Cadence Capital Management LLC Raises Holdings in Blue Bird Corp (BLBD)

Cadence Capital Management LLC grew its position in shares of Blue Bird Corp (NASDAQ:BLBD) by 20.3% during the 3rd quarter, Holdings Channel reports. The firm owned 92,983 shares of the company’s stock after buying an additional 15,686 shares during the quarter. Cadence Capital Management LLC’s holdings in Blue Bird were worth $2,278,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of BLBD. Northern Trust Corp grew its holdings in shares of Blue Bird by 63.0% during the first quarter. Northern Trust Corp now owns 130,044 shares of the company’s stock worth $3,082,000 after purchasing an additional 50,248 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Blue Bird by 51.2% during the first quarter. BlackRock Inc. now owns 544,551 shares of the company’s stock worth $12,905,000 after purchasing an additional 184,451 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Blue Bird by 53.9% during the first quarter. Dimensional Fund Advisors LP now owns 130,096 shares of the company’s stock worth $3,083,000 after purchasing an additional 45,544 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Blue Bird by 37.9% during the first quarter. The Manufacturers Life Insurance Company now owns 8,952 shares of the company’s stock worth $213,000 after purchasing an additional 2,462 shares during the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of Blue Bird by 52.6% during the first quarter. California State Teachers Retirement System now owns 17,876 shares of the company’s stock worth $424,000 after purchasing an additional 6,164 shares during the last quarter. 97.36% of the stock is currently owned by institutional investors.

NASDAQ BLBD opened at $19.83 on Friday. Blue Bird Corp has a 52-week low of $15.66 and a 52-week high of $26.95. The stock has a market cap of $515.57 million, a P/E ratio of 15.99 and a beta of 1.47.

Blue Bird (NASDAQ:BLBD) last released its quarterly earnings results on Wednesday, August 8th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.26. Blue Bird had a negative return on equity of 45.73% and a net margin of 3.02%. The firm had revenue of $314.19 million for the quarter, compared to analyst estimates of $320.90 million. As a group, analysts expect that Blue Bird Corp will post 1.55 EPS for the current year.

In related news, Director Daniel J. Hennessy sold 27,887 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $22.84, for a total transaction of $636,939.08. Following the transaction, the director now owns 5,053 shares of the company’s stock, valued at $115,410.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Asp Bb Holdings Llc sold 969,850 shares of the firm’s stock in a transaction dated Thursday, October 18th. The stock was sold at an average price of $28.00, for a total value of $27,155,800.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,005,750 shares of company stock worth $27,976,317. Corporate insiders own 16.70% of the company’s stock.

A number of equities analysts recently issued reports on the company. Roth Capital set a $24.00 price target on Blue Bird and gave the stock a “buy” rating in a report on Thursday, August 9th. BidaskClub raised Blue Bird from a “sell” rating to a “hold” rating in a report on Tuesday, September 11th. Finally, ValuEngine lowered Blue Bird from a “buy” rating to a “hold” rating in a report on Wednesday, October 17th.

TRADEMARK VIOLATION NOTICE: This news story was first published by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this news story on another publication, it was illegally stolen and republished in violation of U.S. & international copyright law. The legal version of this news story can be read at https://sportsperspectives.com/2018/11/09/cadence-capital-management-llc-raises-holdings-in-blue-bird-corp-blbd.html.

Blue Bird Company Profile

Blue Bird Corporation designs, engineers, manufactures, and sells school buses and aftermarket parts in the United States, Canada, and internationally. The company operates through two segments, Buses and Aftermarket Parts. It offers Type C, Type D, and specialty buses, as well as Sigma, a bus for public transportation.

Further Reading: Understanding Price to Earnings Ratio (PE)

Want to see what other hedge funds are holding BLBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blue Bird Corp (NASDAQ:BLBD).

Institutional Ownership by Quarter for Blue Bird (NASDAQ:BLBD)

Receive News & Ratings for Blue Bird Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blue Bird and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply