Malibu Boats, Inc. (NASDAQ:MBUU) Shares Purchased by Studio Investment Management LLC

Studio Investment Management LLC increased its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 53.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,087 shares of the company’s stock after acquiring an additional 380 shares during the quarter. Studio Investment Management LLC’s holdings in Malibu Boats were worth $42,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pzena Investment Management LLC purchased a new stake in Malibu Boats in the 2nd quarter valued at about $51,800,000. The Manufacturers Life Insurance Company raised its holdings in Malibu Boats by 94.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock valued at $29,560,000 after buying an additional 409,574 shares during the period. Lodge Hill Capital LLC purchased a new stake in Malibu Boats in the 2nd quarter valued at about $4,866,000. Dimensional Fund Advisors LP raised its holdings in Malibu Boats by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock valued at $39,661,000 after buying an additional 111,699 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in Malibu Boats in the 2nd quarter valued at about $3,667,000. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats Stock Up 2.6 %

MBUU stock opened at $43.15 on Friday. The company’s 50 day moving average price is $40.95 and its 200 day moving average price is $37.49. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 1.55. Malibu Boats, Inc. has a fifty-two week low of $30.20 and a fifty-two week high of $56.03.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.16. The firm had revenue of $171.60 million during the quarter, compared to the consensus estimate of $165.33 million. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The firm’s quarterly revenue was down 32.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.07 earnings per share. As a group, analysts forecast that Malibu Boats, Inc. will post 2.01 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Robert W. Baird boosted their price objective on shares of Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Truist Financial boosted their price target on shares of Malibu Boats from $32.00 to $42.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. DA Davidson lowered shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research note on Friday, November 1st. Benchmark reiterated a “buy” rating and set a $44.00 price target on shares of Malibu Boats in a research note on Friday, November 1st. Finally, KeyCorp upped their target price on shares of Malibu Boats from $38.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $44.57.

Malibu Boats Profile

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.