Algert Global LLC Increases Position in Blue Bird Co. (NASDAQ:BLBD)

Algert Global LLC grew its position in Blue Bird Co. (NASDAQ:BLBD - Free Report) by 24.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 131,510 shares of the company's stock after acquiring an additional 25,859 shares during the quarter. Algert Global LLC owned 0.41% of Blue Bird worth $6,307,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Blue Bird by 36.0% during the 1st quarter. Vanguard Group Inc. now owns 1,911,645 shares of the company's stock worth $73,292,000 after buying an additional 505,727 shares in the last quarter. Covestor Ltd acquired a new position in shares of Blue Bird during the 1st quarter worth approximately $29,000. American International Group Inc. grew its position in shares of Blue Bird by 9.5% in the 1st quarter. American International Group Inc. now owns 13,782 shares of the company's stock valued at $528,000 after acquiring an additional 1,191 shares during the period. Lazard Asset Management LLC bought a new stake in Blue Bird in the first quarter valued at approximately $145,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Blue Bird during the 1st quarter valued at $4,000,000. Institutional investors and hedge funds own 93.59% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. StockNews.com upgraded Blue Bird from a "hold" rating to a "buy" rating in a research report on Friday, November 8th. Bank of America upped their target price on shares of Blue Bird from $60.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, August 8th. Barclays lifted their price objective on shares of Blue Bird from $43.00 to $54.00 and gave the stock an "overweight" rating in a report on Friday, August 9th. DA Davidson upped their target price on Blue Bird from $66.00 to $67.00 and gave the company a "buy" rating in a report on Friday, August 9th. Finally, Roth Mkm downgraded shares of Blue Bird from a "buy" rating to a "neutral" rating and set a $48.00 price objective for the company. in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $60.14.

Insider Buying and Selling

In other news, CEO Phil Horlock sold 32,159 shares of the business's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $48.93, for a total transaction of $1,573,539.87. Following the sale, the chief executive officer now owns 299,812 shares in the company, valued at approximately $14,669,801.16. The trade was a 9.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Britton Smith sold 2,508 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.81, for a total transaction of $124,923.48. Following the sale, the president now directly owns 80,617 shares in the company, valued at approximately $4,015,532.77. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Blue Bird Trading Up 2.7 %

BLBD traded up $1.10 during trading hours on Friday, reaching $41.18. 662,053 shares of the company's stock traded hands, compared to its average volume of 905,453. The firm has a market capitalization of $1.33 billion, a PE ratio of 13.59, a PEG ratio of 0.19 and a beta of 1.62. Blue Bird Co. has a 52-week low of $17.79 and a 52-week high of $59.40. The company has a quick ratio of 0.66, a current ratio of 1.40 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $44.31 and a 200 day moving average price of $48.70.

Blue Bird 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.