Bird by 1,394.9% in the 1st quarter. American Century Companies Inc. now owns 1,619,494 shares of the company’s stock worth $52,423,000 after acquiring an additional 1,511,158 shares during the last quarter. Wellington Management Group LLP raised its stake in Blue Bird by 1.8% during the first quarter. Wellington Management Group LLP now owns 1,358,691 shares of the company’s stock valued at $43,981,000 after purchasing an additional 23,569 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Blue Bird by 13.6% in the 1st quarter. Alliancebernstein L.P. now owns 936,495 shares of the company’s stock valued at $30,314,000 after acquiring an additional 112,197 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings 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 worth $35,525,000 after purchasing an additional 179,500 shares during the period. 93.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Blue Bird

In other Blue Bird news, Director Phil Horlock sold 13,000 shares of the stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $59.02, for a total transaction of $767,260.00. Following the transaction, the director directly owned 240,766 shares of the company’s stock, valued at $14,210,009.32. This trade represents a 5.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Razvan Radulescu sold 6,709 shares of Blue Bird stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $57.41, for a total transaction of $385,163.69. Following the completion of the sale, the chief financial officer owned 40,794 shares in the company, valued at approximately $2,341,983.54. This trade represents a 14.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 40,838 shares of company stock valued at $2,381,286. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on BLBD. UBS Group reiterated a “buy” rating on shares of Blue Bird in a report on Monday, November 3rd. Wall Street Zen upgraded shares of Blue Bird from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 9th. BTIG Research lifted their price target on Blue Bird from $55.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Needham & Company LLC boosted their price objective on shares of Blue Bird from $53.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Finally, Zacks Research downgraded Blue Bird from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 7th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $63.42.

Blue Bird Stock Performance

BLBD opened at $51.90 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.58 and a quick ratio of 0.92. Blue Bird Corporation has a 1 year low of $30.04 and a 1 year high of $61.95. The firm has a fifty day moving average price of $55.27 and a 200 day moving average price of $48.54. The stock has a market cap of $1.65 billion, a P/E ratio of 14.83, a P/E/G ratio of 1.41 and a beta of 1.62.

About Blue Bird

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.