Hennessy Advisors Inc. Acquires 16,900 Shares of Blue Bird Co. (NASDAQ:BLBD)

Hennessy Advisors Inc. boosted its position in Blue Bird Co. (NASDAQ:BLBD) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 263,400 shares of the company’s stock after purchasing an additional 16,900 shares during the period. Hennessy Advisors Inc.’s holdings in Blue Bird were worth $10,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in BLBD. FMR LLC lifted its stake in Blue Bird by 268.0% in the third quarter. FMR LLC now owns 1,841,745 shares of the company’s stock worth $88,330,000 after purchasing an additional 1,341,259 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Blue Bird by 81.7% during the second quarter. Renaissance Technologies LLC now owns 509,422 shares of the company’s stock valued at $27,432,000 after buying an additional 229,004 shares during the period. Millennium Management LLC boosted its stake in Blue Bird by 414.2% in the second quarter. Millennium Management LLC now owns 256,933 shares of the company’s stock valued at $13,836,000 after acquiring an additional 206,966 shares in the last quarter. Geode Capital Management LLC boosted its stake in Blue Bird by 26.2% in the third quarter. Geode Capital Management LLC now owns 752,228 shares of the company’s stock valued at $36,084,000 after acquiring an additional 156,298 shares in the last quarter. Finally, Barclays PLC boosted its stake in Blue Bird by 976.5% in the third quarter. Barclays PLC now owns 128,658 shares of the company’s stock valued at $6,171,000 after acquiring an additional 116,707 shares in the last quarter. Institutional investors own 93.59% of the company’s stock.

Insider Activity

In other news, CFO Razvan Radulescu sold 19,171 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $42.89, for a total transaction of $822,244.19. Following the completion of the transaction, the chief financial officer now directly owns 89,347 shares of the company’s stock, valued at $3,832,092.83. This trade represents a 17.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Bank of America lowered 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. Needham & Company LLC restated a “buy” rating and set a $66.00 target price on shares of Blue Bird in a research report on Tuesday. Roth Mkm cut shares of Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price objective for the company. in a report on Thursday, October 3rd. Craig Hallum boosted their target price on shares of Blue Bird from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, BTIG Research started coverage on shares of Blue Bird in a research note on Wednesday, October 9th. They set a “buy” rating and a $55.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $60.64.

Blue Bird Stock Performance

NASDAQ BLBD opened at $42.35 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.37 and a debt-to-equity ratio of 0.56. Blue Bird Co. has a 52-week low of $24.15 and a 52-week high of $59.40. The business’s 50-day moving average price is $40.59 and its 200 day moving average price is $45.17. The firm has a market cap of $1.36 billion, a P/E ratio of 13.32, a P/E/G ratio of 1.05 and a beta of 1.58.

Blue Bird 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.