Tectonic Advisors LLC Buys 7,110 Shares of Blue Bird Corporation (NASDAQ:BLBD)

Tectonic Advisors LLC grew its stake in shares of Blue Bird Corporation (NASDAQ:BLBD - Free Report) by 36.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,357 shares of the company's stock after buying an additional 7,110 shares during the period. Tectonic Advisors LLC owned approximately 0.08% of Blue Bird worth $853,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its position in shares of Blue Bird by 26.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 43,954 shares of the company's stock worth $1,423,000 after purchasing an additional 9,130 shares during the period. CWM LLC raised its position in shares of Blue Bird by 9.3% during the first quarter. CWM LLC now owns 3,771 shares of the company's stock worth $122,000 after purchasing an additional 322 shares during the period. Alps Advisors Inc. raised its position in shares of Blue Bird by 45.1% during the first quarter. Alps Advisors Inc. now owns 10,300 shares of the company's stock worth $333,000 after purchasing an additional 3,200 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Blue Bird by 52.4% during the first quarter. Envestnet Asset Management Inc. now owns 90,456 shares of the company's stock worth $2,928,000 after purchasing an additional 31,091 shares during the period. Finally, Concurrent Investment Advisors LLC acquired a new stake in shares of Blue Bird during the first quarter worth about $276,000. Institutional investors own 93.59% of the company's stock.

Insiders Place Their Bets

In other news, Director Phil Horlock sold 13,289 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $41.70, for a total transaction of $554,151.30. Following the completion of the transaction, the director owned 270,766 shares of the company's stock, valued at approximately $11,290,942.20. The trade was a 4.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Razvan Radulescu sold 10,000 shares of the business's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $45.19, for a total value of $451,900.00. Following the transaction, the chief financial officer directly owned 58,203 shares of the company's stock, valued at $2,630,193.57. This trade represents a 14.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,149 shares of company stock valued at $1,369,666. Corporate insiders own 1.10% of the company's stock.

Blue Bird Stock Performance

BLBD traded down $0.11 during trading on Friday, hitting $42.75. The stock had a trading volume of 770,864 shares, compared to its average volume of 613,552. The company has a 50 day moving average price of $41.74 and a 200-day moving average price of $38.01. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 1.07 and a beta of 1.41. Blue Bird Corporation has a one year low of $30.04 and a one year high of $55.60. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.45 and a quick ratio of 0.73.

Blue Bird (NASDAQ:BLBD - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.01. The business had revenue of $358.85 million during the quarter, compared to the consensus estimate of $348.23 million. Blue Bird had a return on equity of 64.83% and a net margin of 7.97%. The firm's quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 EPS. As a group, research analysts predict that Blue Bird Corporation will post 3.86 EPS for the current year.

Analyst Upgrades and Downgrades

BLBD has been the topic of a number of recent research reports. Needham & Company LLC reissued a "buy" rating and issued a $49.00 target price on shares of Blue Bird in a research report on Tuesday, May 27th. DA Davidson dropped their target price on Blue Bird from $67.00 to $61.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. Wall Street Zen lowered Blue Bird from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Barclays lowered their price target on Blue Bird from $54.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $56.79.

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.