Millburn Ridgefield Corp Makes New $56,000 Investment in Blue Bird Co. (NASDAQ:BLBD)

Millburn Ridgefield Corp purchased a new position in Blue Bird Co. (NASDAQ:BLBD) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,167 shares of the company’s stock, valued at approximately $56,000.

A number of other hedge funds have also recently added to or reduced their stakes in BLBD. Macroview Investment Management LLC acquired a new stake in Blue Bird in the 2nd quarter worth about $29,000. Truvestments Capital LLC acquired a new stake in Blue Bird in the 3rd quarter worth about $35,000. Private Trust Co. NA acquired a new stake in Blue Bird in the 3rd quarter worth about $38,000. nVerses Capital LLC acquired a new stake in Blue Bird in the 3rd quarter worth about $53,000. Finally, Quarry LP boosted its stake in Blue Bird by 43.9% in the 2nd quarter. Quarry LP now owns 1,174 shares of the company’s stock worth $63,000 after buying an additional 358 shares during the last quarter. 93.59% of the stock is owned by institutional investors and hedge funds.

Blue Bird Stock Performance

Shares of NASDAQ:BLBD opened at $41.25 on Thursday. The company has a market cap of $1.33 billion, a P/E ratio of 12.97, a PEG ratio of 1.07 and a beta of 1.59. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.83 and a current ratio of 1.37. Blue Bird Co. has a one year low of $19.50 and a one year high of $59.40. The business’s 50-day simple moving average is $42.56 and its 200 day simple moving average is $48.28.

Insider Activity at Blue Bird

In other Blue Bird news, President Britton Smith sold 2,508 shares of Blue Bird stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.81, for a total transaction of $124,923.48. Following the sale, the president now directly owns 80,617 shares in the company, valued at $4,015,532.77. The trade was a 3.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

BLBD has been the topic of a number of research analyst reports. Roth Mkm lowered Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price target on the stock. in a research note on Thursday, October 3rd. Craig Hallum lifted their price objective on Blue Bird from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. StockNews.com raised Blue Bird from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. DA Davidson lifted their price objective on Blue Bird from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, BTIG Research started coverage on Blue Bird in a research note on Wednesday, October 9th. They issued a “buy” rating and a $55.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.64.

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.