Blue Bird Corporation $BLBD Shares Sold by Prospect Capital Advisors LLC

Prospect Capital Advisors LLC cut its stake in shares of Blue Bird Corporation (NASDAQ:BLBD) by 13.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 96,640 shares of the company’s stock after selling 15,290 shares during the quarter. Blue Bird comprises 3.0% of Prospect Capital Advisors LLC’s holdings, making the stock its 14th biggest position. Prospect Capital Advisors LLC’s holdings in Blue Bird were worth $5,488,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Blue Bird by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,094 shares of the company’s stock worth $618,000 after purchasing an additional 820 shares during the period. NewEdge Advisors LLC boosted its position in shares of Blue Bird by 30.9% in the 1st quarter. NewEdge Advisors LLC now owns 2,885 shares of the company’s stock valued at $93,000 after purchasing an additional 681 shares during the period. Jones Financial Companies Lllp increased its stake in Blue Bird by 2,090.5% in the 1st quarter. Jones Financial Companies Lllp now owns 3,461 shares of the company’s stock worth $112,000 after purchasing an additional 3,303 shares in the last quarter. New York State Common Retirement Fund increased its stake in Blue Bird by 12.5% in the 2nd quarter. New York State Common Retirement Fund now owns 12,676 shares of the company’s stock worth $547,000 after purchasing an additional 1,412 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Blue Bird during the 2nd quarter worth about $3,799,000. 93.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BLBD has been the subject of a number of analyst reports. DA Davidson set a $86.00 price objective on shares of Blue Bird in a research note on Tuesday, June 9th. Needham & Company LLC lifted their target price on shares of Blue Bird from $78.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Roth Capital began coverage on shares of Blue Bird in a report on Thursday, June 25th. They set a “buy” rating and a $94.00 price target on the stock. Barclays upped their price target on shares of Blue Bird from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Finally, BTIG Research raised their price objective on shares of Blue Bird from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $82.17.

Blue Bird Stock Down 0.3%

NASDAQ:BLBD opened at $74.39 on Friday. The business’s fifty day moving average price is $74.73 and its 200 day moving average price is $64.12. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.01 and a beta of 1.35. The company has a current ratio of 1.83, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. Blue Bird Corporation has a 1-year low of $42.95 and a 1-year high of $83.39.

Blue Bird (NASDAQ:BLBD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.12. Blue Bird had a return on equity of 53.68% and a net margin of 8.91%.The firm had revenue of $352.63 million during the quarter, compared to analyst estimates of $335.23 million. During the same period last year, the company posted $0.96 EPS. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts forecast that Blue Bird Corporation will post 4.5 earnings per share for the current fiscal year.

Blue Bird Profile

Blue Bird Corporation (NASDAQ: BLBD) is a leading manufacturer of buses and mass transportation vehicles headquartered in Fort Valley, Georgia. The company’s core business encompasses the design, engineering, and production of school buses and activity buses, with a product lineup that includes conventional (Type C) models, transit-style (Type D) models and specialty configurations for special-needs and activity transport. In recent years, Blue Bird has expanded its offerings to include zero-emission electric school buses, reflecting its commitment to advanced propulsion technologies and environmental sustainability.

Established in 1927, Blue Bird has built a legacy of safety and reliability in student transportation.