Brandywine Global Investment Management LLC Takes Position in Blue Bird Co. (NASDAQ:BLBD)

Brandywine Global Investment Management LLC bought a new stake in shares of Blue Bird Co. (NASDAQ:BLBD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 98,798 shares of the company's stock, valued at approximately $3,817,000. Brandywine Global Investment Management LLC owned approximately 0.31% of Blue Bird at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. National Bank of Canada FI acquired a new stake in Blue Bird during the 3rd quarter valued at approximately $26,000. KBC Group NV grew its position in shares of Blue Bird by 75.3% during the fourth quarter. KBC Group NV now owns 1,420 shares of the company's stock worth $55,000 after buying an additional 610 shares in the last quarter. Millburn Ridgefield Corp acquired a new stake in shares of Blue Bird during the third quarter worth approximately $56,000. New Age Alpha Advisors LLC bought a new stake in shares of Blue Bird in the fourth quarter worth $87,000. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in Blue Bird in the fourth quarter valued at $132,000. 93.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Razvan Radulescu sold 2,848 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $38.12, for a total value of $108,565.76. Following the sale, the chief financial officer now owns 88,664 shares of the company's stock, valued at $3,379,871.68. This trade represents a 3.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company's stock.

Remove Ads

Blue Bird Stock Performance

BLBD traded up $0.51 on Friday, hitting $32.43. 594,696 shares of the company's stock were exchanged, compared to its average volume of 662,714. The company has a current ratio of 1.44, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49. The stock has a fifty day moving average of $34.99 and a two-hundred day moving average of $39.78. Blue Bird Co. has a twelve month low of $30.04 and a twelve month high of $59.40. The firm has a market cap of $1.04 billion, a PE ratio of 10.04, a P/E/G ratio of 0.84 and a beta of 1.38.

Blue Bird (NASDAQ:BLBD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.03. Blue Bird had a return on equity of 75.22% and a net margin of 8.05%. On average, research analysts anticipate that Blue Bird Co. will post 3.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BLBD shares. Needham & Company LLC decreased their price objective on shares of Blue Bird from $66.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, February 6th. StockNews.com upgraded Blue Bird from a "hold" rating to a "buy" rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Blue Bird has a consensus rating of "Moderate Buy" and an average target price of $58.21.

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.