CenterBook Partners LP Makes New Investment in Blue Bird Corporation $BLBD

Key Points

• CenterBook Partners initiated a position in Blue Bird, buying 19,610 shares worth about $1.09 million, or 0.06% of the company.
• Institutional ownership remains high at 93.59%; several investors increased their holdings, while Blue Bird’s COO sold 4,000 shares and retained 35,011.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $85.33. Shares opened at $60.32 in the report.

CenterBook Partners LP purchased a new position in Blue Bird Corporation (NASDAQ:BLBD - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 19,610 shares of the company's stock, valued at approximately $1,088,000. CenterBook Partners LP owned 0.06% of Blue Bird as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BLBD. Kestra Advisory Services LLC lifted its position in shares of Blue Bird by 130.9% during the 3rd quarter. Kestra Advisory Services LLC now owns 7,178 shares of the company's stock worth $398,000 after buying an additional 4,069 shares during the period. BOKF NA lifted its holdings in Blue Bird by 22.6% in the third quarter. BOKF NA now owns 14,534 shares of the company's stock valued at $807,000 after buying an additional 2,680 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of Blue Bird by 14.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 78,200 shares of the company's stock valued at $4,340,000 after acquiring an additional 9,618 shares during the last quarter. Park Avenue Securities LLC boosted its stake in Blue Bird by 19.5% during the 3rd quarter. Park Avenue Securities LLC now owns 4,301 shares of the company's stock worth $239,000 after acquiring an additional 701 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of Blue Bird by 22.3% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 739,478 shares of the company's stock worth $41,041,000 after purchasing an additional 134,881 shares in the last quarter. 93.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Jeffrey Sanfrey sold 4,000 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $62.40, for a total value of $249,600.00. Following the completion of the transaction, the chief operating officer directly owned 35,011 shares in the company, valued at approximately $2,184,686.40. This represents a 10.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BLBD shares. Freedom Capital raised shares of Blue Bird from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. Needham & Company LLC reiterated a "buy" rating and set a $86.00 price objective on shares of Blue Bird in a research note on Thursday, August 6th. DA Davidson upped their target price on shares of Blue Bird from $86.00 to $91.00 and gave the company a "buy" rating in a report on Thursday, August 6th. BTIG Research upped their price objective on Blue Bird from $80.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Zacks Research downgraded shares of Blue Bird from a "hold" rating to a "strong sell" rating in a report on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $85.33.

Blue Bird Trading Up 3.8%

Shares of BLBD opened at $60.32 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.67 and a current ratio of 1.64. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 0.89 and a beta of 1.46. Blue Bird Corporation has a 52-week low of $46.14 and a 52-week high of $83.39. The business's fifty day moving average is $58.52 and its 200-day moving average is $63.34.

About Blue Bird

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