Three Seasons Wealth LLC Purchases New Shares in Blue Bird Corporation $BLBD

Key Points

• Three Seasons Wealth LLC acquired 11,722 shares of Blue Bird Corporation during the 2nd quarter, totaling approximately $506,000 in value.
• Analysts are optimistic about Blue Bird, with recent upgrades from firms like BTIG Research, raising the price target from $55.00 to $65.00 and giving it a "buy" rating.
• Blue Bird's recent earnings report revealed an EPS of $1.19, exceeding expectations, and a revenue of $398.01 million, which reflects a 19.4% increase year-over-year.

Three Seasons Wealth LLC acquired a new position in shares of Blue Bird Corporation (NASDAQ:BLBD - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,722 shares of the company's stock, valued at approximately $506,000.

Other hedge funds also recently made changes to their positions in the company. US Bancorp DE grew its holdings in shares of Blue Bird by 440.1% during the first quarter. US Bancorp DE now owns 1,442 shares of the company's stock worth $47,000 after purchasing an additional 1,175 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Blue Bird by 30.9% during the first quarter. NewEdge Advisors LLC now owns 2,885 shares of the company's stock worth $93,000 after buying an additional 681 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Blue Bird during the first quarter worth about $102,000. AlphaQuest LLC boosted its stake in shares of Blue Bird by 561.0% during the first quarter. AlphaQuest LLC now owns 3,173 shares of the company's stock worth $103,000 after buying an additional 2,693 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in shares of Blue Bird by 2,090.5% during the first quarter. Jones Financial Companies Lllp now owns 3,461 shares of the company's stock worth $112,000 after buying an additional 3,303 shares during the period. Hedge funds and other institutional investors own 93.59% of the company's stock.

Insider Activity at Blue Bird

In other Blue Bird news, Director Phil Horlock sold 13,000 shares of the company's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $59.02, for a total value of $767,260.00. Following the completion of the transaction, the director owned 240,766 shares in the company, valued at approximately $14,210,009.32. This represents a 5.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Razvan Radulescu sold 6,709 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $57.41, for a total transaction of $385,163.69. Following the completion of the transaction, the chief financial officer owned 40,794 shares of the company's stock, valued at $2,341,983.54. This trade represents a 14.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,392 shares of company stock valued at $7,794,083 in the last quarter. Insiders own 1.10% of the company's stock.

Blue Bird Stock Down 0.7%

Shares of Blue Bird stock traded down $0.44 during trading on Friday, reaching $59.71. The company had a trading volume of 595,983 shares, compared to its average volume of 510,215. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 1.75 and a beta of 1.62. The firm's fifty day moving average is $52.52 and its 200-day moving average is $42.97. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.92 and a current ratio of 1.58. Blue Bird Corporation has a fifty-two week low of $30.04 and a fifty-two week high of $60.89.

Blue Bird (NASDAQ:BLBD - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $377.64 million. During the same quarter in the prior year, the business posted $0.91 EPS. The company's revenue for the quarter was up 19.4% on a year-over-year basis. On average, analysts anticipate that Blue Bird Corporation will post 3.86 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BLBD shares. Needham & Company LLC raised their price objective on shares of Blue Bird from $49.00 to $53.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Zacks Research upgraded shares of Blue Bird from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 13th. BTIG Research raised their price objective on shares of Blue Bird from $55.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Wall Street Zen upgraded shares of Blue Bird from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $58.79.

Blue Bird Company 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.