Coliseum Capital Management, L Sells 742,566 Shares of Blue Bird Corporation (BLBD) Stock
Blue Bird Corporation (NASDAQ:BLBD) Director Coliseum Capital Management, L sold 742,566 shares of Blue Bird Corporation stock in a transaction dated Saturday, September 23rd. The shares were sold at an average price of $18.65, for a total value of $13,848,855.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Blue Bird Corporation (BLBD) opened at 19.65 on Thursday. The company has a market cap of $476.18 million, a PE ratio of 22.46 and a beta of 1.76. Blue Bird Corporation has a 12-month low of $13.81 and a 12-month high of $19.85. The stock’s 50 day moving average price is $17.96 and its 200 day moving average price is $17.75.
Blue Bird Corporation (NASDAQ:BLBD) last released its earnings results on Thursday, August 3rd. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.58 by $0.10. Blue Bird Corporation had a negative return on equity of 19.49% and a net margin of 2.60%. The business had revenue of $332.60 million during the quarter, compared to analysts’ expectations of $324.13 million. Equities research analysts anticipate that Blue Bird Corporation will post $1.15 EPS for the current year.
Blue Bird Corporation announced that its board has approved a stock repurchase program on Thursday, August 3rd that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to reacquire up to 11.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLBD. Federated Investors Inc. PA grew its stake in Blue Bird Corporation by 82.1% during the second quarter. Federated Investors Inc. PA now owns 6,143 shares of the company’s stock worth $104,000 after purchasing an additional 2,770 shares during the period. New York State Common Retirement Fund grew its stake in Blue Bird Corporation by 128.2% during the second quarter. New York State Common Retirement Fund now owns 10,500 shares of the company’s stock worth $179,000 after purchasing an additional 5,899 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Blue Bird Corporation during the second quarter worth approximately $192,000. California State Teachers Retirement System grew its stake in Blue Bird Corporation by 18.4% during the second quarter. California State Teachers Retirement System now owns 12,876 shares of the company’s stock worth $219,000 after purchasing an additional 2,000 shares during the period. Finally, Teachers Advisors LLC grew its stake in Blue Bird Corporation by 76.5% during the second quarter. Teachers Advisors LLC now owns 12,958 shares of the company’s stock worth $220,000 after purchasing an additional 5,616 shares during the period. 96.15% of the stock is owned by institutional investors and hedge funds.
Separately, Roth Capital set a $22.00 price objective on Blue Bird Corporation and gave the company a “buy” rating in a report on Monday, August 7th.
About Blue Bird Corporation
Blue Bird Corporation designs, engineers, manufactures, and sells school buses and aftermarket parts in the United States, Canada, and internationally. It offers Type C, Type D, and specialty buses, as well as Sigma, a bus for public transportation. The company sells its products through a network of dealers, as well as directly to fleet operators, the United States government, and state governments.
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