Blue Bird Co. (NASDAQ:BLBD) Shares Purchased by Brightline Capital Management LLC

Brightline Capital Management LLC boosted its stake in Blue Bird Co. (NASDAQ:BLBD) by 0.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 151,000 shares of the company’s stock after purchasing an additional 1,000 shares during the period. Blue Bird comprises approximately 3.1% of Brightline Capital Management LLC’s portfolio, making the stock its 16th largest position. Brightline Capital Management LLC owned 0.47% of Blue Bird worth $7,242,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP grew its position in Blue Bird by 43.9% in the 2nd quarter. Quarry LP now owns 1,174 shares of the company’s stock valued at $63,000 after acquiring an additional 358 shares in the last quarter. Savant Capital LLC grew its holdings in shares of Blue Bird by 3.4% in the second quarter. Savant Capital LLC now owns 11,473 shares of the company’s stock valued at $618,000 after purchasing an additional 382 shares in the last quarter. Macroview Investment Management LLC purchased a new stake in Blue Bird during the 2nd quarter worth approximately $29,000. GPS Wealth Strategies Group LLC lifted its holdings in Blue Bird by 22.5% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,325 shares of the company’s stock worth $179,000 after buying an additional 610 shares in the last quarter. Finally, Townsquare Capital LLC boosted its position in Blue Bird by 9.3% in the 3rd quarter. Townsquare Capital LLC now owns 8,235 shares of the company’s stock valued at $395,000 after buying an additional 700 shares during the period. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. BTIG Research began coverage on Blue Bird in a research report on Wednesday, October 9th. They set a “buy” rating and a $55.00 price objective on the stock. Barclays upped their price target on Blue Bird from $43.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Roth Mkm cut Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price objective for the company. in a research note on Thursday, October 3rd. Bank of America cut their target price on shares of Blue Bird from $66.00 to $63.50 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $66.00 price target on shares of Blue Bird in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.64.

Blue Bird Stock Up 0.6 %

BLBD stock traded up $0.26 during midday trading on Wednesday, reaching $40.95. 42,800 shares of the company were exchanged, compared to its average volume of 619,734. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 0.21 and a beta of 1.62. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.66 and a current ratio of 1.40. Blue Bird Co. has a 1-year low of $17.79 and a 1-year high of $59.40. The stock’s 50-day simple moving average is $43.97 and its 200 day simple moving average is $48.70.

Insider Buying and Selling

In other Blue Bird news, President Britton Smith sold 2,508 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.81, for a total transaction of $124,923.48. Following the transaction, the president now owns 80,617 shares of the company’s stock, valued at approximately $4,015,532.77. This trade represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is owned by company insiders.

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.