Charles Schwab Investment Management Inc. Raises Holdings in Blue Bird Co. (NASDAQ:BLBD)

Charles Schwab Investment Management Inc. increased its position in Blue Bird Co. (NASDAQ:BLBD) by 34.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 308,253 shares of the company’s stock after buying an additional 79,129 shares during the period. Charles Schwab Investment Management Inc. owned 0.95% of Blue Bird worth $14,784,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC grew its stake in shares of Blue Bird by 81.7% in the 2nd quarter. Renaissance Technologies LLC now owns 509,422 shares of the company’s stock worth $27,432,000 after buying an additional 229,004 shares in the last quarter. Hennessy Advisors Inc. bought a new position in shares of Blue Bird in the 2nd quarter valued at about $11,788,000. Millennium Management LLC grew its position in Blue Bird by 414.2% in the second quarter. Millennium Management LLC now owns 256,933 shares of the company’s stock worth $13,836,000 after acquiring an additional 206,966 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Blue Bird during the second quarter worth approximately $5,719,000. Finally, Squarepoint Ops LLC purchased a new stake in Blue Bird during the second quarter valued at approximately $4,571,000. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Blue Bird news, President Britton Smith sold 2,508 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.81, for a total value of $124,923.48. Following the completion of the sale, the president now directly owns 80,617 shares in the company, valued at approximately $4,015,532.77. This represents a 3.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BLBD shares. Craig Hallum lifted their target price on Blue Bird from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Bank of America dropped their price objective on shares of Blue Bird from $66.00 to $63.50 and set a “buy” rating for the company in a research note on Tuesday, November 26th. BTIG Research began coverage on shares of Blue Bird in a research note on Wednesday, October 9th. They issued a “buy” rating and a $55.00 target price on the stock. Roth Capital lowered shares of Blue Bird from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Finally, Roth Mkm downgraded shares of Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price target on the stock. in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $60.64.

Blue Bird Price Performance

Shares of BLBD stock opened at $40.06 on Friday. The company has a market capitalization of $1.29 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.04 and a beta of 1.59. The company’s 50-day simple moving average is $42.18 and its two-hundred day simple moving average is $48.08. Blue Bird Co. has a one year low of $20.73 and a one year high of $59.40. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.37 and a quick ratio of 0.83.

Blue Bird Company 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.