Cambridge Investment Research Advisors Inc. Sells 19,436 Shares of Blue Bird Corporation (NASDAQ:BLBD)

Cambridge Investment Research Advisors Inc. trimmed its position in shares of Blue Bird Corporation (NASDAQ:BLBD - Free Report) by 40.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,150 shares of the company's stock after selling 19,436 shares during the period. Cambridge Investment Research Advisors Inc. owned approximately 0.09% of Blue Bird worth $911,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Dunhill Financial LLC boosted its holdings in Blue Bird by 100.0% during the fourth quarter. Dunhill Financial LLC now owns 1,000 shares of the company's stock valued at $39,000 after acquiring an additional 500 shares during the period. Quarry LP raised its position in shares of Blue Bird by 55.0% during the fourth quarter. Quarry LP now owns 1,262 shares of the company's stock valued at $49,000 after buying an additional 448 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Blue Bird by 44.1% during the fourth quarter. NewEdge Advisors LLC now owns 2,204 shares of the company's stock valued at $85,000 after buying an additional 674 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Blue Bird during the fourth quarter valued at about $87,000. Finally, New Vernon Capital Holdings II LLC acquired a new position in shares of Blue Bird during the fourth quarter valued at about $123,000. 93.59% of the stock is currently owned by institutional investors.

Blue Bird Stock Up 0.2%

Shares of NASDAQ:BLBD opened at $45.54 on Monday. The company has a fifty day moving average of $40.32 and a 200-day moving average of $37.66. The company has a market capitalization of $1.44 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 1.14 and a beta of 1.41. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.73 and a current ratio of 1.45. Blue Bird Corporation has a 52-week low of $30.04 and a 52-week high of $55.60.

Blue Bird (NASDAQ:BLBD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates 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%. Blue Bird's quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 earnings per share. On average, equities analysts predict that Blue Bird Corporation will post 3.86 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, Director Phil Horlock sold 13,289 shares of Blue Bird stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $41.70, for a total value of $554,151.30. Following the completion of the transaction, the director directly owned 270,766 shares in the company, 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. Corporate insiders own 1.10% of the company's stock.

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.

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