SG Americas Securities LLC has taken a significant step by acquiring a new position in Blue Bird Corporation (NASDAQ: BLBD) during the second quarter of 2023. This investment involves the purchase of 8,711 shares, valued at approximately $376,000, according to reports from HoldingsChannel.com.
This move reflects a growing interest among institutional investors in Blue Bird Corporation, which specializes in manufacturing school buses. Several other funds have also recently adjusted their stakes in the company. For instance, the University of Texas Texas AM Investment Management Co. initiated a new position valued at about $29,000 in the second quarter. Nisa Investment Advisors LLC increased its holdings by an impressive 159.9%, now owning 993 shares worth approximately $43,000. Additionally, US Bancorp DE raised its stake by 440.1% in the first quarter, amassing 1,442 shares valued at $47,000 after acquiring an additional 1,175 shares.
NewEdge Advisors LLC also expanded its investment in Blue Bird by 30.9% in the first quarter, bringing its total to 2,885 shares, worth $93,000. Summit Securities Group LLC entered the market by purchasing a new stake valued at approximately $102,000. Currently, institutional investors hold 93.59% of Blue Bird’s stock.
Insider Trading Activity
In related news, Blue Bird’s Chief Financial Officer, Razvan Radulescu, executed a sale of 6,709 shares on September 2, 2023. The shares were sold at an average price of $57.41, totaling $385,163.69. Following this transaction, Radulescu retains 40,794 shares valued at approximately $2,341,983.54, marking a 14.12% decrease in his ownership of the stock. This transaction has been disclosed in a filing with the Securities and Exchange Commission (SEC).
Currently, insiders own 1.10% of the company’s stock, underscoring a trend of significant institutional ownership.
Financial Performance and Market Position
As of November 24, 2023, Blue Bird’s stock opened at $52.24. The company maintains a debt-to-equity ratio of 0.33, with a current ratio of 1.74 and a quick ratio of 0.92. Over the past year, Blue Bird has experienced a low of $30.04 and a high of $61.95. With a market capitalization of $1.66 billion, the company boasts a price-to-earnings (P/E) ratio of 13.46 and a price-to-earnings-growth (PEG) ratio of 2.55.
In its latest earnings report, Blue Bird revealed earnings per share (EPS) of $1.32 for the quarter, surpassing analysts’ consensus estimates of $0.97 by $0.35. The company reported revenue of $409.37 million, exceeding expectations of $380.37 million. Year-over-year, revenue increased by 16.9%, while the previous year’s EPS stood at $0.77.
Looking ahead, Blue Bird has set its fiscal year 2026 guidance, with analysts projecting an average EPS of 3.86 for the current year.
Blue Bird Corporation designs, engineers, manufactures, and sells school buses across the United States, Canada, and internationally. The company’s operations are divided into two segments: Bus and Parts. Blue Bird offers a range of vehicles, including Type C and Type D buses, as well as specialty buses powered by alternative fuels such as propane, gasoline, compressed natural gas, and electricity, alongside diesel engines.
With the recent investment and positive financial outlook, Blue Bird Corporation is poised for continued growth as it capitalizes on the increasing demand for innovative school transportation solutions.
