BlackRock Inc. raised its position in shares of Blue Bird Corp (NASDAQ:BLBD) by 8.5% during the 4th quarter, HoldingsChannel reports. The firm owned 999,398 shares of the company’s stock after purchasing an additional 78,023 shares during the period. BlackRock Inc.’s holdings in Blue Bird were worth $18,179,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Blue Bird during the fourth quarter valued at approximately $26,000. Lincoln Capital Corp purchased a new position in Blue Bird during the fourth quarter valued at approximately $217,000. MetLife Investment Advisors LLC lifted its holdings in Blue Bird by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 8,926 shares of the company’s stock valued at $219,000 after purchasing an additional 3,175 shares in the last quarter. Alliancebernstein L.P. bought a new stake in shares of Blue Bird during the third quarter valued at approximately $233,000. Finally, Citadel Advisors LLC bought a new stake in shares of Blue Bird during the third quarter valued at approximately $338,000. 96.06% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Blue Bird from a “strong sell” rating to a “sell” rating in a research report on Thursday, December 27th. ValuEngine cut shares of Blue Bird from a “hold” rating to a “sell” rating in a research report on Friday, March 15th.
Blue Bird stock opened at $17.59 on Tuesday. The company has a market cap of $466.58 million, a PE ratio of 10.35 and a beta of 1.21. Blue Bird Corp has a 1 year low of $15.67 and a 1 year high of $26.95.
Blue Bird (NASDAQ:BLBD) last released its quarterly earnings data on Wednesday, February 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.07. The firm had revenue of $154.93 million for the quarter, compared to analysts’ expectations of $157.20 million. Blue Bird had a net margin of 3.68% and a negative return on equity of 70.66%. On average, sell-side analysts expect that Blue Bird Corp will post 1.58 EPS for the current year.
Blue Bird Company Profile
Blue Bird Corporation designs, engineers, manufactures, and sells school buses and related parts in the United States, Canada, and internationally. It operates through two segments, Bus and Parts. The company offers Type C, Type D, and specialty buses; and alternative fuel applications through its propane-powered, gasoline-powered, compressed natural gas-powered, and electric powered school buses.
Further Reading: Hedge Funds Explained
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