Blue Bird Corporation (BLBD) Stake Increased by Skandinaviska Enskilda Banken AB publ
Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Blue Bird Corporation (NASDAQ:BLBD) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,785,806 shares of the company’s stock after buying an additional 17,936 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 7.37% of Blue Bird worth $36,788,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. William Blair Investment Management LLC acquired a new stake in shares of Blue Bird during the 2nd quarter worth approximately $8,187,000. Tocqueville Asset Management L.P. acquired a new stake in shares of Blue Bird during the 3rd quarter worth approximately $7,816,000. Vanguard Group Inc. grew its position in shares of Blue Bird by 13.1% during the 2nd quarter. Vanguard Group Inc. now owns 347,565 shares of the company’s stock worth $5,908,000 after buying an additional 40,158 shares during the period. Engine Capital Management LLC grew its position in shares of Blue Bird by 2.3% during the 2nd quarter. Engine Capital Management LLC now owns 224,126 shares of the company’s stock worth $3,810,000 after buying an additional 5,000 shares during the period. Finally, Blair William & Co. IL grew its position in shares of Blue Bird by 189.2% during the 2nd quarter. Blair William & Co. IL now owns 216,918 shares of the company’s stock worth $3,688,000 after buying an additional 141,918 shares during the period. 95.46% of the stock is owned by institutional investors.
In other news, Director Coliseum Capital Management, L sold 742,566 shares of the firm’s stock in a transaction that occurred on Saturday, September 23rd. The shares were sold at an average price of $18.65, for a total transaction of $13,848,855.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 16.70% of the company’s stock.
Blue Bird announced that its board has initiated a stock repurchase plan on Thursday, August 3rd that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 11.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
Separately, Roth Capital set a $22.00 price objective on shares of Blue Bird and gave the stock a “buy” rating in a research report on Monday, August 7th.
About Blue Bird
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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