Insight Wealth Strategies LLC Makes New $2.18 Million Investment in Blue Bird Co. (NASDAQ:BLBD)

Insight Wealth Strategies LLC acquired a new stake in Blue Bird Co. (NASDAQ:BLBD - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 45,385 shares of the company's stock, valued at approximately $2,177,000. Insight Wealth Strategies LLC owned 0.14% of Blue Bird at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BLBD. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Blue Bird in the second quarter worth about $5,719,000. Quarry LP grew its stake in Blue Bird by 43.9% in the second quarter. Quarry LP now owns 1,174 shares of the company's stock worth $63,000 after purchasing an additional 358 shares in the last quarter. Creative Planning acquired a new position in Blue Bird in the second quarter worth about $282,000. Algert Global LLC grew its stake in Blue Bird by 360.0% in the second quarter. Algert Global LLC now owns 105,651 shares of the company's stock worth $5,689,000 after purchasing an additional 82,681 shares in the last quarter. Finally, Scientech Research LLC acquired a new position in Blue Bird in the second quarter worth about $976,000. 93.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Ted Scartz sold 2,985 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $48.60, for a total transaction of $145,071.00. Following the sale, the senior vice president now owns 51,863 shares of the company's stock, valued at $2,520,541.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Phil Horlock sold 32,159 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $14,669,801.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ted Scartz sold 2,985 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $48.60, for a total value of $145,071.00. Following the sale, the senior vice president now directly owns 51,863 shares in the company, valued at approximately $2,520,541.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,240 shares of company stock valued at $2,725,146. Insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. StockNews.com upgraded Blue Bird from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. Barclays lifted their target price on Blue Bird from $43.00 to $54.00 and gave the company an "overweight" rating in a research note on Friday, August 9th. Bank of America lifted their target price on Blue Bird from $60.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. Needham & Company LLC restated a "buy" rating and issued a $72.00 target price on shares of Blue Bird in a research note on Tuesday, September 10th. Finally, Roth Capital downgraded Blue Bird from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

Blue Bird Stock Performance

Shares of BLBD traded down $0.74 during mid-day trading on Tuesday, reaching $41.28. 723,357 shares of the company's stock traded hands, compared to its average volume of 575,173. The business's 50-day moving average price is $48.73 and its 200-day moving average price is $47.31. The stock has a market capitalization of $1.33 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 0.28 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.66 and a current ratio of 1.40. Blue Bird Co. has a 12 month low of $17.59 and a 12 month high of $59.40.

Blue Bird (NASDAQ:BLBD - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.42. The company had revenue of $333.37 million for the quarter, compared to analysts' expectations of $330.00 million. Blue Bird had a return on equity of 116.23% and a net margin of 7.65%. During the same quarter in the previous year, the company posted $0.42 earnings per share. Equities analysts predict that Blue Bird Co. will post 3.22 earnings per share for the current year.

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.