Cooke & Bieler LP lessened its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU – Free Report) by 13.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 950,881 shares of the company’s stock after selling 153,061 shares during the quarter. Cooke & Bieler LP’s holdings in Malibu Boats were worth $21,794,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC bought a new stake in Malibu Boats in the 1st quarter worth approximately $194,403,000. Dimensional Fund Advisors LP boosted its position in shares of Malibu Boats by 5.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 967,068 shares of the company’s stock valued at $25,067,000 after acquiring an additional 52,635 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Malibu Boats by 10.6% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 865,239 shares of the company’s stock valued at $19,831,000 after acquiring an additional 82,777 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Malibu Boats by 44.6% during the 1st quarter. Bank of America Corp DE now owns 343,042 shares of the company’s stock valued at $8,892,000 after acquiring an additional 105,734 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of Malibu Boats in the first quarter valued at $2,321,000. Hedge funds and other institutional investors own 91.35% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the stock. Weiss Ratings raised shares of Malibu Boats from a “sell (e+)” rating to a “sell (d)” rating in a report on Thursday, August 27th. Truist Financial upped their price target on shares of Malibu Boats from $31.00 to $34.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Zacks Research downgraded shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th. Raymond James Financial reiterated a “market perform” rating on shares of Malibu Boats in a research report on Monday, August 31st. Finally, Benchmark reiterated a “buy” rating on shares of Malibu Boats in a research report on Friday, August 28th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Malibu Boats has an average rating of “Hold” and an average target price of $31.60.
Get Our Latest Stock Report on MBUU
Malibu Boats Stock Down 1.2%
Shares of NASDAQ:MBUU opened at $21.84 on Thursday. The company has a market cap of $429.81 million, a price-to-earnings ratio of 17.54 and a beta of 1.19. Malibu Boats, Inc. has a 12 month low of $21.16 and a 12 month high of $34.97. The company has a current ratio of 1.43, a quick ratio of 0.60 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $25.04 and a 200 day moving average price of $26.31.
Malibu Boats (NASDAQ:MBUU – Get Free Report) last issued its quarterly earnings data on Thursday, August 27th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.14. Malibu Boats had a return on equity of 4.78% and a net margin of 0.18%. The company had revenue of $295.54 million for the quarter, compared to analysts’ expectations of $263.89 million. During the same period in the previous year, the firm posted $0.42 earnings per share. The firm’s revenue for the quarter was up 42.8% on a year-over-year basis. As a group, equities research analysts predict that Malibu Boats, Inc. will post 2.18 earnings per share for the current year.
Malibu Boats Company 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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