Blue Bird Co. (NASDAQ:BLBD) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in shares of Blue Bird Co. (NASDAQ:BLBD) by 95.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,216 shares of the company’s stock after purchasing an additional 25,563 shares during the quarter. Victory Capital Management Inc. owned approximately 0.16% of Blue Bird worth $2,504,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC raised its holdings in Blue Bird by 15.8% during the third quarter. Los Angeles Capital Management LLC now owns 11,231 shares of the company’s stock worth $539,000 after purchasing an additional 1,534 shares in the last quarter. Axxcess Wealth Management LLC purchased a new position in shares of Blue Bird during the third quarter worth approximately $987,000. Principal Financial Group Inc. grew its position in shares of Blue Bird by 60.7% during the third quarter. Principal Financial Group Inc. now owns 58,019 shares of the company’s stock worth $2,783,000 after acquiring an additional 21,919 shares during the last quarter. Asset Management One Co. Ltd. purchased a new position in shares of Blue Bird during the third quarter worth approximately $2,517,000. Finally, Harbor Capital Advisors Inc. grew its position in shares of Blue Bird by 104.0% during the third quarter. Harbor Capital Advisors Inc. now owns 78,418 shares of the company’s stock worth $3,761,000 after acquiring an additional 39,978 shares during the last quarter. Institutional investors and hedge funds own 93.59% of the company’s stock.

Insider Transactions at Blue Bird

In related news, CEO Phil Horlock sold 32,159 shares of the business’s stock in a transaction dated 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 directly owns 299,812 shares in the company, valued at $14,669,801.16. The trade was a 9.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Britton Smith sold 2,508 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.81, for a total transaction of $124,923.48. Following the completion of the sale, the president now owns 80,617 shares in the company, valued at $4,015,532.77. This represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Blue Bird Stock Performance

NASDAQ:BLBD opened at $41.18 on Friday. 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 Co. has a fifty-two week low of $17.79 and a fifty-two week high of $59.40. The stock has a market cap of $1.33 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 0.19 and a beta of 1.62. The firm’s fifty day simple moving average is $44.31 and its 200-day simple moving average is $48.62.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BLBD. Needham & Company LLC lowered their target price on shares of Blue Bird from $72.00 to $66.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Bank of America raised their target price on shares of Blue Bird from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Roth Mkm lowered shares of 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. Barclays lifted their price objective on shares of Blue Bird from $43.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Finally, StockNews.com upgraded shares of Blue Bird from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.14.

Blue Bird Profile

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.