Westwood Holdings Group Inc. Cuts Holdings in Blue Bird Corporation $BLBD

Westwood Holdings Group Inc. reduced its stake in shares of Blue Bird Corporation (NASDAQ:BLBD) by 7.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,234,878 shares of the company’s stock after selling 167,336 shares during the period. Blue Bird makes up 0.8% of Westwood Holdings Group Inc.’s investment portfolio, making the stock its 29th biggest position. Westwood Holdings Group Inc. owned about 0.07% of Blue Bird worth $96,457,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new stake in Blue Bird during the second quarter worth about $29,000. Nisa Investment Advisors LLC grew its position in Blue Bird by 159.9% during the second quarter. Nisa Investment Advisors LLC now owns 993 shares of the company’s stock valued at $43,000 after acquiring an additional 611 shares during the last quarter. US Bancorp DE raised its stake in shares of Blue Bird by 440.1% during the first quarter. US Bancorp DE now owns 1,442 shares of the company’s stock worth $47,000 after acquiring an additional 1,175 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Blue Bird by 30.9% during the 1st quarter. NewEdge Advisors LLC now owns 2,885 shares of the company’s stock valued at $93,000 after purchasing an additional 681 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in Blue Bird in the 1st quarter worth $102,000. Institutional investors own 93.59% of the company’s stock.

Blue Bird Stock Performance

NASDAQ:BLBD opened at $51.17 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.58 and a debt-to-equity ratio of 0.39. The firm’s fifty day simple moving average is $55.11 and its 200 day simple moving average is $48.65. The stock has a market cap of $1.62 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 1.42 and a beta of 1.62. Blue Bird Corporation has a twelve month low of $30.04 and a twelve month high of $61.95.

Wall Street Analyst Weigh In

BLBD has been the subject of several analyst reports. UBS Group restated a “buy” rating on shares of Blue Bird in a research report on Monday, November 3rd. Wall Street Zen upgraded 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 stock a “buy” rating in a research note on Tuesday, September 16th. Needham & Company LLC increased their price objective on Blue Bird from $53.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Finally, Zacks Research cut shares of Blue Bird from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 7th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.42.

Insider Activity

In other news, CFO Razvan Radulescu sold 6,709 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $57.41, for a total value of $385,163.69. Following the completion of the transaction, the chief financial officer owned 40,794 shares in the company, valued at $2,341,983.54. This trade represents a 14.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Phil Horlock sold 13,000 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $59.02, for a total value of $767,260.00. Following the completion of the sale, the director directly owned 240,766 shares in the company, valued at approximately $14,210,009.32. The trade was a 5.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 40,838 shares of company stock valued at $2,381,286 over the last 90 days. 1.10% of the stock is currently owned by company insiders.

Blue Bird Company 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.