EntryPoint Capital LLC Makes New $291,000 Investment in Blue Bird Corporation $BLBD

Key Points

• EntryPoint Capital LLC acquired a new stake in Blue Bird Corporation, purchasing 8,995 shares valued at approximately $291,000 in the first quarter of the year.
• The stock price of Blue Bird Corporation increased by 1.2%, trading at $55.31, with a market capitalization of $1.75 billion and a twelve-month high of $60.45.
• Blue Bird reported better-than-expected earnings, with $1.19 EPS for the quarter, exceeding the consensus estimate of $0.90 and showing a 19.4% year-over-year revenue growth.

EntryPoint Capital LLC acquired a new position in shares of Blue Bird Corporation (NASDAQ:BLBD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,995 shares of the company's stock, valued at approximately $291,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC lifted its position in 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. Quarry LP raised its stake in Blue Bird by 55.0% during the fourth quarter. Quarry LP now owns 1,262 shares of the company's stock worth $49,000 after acquiring an additional 448 shares in the last quarter. Dunhill Financial LLC raised its stake in Blue Bird by 100.0% during the fourth quarter. Dunhill Financial LLC now owns 1,000 shares of the company's stock worth $39,000 after acquiring an additional 500 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Blue Bird by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,274 shares of the company's stock worth $706,000 after acquiring an additional 654 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in Blue Bird by 44.1% during the fourth quarter. NewEdge Advisors LLC now owns 2,204 shares of the company's stock worth $85,000 after acquiring an additional 674 shares in the last quarter. Institutional investors own 93.59% of the company's stock.

Insider Activity at Blue Bird

In related news, CFO Razvan Radulescu sold 700 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $60.02, for a total value of $42,014.00. Following the sale, the chief financial officer directly owned 47,503 shares in the company, valued at $2,851,130.06. This represents a 1.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Phil Horlock sold 21,129 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $58.16, for a total value of $1,228,862.64. Following the completion of the sale, the director owned 240,766 shares in the company, valued at $14,002,950.56. The trade was a 8.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 139,832 shares of company stock worth $7,559,425 over the last ninety days. Insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

BLBD has been the subject of several research analyst reports. Zacks Research raised Blue Bird from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. Barclays lowered their target price on Blue Bird from $54.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Needham & Company LLC boosted their target price on Blue Bird from $49.00 to $53.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, Wall Street Zen raised Blue Bird from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $57.36.

Blue Bird Trading Up 2.2%

Shares of Blue Bird stock traded up $1.22 on Wednesday, hitting $58.05. The stock had a trading volume of 282,037 shares, compared to its average volume of 569,453. The stock has a 50 day moving average of $47.36 and a 200 day moving average of $40.11. Blue Bird Corporation has a twelve month low of $30.04 and a twelve month high of $60.45. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.92 and a current ratio of 1.58. The firm has a market capitalization of $1.84 billion, a P/E ratio of 16.57, a PEG ratio of 1.65 and a beta of 1.50.

Blue Bird (NASDAQ:BLBD - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.29. Blue Bird had a return on equity of 61.66% and a net margin of 8.16%.The company had revenue of $398.01 million during the quarter, compared to the consensus estimate of $377.64 million. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The firm's revenue was up 19.4% compared to the same quarter last year. Sell-side analysts expect that Blue Bird Corporation will post 3.86 earnings per share for the current fiscal year.

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.