NBW Capital LLC Cuts Position in Malibu Boats, Inc. (NASDAQ:MBUU)

NBW Capital LLC trimmed its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 94,390 shares of the company’s stock after selling 5,644 shares during the period. NBW Capital LLC owned about 0.46% of Malibu Boats worth $5,174,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Malibu Boats by 58.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,272 shares of the company’s stock valued at $344,000 after purchasing an additional 2,306 shares during the last quarter. VELA Investment Management LLC purchased a new position in Malibu Boats in the fourth quarter valued at approximately $425,000. Kendall Capital Management increased its stake in Malibu Boats by 56.3% in the fourth quarter. Kendall Capital Management now owns 10,283 shares of the company’s stock valued at $564,000 after purchasing an additional 3,705 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Malibu Boats in the fourth quarter valued at approximately $48,000. Finally, Fort Washington Investment Advisors Inc. OH increased its stake in Malibu Boats by 14.7% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 365,540 shares of the company’s stock valued at $20,039,000 after purchasing an additional 46,714 shares during the last quarter. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Raymond James downgraded Malibu Boats from an “outperform” rating to a “market perform” rating in a report on Monday. StockNews.com upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. B. Riley dropped their price target on Malibu Boats from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Tuesday. KeyCorp dropped their price target on Malibu Boats from $58.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. Finally, Robert W. Baird restated an “outperform” rating and issued a $54.00 price target on shares of Malibu Boats in a research report on Friday, January 19th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $49.00.

Malibu Boats Price Performance

Malibu Boats stock traded up $0.34 during midday trading on Thursday, reaching $34.30. 232,716 shares of the company were exchanged, compared to its average volume of 253,355. The company has a market capitalization of $700.75 million, a price-to-earnings ratio of 10.88 and a beta of 1.37. The firm’s 50-day simple moving average is $42.41 and its 200-day simple moving average is $46.45. Malibu Boats, Inc. has a 1 year low of $33.78 and a 1 year high of $62.36. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 1.82.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Tuesday, January 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. Malibu Boats had a return on equity of 24.23% and a net margin of 5.32%. The firm had revenue of $211.07 million for the quarter, compared to analyst estimates of $219.64 million. During the same period last year, the company earned $1.78 EPS. The firm’s quarterly revenue was down 37.7% on a year-over-year basis. On average, analysts anticipate that Malibu Boats, Inc. will post 2.55 EPS for the current year.

Insider Activity

In related news, insider Michael K. Hooks purchased 12,500 shares of Malibu Boats stock in a transaction that occurred on Thursday, February 22nd. The shares were purchased at an average cost of $42.82 per share, with a total value of $535,250.00. Following the transaction, the insider now owns 12,500 shares of the company’s stock, valued at approximately $535,250. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.62% of the company’s stock.

About Malibu Boats

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.