Kendall Capital Management Trims Stock Position in Malibu Boats, Inc. (NASDAQ:MBUU)

Kendall Capital Management lessened its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 9.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,628 shares of the company’s stock after selling 915 shares during the quarter. Kendall Capital Management’s holdings in Malibu Boats were worth $302,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in Malibu Boats by 315.0% in the 4th quarter. Wellington Management Group LLP now owns 64,741 shares of the company’s stock valued at $3,549,000 after purchasing an additional 49,141 shares during the last quarter. Bessemer Group Inc. increased its holdings in Malibu Boats by 7.2% in the 1st quarter. Bessemer Group Inc. now owns 307,486 shares of the company’s stock valued at $13,307,000 after purchasing an additional 20,700 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Malibu Boats by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 998,994 shares of the company’s stock valued at $54,765,000 after purchasing an additional 38,450 shares during the last quarter. PAX Financial Group LLC acquired a new stake in Malibu Boats in the 1st quarter valued at approximately $579,000. Finally, Assenagon Asset Management S.A. acquired a new stake in Malibu Boats in the 2nd quarter valued at approximately $3,667,000. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Stock Up 1.8 %

NASDAQ:MBUU opened at $39.95 on Friday. The company has a fifty day simple moving average of $36.23 and a two-hundred day simple moving average of $36.80. The company has a market cap of $816.58 million, a price-to-earnings ratio of -14.96 and a beta of 1.38. Malibu Boats, Inc. has a 52 week low of $30.20 and a 52 week high of $56.03.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Thursday, August 29th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.07). The firm had revenue of $158.70 million for the quarter, compared to analyst estimates of $157.54 million. Malibu Boats had a positive return on equity of 6.21% and a negative net margin of 6.74%. The business’s revenue for the quarter was down 57.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.96 EPS. On average, analysts expect that Malibu Boats, Inc. will post 1.98 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on MBUU. B. Riley dropped their target price on shares of Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. DA Davidson restated a “buy” rating and issued a $45.00 price target on shares of Malibu Boats in a research note on Tuesday, September 10th. StockNews.com downgraded shares of Malibu Boats from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Finally, Truist Financial restated a “hold” rating and issued a $32.00 price target on shares of Malibu Boats in a research note on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $40.00.

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.