Hennessy Advisors Inc. Increases Holdings in Blue Bird Co. (NASDAQ:BLBD)

Hennessy Advisors Inc. grew its position in shares of Blue Bird Co. (NASDAQ:BLBD) by 6.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 263,400 shares of the company’s stock after acquiring an additional 16,900 shares during the period. Hennessy Advisors Inc. owned about 0.82% of Blue Bird worth $10,175,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BLBD. National Bank of Canada FI purchased a new position in shares of Blue Bird during the 3rd quarter worth approximately $26,000. Truvestments Capital LLC bought a new stake in shares of Blue Bird in the 3rd quarter worth approximately $35,000. Private Trust Co. NA bought a new stake in shares of Blue Bird in the 3rd quarter worth approximately $38,000. nVerses Capital LLC bought a new stake in shares of Blue Bird in the 3rd quarter worth approximately $53,000. Finally, Millburn Ridgefield Corp bought a new stake in shares of Blue Bird in the 3rd quarter worth approximately $56,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Blue Bird Stock Up 0.2 %

BLBD opened at $42.35 on Friday. The firm has a 50-day simple moving average of $40.59 and a two-hundred day simple moving average of $45.17. Blue Bird Co. has a 52 week low of $24.15 and a 52 week high of $59.40. The company has a market capitalization of $1.36 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 1.05 and a beta of 1.58. The company has a quick ratio of 0.83, a current ratio of 1.37 and a debt-to-equity ratio of 0.56.

Insider Buying and Selling at Blue Bird

In related news, CFO Razvan Radulescu sold 19,171 shares of the stock in a transaction dated 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on BLBD shares. Roth Capital cut Blue Bird from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Bank of America lowered their price objective on Blue Bird from $66.00 to $63.50 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Roth Mkm cut Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a research report on Thursday, October 3rd. BTIG Research started coverage on shares of Blue Bird in a research note on Wednesday, October 9th. They set a “buy” rating and a $55.00 target price for the company. Finally, StockNews.com upgraded Blue Bird from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.