Geode Capital Management LLC Acquires 156,298 Shares of Blue Bird Co. (NASDAQ:BLBD)

Geode Capital Management LLC increased its holdings in shares of Blue Bird Co. (NASDAQ:BLBD) by 26.2% during the third quarter, HoldingsChannel reports. The firm owned 752,228 shares of the company’s stock after buying an additional 156,298 shares during the period. Geode Capital Management LLC’s holdings in Blue Bird were worth $36,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. National Bank of Canada FI purchased a new stake in Blue Bird in the third quarter worth approximately $26,000. Truvestments Capital LLC bought a new position in shares of Blue Bird during the 3rd quarter valued at $35,000. Private Trust Co. NA purchased a new position in shares of Blue Bird in the 3rd quarter worth $38,000. nVerses Capital LLC bought a new stake in shares of Blue Bird in the third quarter worth $53,000. Finally, Millburn Ridgefield Corp purchased a new stake in Blue Bird during the third quarter valued at $56,000. 93.59% of the stock is owned by institutional investors.

Insider Transactions at Blue Bird

In related news, CFO Razvan Radulescu sold 19,171 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $42.89, for a total value of $822,244.19. Following the completion of the transaction, the chief financial officer now directly owns 89,347 shares of the company’s stock, valued at approximately $3,832,092.83. This trade represents a 17.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.10% of the company’s stock.

Blue Bird Stock Performance

Shares of NASDAQ BLBD opened at $38.85 on Thursday. The company has a market cap of $1.25 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.05 and a beta of 1.59. Blue Bird Co. has a 52-week low of $24.08 and a 52-week high of $59.40. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.83 and a current ratio of 1.37. The firm’s fifty day moving average is $41.51 and its two-hundred day moving average is $46.82.

Analysts Set New Price Targets

A number of research firms have issued reports on BLBD. StockNews.com upgraded Blue Bird from a “hold” rating to a “buy” rating in a research note on Tuesday. Bank of America dropped their price target on shares of Blue Bird from $66.00 to $63.50 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. BTIG Research started coverage on Blue Bird in a research report on Wednesday, October 9th. They set a “buy” rating and a $55.00 target price on the stock. Roth Capital downgraded Blue Bird from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Finally, Craig Hallum lifted their price objective on Blue Bird from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Blue Bird currently has an average rating of “Moderate Buy” and a consensus price target of $60.64.

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.