Three Seasons Wealth LLC Takes $506,000 Position 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 purchased a new position in Blue Bird Corporation (NASDAQ:BLBD - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 11,722 shares of the company's stock, valued at approximately $506,000.

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

Insider Activity

In other Blue Bird news, Director Phil Horlock sold 30,000 shares of Blue Bird stock in a transaction on Friday, August 8th. The stock was sold at an average price of $60.00, for a total transaction of $1,800,000.00. Following the sale, the director owned 240,766 shares of the company's stock, valued at $14,445,960. The trade was a 11.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Razvan Radulescu sold 10,000 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $53.21, for a total value 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,392 shares of company stock valued at $7,794,083. 1.10% of the stock is currently owned by company insiders.

Blue Bird Price Performance

Shares of BLBD traded down $0.34 during trading hours on Tuesday, reaching $60.52. 107,347 shares of the company traded hands, compared to its average volume of 562,052. The stock has a fifty day simple moving average of $52.87 and a 200 day simple moving average of $43.23. Blue Bird Corporation has a fifty-two week low of $30.04 and a fifty-two week high of $61.95. The stock has a market capitalization of $1.92 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 1.75 and a beta of 1.61. The company has a quick ratio of 0.92, a current ratio of 1.58 and a debt-to-equity ratio of 0.39.

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

Wall Street Analysts Forecast Growth

BLBD has been the subject of several recent analyst reports. Needham & Company LLC lifted their price objective on shares of Blue Bird from $49.00 to $53.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Zacks Research raised shares of Blue Bird from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. Wall Street Zen upgraded Blue Bird from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, BTIG Research lifted their price objective on Blue Bird from $55.00 to $65.00 and gave the company a "buy" rating in a report on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $58.79.

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.