Gradient Investments LLC increased its position in shares of Malibu Boats Inc (NASDAQ:MBUU) by 25.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,134 shares of the company’s stock after buying an additional 5,960 shares during the quarter. Gradient Investments LLC’s holdings in Malibu Boats were worth $894,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System acquired a new position in Malibu Boats during the 2nd quarter worth approximately $224,000. Invesco Ltd. raised its stake in Malibu Boats by 2.4% during the 2nd quarter. Invesco Ltd. now owns 217,825 shares of the company’s stock worth $8,462,000 after buying an additional 5,017 shares during the period. Allianz Asset Management GmbH raised its stake in Malibu Boats by 17.5% during the 2nd quarter. Allianz Asset Management GmbH now owns 224,116 shares of the company’s stock worth $8,707,000 after buying an additional 33,357 shares during the period. Chicago Equity Partners LLC raised its stake in Malibu Boats by 2.2% during the 2nd quarter. Chicago Equity Partners LLC now owns 33,205 shares of the company’s stock worth $1,290,000 after buying an additional 720 shares during the period. Finally, Artemis Investment Management LLP raised its stake in Malibu Boats by 19.8% during the 2nd quarter. Artemis Investment Management LLP now owns 230,200 shares of the company’s stock worth $8,923,000 after buying an additional 38,100 shares during the period.
A number of research analysts recently weighed in on the company. Wells Fargo & Co set a $40.00 price target on Malibu Boats and gave the stock a “buy” rating in a research note on Thursday, August 29th. BMO Capital Markets dropped their price target on Malibu Boats from $62.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, August 30th. B. Riley dropped their price target on Malibu Boats from $62.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Zacks Investment Research raised Malibu Boats from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Raymond James downgraded Malibu Boats from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $47.83.
Shares of Malibu Boats stock opened at $31.00 on Friday. The company has a market cap of $610.95 million, a PE ratio of 8.16, a price-to-earnings-growth ratio of 0.78 and a beta of 1.79. Malibu Boats Inc has a 52 week low of $24.79 and a 52 week high of $50.89. The business has a 50 day moving average price of $29.54 and a 200-day moving average price of $35.17. The company has a quick ratio of 0.79, a current ratio of 1.69 and a debt-to-equity ratio of 0.54.
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 consensus estimate of $0.93 by $0.15. The firm had revenue of $194.82 million during the quarter, compared to the consensus estimate of $185.75 million. Malibu Boats had a return on equity of 44.28% and a net margin of 9.66%. The company’s quarterly revenue was up 40.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.76 earnings per share. As a group, research analysts anticipate that Malibu Boats Inc will post 3.82 EPS for the current year.
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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