Wells Fargo & Company MN lifted its position in shares of Malibu Boats Inc (NASDAQ:MBUU) by 60.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 214,493 shares of the company’s stock after purchasing an additional 80,921 shares during the period. Wells Fargo & Company MN owned 1.03% of Malibu Boats worth $8,333,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. GSA Capital Partners LLP boosted its holdings in shares of Malibu Boats by 106.4% during the second quarter. GSA Capital Partners LLP now owns 23,412 shares of the company’s stock worth $910,000 after purchasing an additional 12,067 shares during the period. State Board of Administration of Florida Retirement System purchased a new stake in shares of Malibu Boats during the second quarter worth about $224,000. Chicago Equity Partners LLC boosted its holdings in shares of Malibu Boats by 2.2% during the second quarter. Chicago Equity Partners LLC now owns 33,205 shares of the company’s stock worth $1,290,000 after purchasing an additional 720 shares during the period. Swiss National Bank purchased a new stake in shares of Malibu Boats during the second quarter worth about $1,503,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Malibu Boats by 4.2% during the second quarter. Envestnet Asset Management Inc. now owns 9,291 shares of the company’s stock worth $361,000 after purchasing an additional 373 shares during the period. Institutional investors own 99.69% of the company’s stock.
MBUU traded up $0.90 on Friday, hitting $31.25. The company had a trading volume of 3,887 shares, compared to its average volume of 310,146. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.69 and a quick ratio of 0.79. Malibu Boats Inc has a 52-week low of $24.79 and a 52-week high of $57.90. The stock has a fifty day simple moving average of $27.99 and a 200-day simple moving average of $37.08. The firm has a market capitalization of $634.98 million, a P/E ratio of 8.52, a P/E/G ratio of 0.80 and a beta of 1.81.
Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, August 29th. The company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.15. Malibu Boats had a net margin of 9.66% and a return on equity of 44.28%. The business had revenue of $194.82 million during the quarter, compared to analyst estimates of $185.75 million. During the same period last year, the business posted $0.76 earnings per share. Malibu Boats’s quarterly revenue was up 40.5% compared to the same quarter last year. Equities research analysts expect that Malibu Boats Inc will post 3.82 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on MBUU. BMO Capital Markets dropped their target price on shares of Malibu Boats from $62.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, August 30th. Wells Fargo & Co set a $40.00 price objective on shares of Malibu Boats and gave the stock a “buy” rating in a report on Thursday, August 29th. ValuEngine lowered shares of Malibu Boats from a “sell” rating to a “strong sell” rating in a report on Monday, July 22nd. Zacks Investment Research lowered shares of Malibu Boats from a “hold” rating to a “sell” rating in a report on Thursday, August 29th. Finally, KeyCorp lowered their price objective on shares of Malibu Boats from $53.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Three analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $47.83.
Malibu Boats Profile
Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.
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