SummerHaven Investment Management LLC Makes New $1.07 Million Investment in Blue Bird Corporation $BLBD

SummerHaven Investment Management LLC acquired a new position in shares of Blue Bird Corporation (NASDAQ:BLBD) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,633 shares of the company’s stock, valued at approximately $1,072,000. Blue Bird comprises 0.6% of SummerHaven Investment Management LLC’s holdings, making the stock its 25th largest position.

Several other hedge funds also recently modified their holdings of BLBD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Blue Bird by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,094 shares of the company’s stock worth $618,000 after acquiring an additional 820 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Blue Bird by 30.9% during the 1st quarter. NewEdge Advisors LLC now owns 2,885 shares of the company’s stock worth $93,000 after purchasing an additional 681 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Blue Bird by 2,090.5% in the first quarter. Jones Financial Companies Lllp now owns 3,461 shares of the company’s stock valued at $112,000 after buying an additional 3,303 shares in the last quarter. ZWJ Investment Counsel Inc. acquired a new position in Blue Bird during the second quarter worth $259,000. Finally, Concurrent Investment Advisors LLC raised its position in Blue Bird by 5.4% during the second quarter. Concurrent Investment Advisors LLC now owns 8,995 shares of the company’s stock worth $388,000 after acquiring an additional 457 shares in the last quarter. Institutional investors own 93.59% of the company’s stock.

Insider Activity

In related news, CFO Razvan Radulescu sold 7,984 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $50.39, for a total transaction of $402,313.76. Following the transaction, the chief financial officer owned 49,087 shares in the company, valued at $2,473,493.93. The trade was a 13.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Phil Horlock sold 15,381 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $50.42, for a total transaction of $775,510.02. Following the transaction, the director directly owned 225,385 shares in the company, valued at approximately $11,363,911.70. This represents a 6.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BLBD shares. DA Davidson lifted their price objective on shares of Blue Bird from $70.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Zacks Research lowered Blue Bird from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 7th. Needham & Company LLC reissued a “buy” rating and set a $70.00 target price on shares of Blue Bird in a report on Tuesday, November 25th. BTIG Research restated a “buy” rating and issued a $65.00 price target on shares of Blue Bird in a research note on Tuesday, November 25th. Finally, Bank of America lifted their price objective on shares of Blue Bird from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $64.60.

Blue Bird Trading Up 1.3%

Shares of BLBD stock opened at $50.61 on Wednesday. Blue Bird Corporation has a 1-year low of $30.04 and a 1-year high of $61.95. The company has a current ratio of 1.74, a quick ratio of 1.15 and a debt-to-equity ratio of 0.33. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 2.37 and a beta of 1.43. The stock has a 50-day moving average of $50.25 and a 200-day moving average of $52.20.

Blue Bird (NASDAQ:BLBD) last announced its earnings results on Monday, November 24th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $0.97 by $0.35. Blue Bird had a return on equity of 62.87% and a net margin of 8.63%.The business had revenue of $409.37 million for the quarter, compared to analysts’ expectations of $380.37 million. During the same period in the prior year, the business posted $0.77 earnings per share. The firm’s revenue was up 16.9% on a year-over-year basis. On average, equities research analysts forecast that Blue Bird Corporation will post 3.86 earnings per share for the current year.

Blue Bird Profile

Blue Bird Corporation (NASDAQ: BLBD) is a leading manufacturer of buses and mass transportation vehicles headquartered in Fort Valley, Georgia. The company’s core business encompasses the design, engineering, and production of school buses and activity buses, with a product lineup that includes conventional (Type C) models, transit-style (Type D) models and specialty configurations for special-needs and activity transport. In recent years, Blue Bird has expanded its offerings to include zero-emission electric school buses, reflecting its commitment to advanced propulsion technologies and environmental sustainability.

Established in 1927, Blue Bird has built a legacy of safety and reliability in student transportation.