Fort Washington Investment Advisors Inc. OH lifted its stake in Malibu Boats, Inc. (NASDAQ:MBUU – Free Report) by 10.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 865,239 shares of the company’s stock after acquiring an additional 82,777 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Malibu Boats were worth $19,831,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in MBUU. Central Pacific Bank Trust Division boosted its holdings in shares of Malibu Boats by 11.9% in the third quarter. Central Pacific Bank Trust Division now owns 5,934 shares of the company’s stock valued at $136,000 after acquiring an additional 630 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Malibu Boats during the second quarter worth approximately $206,000. Engineers Gate Manager LP bought a new stake in Malibu Boats during the second quarter worth approximately $1,033,000. Squarepoint Ops LLC bought a new stake in Malibu Boats during the second quarter worth approximately $316,000. Finally, AXQ Capital LP acquired a new stake in Malibu Boats in the second quarter worth approximately $272,000. 91.35% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. Raymond James Financial reaffirmed a “market perform” rating on shares of Malibu Boats in a research note on Monday, August 31st. Zacks Research downgraded Malibu Boats from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th. Weiss Ratings raised Malibu Boats from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, August 27th. Benchmark restated a “buy” rating on shares of Malibu Boats in a report on Friday, August 28th. Finally, Truist Financial upped their price objective on Malibu Boats from $31.00 to $34.00 and gave the company a “hold” rating in a report on Monday, July 6th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $31.60.
Check Out Our Latest Research Report on MBUU
Malibu Boats Trading Up 5.5%
NASDAQ:MBUU opened at $22.68 on Friday. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. Malibu Boats, Inc. has a 1-year low of $21.16 and a 1-year high of $34.97. The firm has a market capitalization of $446.34 million, a price-to-earnings ratio of 17.06 and a beta of 1.19. The stock has a fifty day simple moving average of $25.62 and a 200 day simple moving average of $26.41.
Malibu Boats (NASDAQ:MBUU – Get Free Report) last issued its quarterly earnings results on Thursday, August 27th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.14. The firm had revenue of $295.54 million for the quarter, compared to analysts’ expectations of $263.89 million. Malibu Boats had a return on equity of 4.78% and a net margin of 0.18%. Malibu Boats’s revenue was up 42.8% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. Sell-side analysts forecast that Malibu Boats, Inc. will post 2.18 earnings per share for the current year.
Malibu Boats Profile
Malibu Boats, Inc is a recreational powerboat manufacturer headquartered in Loudon, Tennessee. Founded in 1982, the company designs and produces boats for water sports, cruising, fishing and general recreational use, selling its products through a network of independent dealers.
Its brand portfolio includes Malibu and Axis, which focus on wake and water-sports boats, as well as Pursuit, Maverick, Cobia, Pathfinder and Hewes, which offer a range of offshore, center-console and inshore fishing boats.
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