Wellington Management Group LLP Acquires 160,248 Shares of Blue Bird Co. (NASDAQ:BLBD)

Wellington Management Group LLP increased its position in shares of Blue Bird Co. (NASDAQ:BLBD - Free Report) by 13.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,335,122 shares of the company's stock after buying an additional 160,248 shares during the period. Wellington Management Group LLP owned 4.16% of Blue Bird worth $51,576,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. National Bank of Canada FI bought a new position in Blue Bird during the third quarter worth $26,000. KBC Group NV boosted its position in 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 purchasing an additional 610 shares during the period. New Age Alpha Advisors LLC bought a new position in Blue Bird during the fourth quarter worth $87,000. Nomura Asset Management Co. Ltd. bought a new stake in shares of Blue Bird in the fourth quarter valued at about $132,000. Finally, GPS Wealth Strategies Group LLC boosted its position in shares of Blue Bird by 15.7% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 4,729 shares of the company's stock valued at $183,000 after acquiring an additional 640 shares during the period. 93.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Razvan Radulescu sold 2,848 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $38.12, for a total transaction of $108,565.76. Following the completion of the sale, the chief financial officer now directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.10% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Blue Bird from a "hold" rating to a "buy" rating in a research report on Thursday, April 3rd. Needham & Company LLC reduced their target price on shares of Blue Bird from $66.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $58.21.

Blue Bird Stock Down 3.3 %

Shares of BLBD traded down $1.14 during trading hours on Thursday, reaching $32.78. The stock had a trading volume of 44,777 shares, compared to its average volume of 662,895. Blue Bird Co. has a 12 month low of $30.04 and a 12 month high of $59.40. The firm has a 50-day simple moving average of $34.53 and a 200 day simple moving average of $39.23. 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 company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 0.84 and a beta of 1.38.

Blue Bird (NASDAQ:BLBD - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.86 EPS for the quarter, beating 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%. Equities research analysts predict that Blue Bird Co. will post 3.86 earnings per share for the current fiscal year.

Blue Bird Company 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.