Atom Investors LP raised its holdings in Malibu Boats, Inc. (NASDAQ:MBUU – Free Report) by 11.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 186,051 shares of the company’s stock after buying an additional 18,406 shares during the quarter. Atom Investors LP’s holdings in Malibu Boats were worth $5,248,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Pzena Investment Management LLC increased its holdings in shares of Malibu Boats by 2.5% in the fourth quarter. Pzena Investment Management LLC now owns 1,721,957 shares of the company’s stock valued at $48,576,000 after purchasing an additional 41,713 shares during the period. Cooke & Bieler LP increased its holdings in shares of Malibu Boats by 1.5% in the fourth quarter. Cooke & Bieler LP now owns 1,567,404 shares of the company’s stock valued at $44,216,000 after purchasing an additional 23,313 shares during the period. Wellington Management Group LLP increased its holdings in shares of Malibu Boats by 5.4% in the third quarter. Wellington Management Group LLP now owns 1,328,549 shares of the company’s stock valued at $43,111,000 after purchasing an additional 67,682 shares during the period. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Malibu Boats by 31.6% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 665,373 shares of the company’s stock valued at $18,770,000 after purchasing an additional 159,748 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Malibu Boats by 24.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 429,732 shares of the company’s stock valued at $12,123,000 after purchasing an additional 85,422 shares during the period. 91.35% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
MBUU has been the topic of a number of research reports. Wall Street Zen raised Malibu Boats from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research raised Malibu Boats from a “hold” rating to a “strong-buy” rating in a report on Wednesday, June 10th. Truist Financial cut their price objective on Malibu Boats from $34.00 to $31.00 and set a “hold” rating on the stock in a report on Monday, April 27th. DA Davidson reaffirmed a “neutral” rating and set a $30.00 target price on shares of Malibu Boats in a report on Monday. Finally, Weiss Ratings lowered Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.00.
Malibu Boats Stock Up 1.2%
Malibu Boats stock opened at $28.03 on Wednesday. The firm has a market cap of $550.43 million, a price-to-earnings ratio of -467.17 and a beta of 1.14. Malibu Boats, Inc. has a 52 week low of $23.84 and a 52 week high of $39.65. The business’s 50-day moving average price is $26.60 and its 200 day moving average price is $28.45. The company has a quick ratio of 0.44, a current ratio of 1.31 and a debt-to-equity ratio of 0.32.
Malibu Boats (NASDAQ:MBUU – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.29 by $0.27. The firm had revenue of $235.70 million for the quarter, compared to analyst estimates of $203.46 million. Malibu Boats had a positive return on equity of 3.28% and a negative net margin of 0.11%.Malibu Boats’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. As a group, sell-side analysts anticipate that Malibu Boats, Inc. will post 1.37 earnings per share for the current year.
About Malibu Boats
Malibu Boats, Inc is a leading designer, manufacturer and distributor of performance sport boats for the recreational boating market. The company’s product portfolio includes the premium Malibu® brand and the value-oriented Axis® Wake Research line, as well as Cobalt® boats following its 2020 acquisition. Malibu’s vessels are engineered to serve water-sports enthusiasts, with models optimized for wakeboarding, wakesurfing and waterskiing.
Founded in 1982 by water-sports enthusiast Jack Springer, Malibu Boats is headquartered in Loudon, Tennessee.
Read More
- Five stocks we like better than Malibu Boats
- Gravity Check: Houston, SpaceX Has a Valuation Problem
- Strategy’s Bitcoin Rally Has a Hidden Engine
- Okta’s AI Moment May Be Bigger Than Investors Realize
- 3 Rate-Ready Stocks for the New Fed Chair’s First Big Test
Want to see what other hedge funds are holding MBUU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Malibu Boats, Inc. (NASDAQ:MBUU – Free Report).
Receive News & Ratings for Malibu Boats Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Malibu Boats and related companies with MarketBeat.com's FREE daily email newsletter.
