Blue Bird Co. (NASDAQ:BLBD) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its position in Blue Bird Co. (NASDAQ:BLBD - Free Report) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,174,874 shares of the company's stock after selling 25,133 shares during the period. Wellington Management Group LLP owned about 3.63% of Blue Bird worth $56,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of BLBD. Macroview Investment Management LLC purchased a new position in Blue Bird in the 2nd quarter worth approximately $29,000. Truvestments Capital LLC bought a new stake in Blue Bird in the 3rd quarter worth approximately $35,000. Private Trust Co. NA bought a new stake in Blue Bird in the third quarter worth about $38,000. nVerses Capital LLC purchased a new position in shares of Blue Bird during the third quarter valued at approximately $53,000. Finally, Millburn Ridgefield Corp bought a new position in shares of Blue Bird during the third quarter valued at approximately $56,000. 93.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BLBD has been the subject of a number of recent analyst reports. Roth Mkm cut 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. Needham & Company LLC reissued a "buy" rating and set a $66.00 target price on shares of Blue Bird in a research note on Tuesday, November 26th. Roth Capital cut shares of Blue Bird from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 3rd. Bank of America decreased their price objective on shares of Blue Bird from $66.00 to $63.50 and set a "buy" rating for the company in a report on Tuesday, November 26th. Finally, Craig Hallum upped their target price on shares of Blue Bird from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $60.64.

Blue Bird Trading Up 1.4 %

BLBD stock traded up $0.57 during midday trading on Thursday, hitting $41.92. 335,237 shares of the company's stock were exchanged, compared to its average volume of 624,288. Blue Bird Co. has a 1-year low of $23.76 and a 1-year high of $59.40. The company has a current ratio of 1.37, a quick ratio of 0.83 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $1.35 billion, a PE ratio of 13.00, a P/E/G ratio of 1.01 and a beta of 1.59. The business has a 50-day simple moving average of $41.79 and a two-hundred day simple moving average of $47.79.

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.