Lodge Hill Capital LLC Takes Position in Malibu Boats, Inc. (NASDAQ:MBUU)

Lodge Hill Capital LLC purchased a new position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 138,864 shares of the company’s stock, valued at approximately $4,866,000. Malibu Boats accounts for approximately 1.3% of Lodge Hill Capital LLC’s investment portfolio, making the stock its 19th largest position. Lodge Hill Capital LLC owned 0.68% of Malibu Boats as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Benjamin Edwards Inc. increased its holdings in shares of Malibu Boats by 43.1% in the second quarter. Benjamin Edwards Inc. now owns 5,112 shares of the company’s stock valued at $179,000 after purchasing an additional 1,539 shares during the last quarter. 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 acquiring an additional 111,699 shares during the period. Envestnet Asset Management Inc. raised its holdings in Malibu Boats by 5.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 63,880 shares of the company’s stock valued at $2,238,000 after acquiring an additional 3,288 shares during the period. Studio Investment Management LLC lifted its position in Malibu Boats by 264.4% during the second quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock worth $25,000 after acquiring an additional 513 shares during the last quarter. Finally, Koss Olinger Consulting LLC bought a new stake in shares of Malibu Boats during the second quarter worth approximately $1,749,000. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats Stock Down 1.0 %

Shares of Malibu Boats stock opened at $39.57 on Friday. Malibu Boats, Inc. has a 12-month low of $30.20 and a 12-month high of $56.03. The company has a market capitalization of $808.81 million, a price-to-earnings ratio of -14.82 and a beta of 1.38. The firm’s 50-day moving average price is $36.35 and its two-hundred day moving average price is $36.78.

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

Analyst Ratings Changes

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

Malibu Boats Company 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.