Assenagon Asset Management S.A. Makes New Investment in Blue Bird Corp (NASDAQ:BLBD)

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Assenagon Asset Management S.A. acquired a new position in shares of Blue Bird Corp (NASDAQ:BLBD) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 18,071 shares of the company’s stock, valued at approximately $271,000. Assenagon Asset Management S.A. owned approximately 0.07% of Blue Bird as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Invesco Ltd. boosted its stake in shares of Blue Bird by 10.0% in the 1st quarter. Invesco Ltd. now owns 23,591 shares of the company’s stock valued at $258,000 after purchasing an additional 2,136 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Blue Bird by 57.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,738 shares of the company’s stock valued at $52,000 after purchasing an additional 1,721 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Blue Bird by 15.4% in the 4th quarter. Nuveen Asset Management LLC now owns 74,979 shares of the company’s stock valued at $1,719,000 after purchasing an additional 9,978 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Blue Bird by 9.6% in the 1st quarter. BlackRock Inc. now owns 1,506,001 shares of the company’s stock valued at $16,460,000 after purchasing an additional 132,179 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Blue Bird by 18.7% in the 1st quarter. JPMorgan Chase & Co. now owns 135,554 shares of the company’s stock valued at $1,481,000 after purchasing an additional 21,323 shares in the last quarter. Institutional investors own 92.88% of the company’s stock.

Shares of NASDAQ BLBD opened at $12.53 on Friday. The company has a 50 day simple moving average of $13.77 and a 200 day simple moving average of $14.80. The firm has a market cap of $338.69 million, a PE ratio of 13.33 and a beta of 1.44. Blue Bird Corp has a 1 year low of $8.40 and a 1 year high of $23.99.

Blue Bird (NASDAQ:BLBD) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.14). Blue Bird had a negative return on equity of 61.92% and a net margin of 2.37%. The firm had revenue of $255.41 million for the quarter, compared to the consensus estimate of $205.00 million. Analysts predict that Blue Bird Corp will post 0.88 EPS for the current year.

In other Blue Bird news, General Counsel Paul Yousif sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $14.66, for a total transaction of $146,600.00. 2.70% of the stock is currently owned by company insiders.

A number of research firms have recently weighed in on BLBD. Roth Capital restated a “neutral” rating and issued a $12.00 price target on shares of Blue Bird in a research note on Tuesday, April 28th. Zacks Investment Research upgraded shares of Blue Bird from a “sell” rating to a “hold” rating in a report on Wednesday, July 15th. Craig Hallum dropped their price objective on shares of Blue Bird from $27.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. They noted that the move was a valuation call. BidaskClub lowered shares of Blue Bird from a “hold” rating to a “sell” rating in a report on Thursday, July 23rd. Finally, ValuEngine upgraded shares of Blue Bird from a “sell” rating to a “hold” rating in a report on Monday, June 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Blue Bird currently has a consensus rating of “Hold” and an average price target of $18.67.

About Blue Bird

Blue Bird Corporation designs, engineers, manufactures, and sells school buses and related parts in the United States, Canada, and internationally. It operates through two segments, Bus and Parts. The company offers Type C, Type D, and specialty buses; and alternative fuel applications through its propane-powered, gasoline-powered, compressed natural gas-powered, and electric powered school buses.

Read More: Analyzing a company’s cash flow statement

Institutional Ownership by Quarter for Blue Bird (NASDAQ:BLBD)

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