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Koss Olinger Consulting LLC Buys New Shares in Blue Bird Corporation (NASDAQ:BLBD)

Blue Bird logo with Auto/Tires/Trucks background

Key Points

  • Koss Olinger Consulting LLC recently acquired 15,732 shares of Blue Bird Corporation for approximately $509,000, marking a significant investment in the company.
  • Several institutional investors have increased their stakes in Blue Bird, with FMR LLC raising its holdings by 162.8% in the previous quarter, significantly boosting its position.
  • Analysts have mixed views on Blue Bird, with recent ratings showing two "hold", six "buy", and one "strong buy" ratings, alongside varied price target adjustments ranging from $50.00 to $67.00.
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Koss Olinger Consulting LLC bought a new stake in Blue Bird Corporation (NASDAQ:BLBD - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 15,732 shares of the company's stock, valued at approximately $509,000.

A number of other institutional investors have also recently bought and sold shares of BLBD. FMR LLC grew its holdings in Blue Bird by 162.8% in the fourth quarter. FMR LLC now owns 4,840,198 shares of the company's stock valued at $186,977,000 after purchasing an additional 2,998,453 shares during the period. First Trust Advisors LP grew its holdings in Blue Bird by 355.3% in the fourth quarter. First Trust Advisors LP now owns 883,404 shares of the company's stock valued at $34,126,000 after purchasing an additional 689,394 shares during the period. Millennium Management LLC grew its holdings in Blue Bird by 236.7% in the fourth quarter. Millennium Management LLC now owns 774,175 shares of the company's stock valued at $29,906,000 after purchasing an additional 544,248 shares during the period. Westwood Holdings Group Inc. grew its holdings in Blue Bird by 24.3% in the first quarter. Westwood Holdings Group Inc. now owns 2,402,214 shares of the company's stock valued at $77,760,000 after purchasing an additional 468,936 shares during the period. Finally, Intrinsic Edge Capital Management LLC grew its holdings in Blue Bird by 540.2% in the fourth quarter. Intrinsic Edge Capital Management LLC now owns 540,435 shares of the company's stock valued at $20,877,000 after purchasing an additional 456,015 shares during the period. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BLBD. Barclays reduced their price target on shares of Blue Bird from $54.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Needham & Company LLC lifted their price target on shares of Blue Bird from $49.00 to $53.00 and gave the company a "buy" rating in a research report on Thursday. Wall Street Zen raised shares of Blue Bird from a "hold" rating to a "strong-buy" rating in a research report on Saturday. Finally, DA Davidson reduced their price target on shares of Blue Bird from $67.00 to $61.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $57.36.

Get Our Latest Stock Report on BLBD

Blue Bird Trading Up 5.8%

NASDAQ BLBD opened at $55.34 on Friday. The company's fifty day simple moving average is $43.56 and its 200-day simple moving average is $38.50. Blue Bird Corporation has a 52 week low of $30.04 and a 52 week high of $60.45. The company has a current ratio of 1.58, a quick ratio of 0.73 and a debt-to-equity ratio of 0.39. The stock has a market cap of $1.75 billion, a P/E ratio of 15.81, a PEG ratio of 1.40 and a beta of 1.50.

Blue Bird (NASDAQ:BLBD - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.29. Blue Bird had a net margin of 8.16% and a return on equity of 61.66%. The business had revenue of $398.01 million for the quarter, compared to analysts' expectations of $377.64 million. During the same period in the previous year, the company posted $0.91 earnings per share. The business's revenue for the quarter was up 19.4% compared to the same quarter last year. Equities research analysts predict that Blue Bird Corporation will post 3.86 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Phil Horlock sold 13,289 shares of the company's stock in a transaction 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 sale, the director directly owned 270,766 shares of the company's stock, valued at $11,290,942.20. This represents a 4.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Razvan Radulescu sold 10,000 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $53.21, for a total transaction of $532,100.00. Following the completion of the sale, the chief financial officer directly owned 48,203 shares in the company, valued at $2,564,881.63. This represents a 17.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,149 shares of company stock worth $1,901,766. Corporate insiders own 1.10% of the company's stock.

Blue Bird Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Blue Bird (NASDAQ:BLBD)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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