Wakefield Asset Management LLLP Sells 10,833 Shares of Blue Bird Co. (NASDAQ:BLBD)

Wakefield Asset Management LLLP decreased its holdings in shares of Blue Bird Co. (NASDAQ:BLBD) by 36.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,512 shares of the company’s stock after selling 10,833 shares during the quarter. Wakefield Asset Management LLLP owned 0.06% of Blue Bird worth $997,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of BLBD. Westwood Holdings Group Inc. purchased a new position in Blue Bird in the 1st quarter worth approximately $83,817,000. Vanguard Group Inc. grew its position in Blue Bird by 36.0% in the first quarter. Vanguard Group Inc. now owns 1,911,645 shares of the company’s stock worth $73,292,000 after acquiring an additional 505,727 shares in the last quarter. Boston Partners increased its stake in Blue Bird by 279.5% in the first quarter. Boston Partners now owns 415,310 shares of the company’s stock valued at $15,587,000 after acquiring an additional 305,868 shares during the last quarter. Brightline Capital Management LLC purchased a new stake in Blue Bird during the fourth quarter valued at about $7,279,000. Finally, Hennessy Advisors Inc. bought a new stake in Blue Bird during the second quarter worth about $11,788,000. 93.59% of the stock is currently owned by institutional investors.

Blue Bird Trading Down 5.0 %

NASDAQ:BLBD opened at $46.32 on Friday. The company has a fifty day moving average of $49.14 and a 200 day moving average of $44.79. The firm has a market capitalization of $1.50 billion, a P/E ratio of 18.75, a P/E/G ratio of 0.27 and a beta of 1.63. Blue Bird Co. has a 52 week low of $17.59 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.

Blue Bird (NASDAQ:BLBD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.42. Blue Bird had a net margin of 7.65% and a return on equity of 116.23%. The business had revenue of $333.37 million during the quarter, compared to analyst estimates of $330.00 million. During the same period last year, the firm posted $0.42 EPS. On average, research analysts predict that Blue Bird Co. will post 3.22 earnings per share for the current year.

Insider Buying and Selling at Blue Bird

In other Blue Bird news, President Britton Smith sold 2,508 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $48.00, for a total transaction of $120,384.00. Following the completion of the transaction, the president now owns 83,125 shares of the company’s stock, valued at approximately $3,990,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Phil Horlock sold 32,159 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $48.93, for a total value of $1,573,539.87. Following the sale, the chief executive officer now owns 299,812 shares in the company, valued at $14,669,801.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Britton Smith sold 2,508 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $48.00, for a total transaction of $120,384.00. Following the transaction, the president now owns 83,125 shares of the company’s stock, valued at approximately $3,990,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,732 shares of company stock worth $2,835,622. Insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BLBD shares. Bank of America increased their price objective on Blue Bird from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. StockNews.com downgraded shares of Blue Bird from a “buy” rating to a “hold” rating in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 price objective (up previously from $52.00) on shares of Blue Bird in a research note on Wednesday, July 17th. Craig Hallum increased their target price on shares of Blue Bird from $54.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 24th. Finally, Barclays boosted their price target on shares of Blue Bird from $43.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

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.