Benjamin Edwards Inc. Purchases 1,539 Shares of Malibu Boats, Inc. (NASDAQ:MBUU)

Benjamin Edwards Inc. increased its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 43.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,112 shares of the company’s stock after acquiring an additional 1,539 shares during the period. Benjamin Edwards Inc.’s holdings in Malibu Boats were worth $179,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MBUU. Principal Financial Group Inc. grew its stake in shares of Malibu Boats by 4.7% in the second quarter. Principal Financial Group Inc. now owns 9,728 shares of the company’s stock worth $341,000 after purchasing an additional 435 shares during the last quarter. Studio Investment Management LLC lifted its stake in shares of Malibu Boats by 264.4% in 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 period. Price T Rowe Associates Inc. MD boosted its holdings in Malibu Boats by 9.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,124 shares of the company’s stock valued at $439,000 after acquiring an additional 836 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in Malibu Boats during the 1st quarter valued at approximately $84,000. Finally, NBW Capital LLC raised its holdings in Malibu Boats by 2.1% during the 1st quarter. NBW Capital LLC now owns 96,386 shares of the company’s stock worth $4,172,000 after purchasing an additional 1,996 shares during the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats Stock Performance

Malibu Boats stock opened at $39.57 on Friday. Malibu Boats, Inc. has a fifty-two week low of $30.20 and a fifty-two week high of $56.03. The stock has a market cap of $808.81 million, a P/E ratio of -14.82 and a beta of 1.38. The firm’s fifty day moving average price is $36.35 and its 200-day moving average price is $36.74.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly 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). Malibu Boats had a negative net margin of 6.74% and a positive return on equity of 6.21%. The business had revenue of $158.70 million for the quarter, compared to the consensus estimate of $157.54 million. During the same quarter in the previous year, the business earned $2.96 earnings per share. The firm’s revenue was down 57.4% on a year-over-year basis. On average, analysts predict that Malibu Boats, Inc. will post 1.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

MBUU has been the subject of a number of recent analyst reports. StockNews.com downgraded Malibu Boats from a “hold” rating to a “sell” rating in a report on Friday, August 30th. Truist Financial reissued a “hold” rating and set a $32.00 price objective on shares of Malibu Boats in a research report on Monday, July 8th. DA Davidson reissued a “buy” rating and issued a $45.00 price objective on shares of Malibu Boats in a research note on Tuesday, September 10th. Finally, B. Riley lowered their target price on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report 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 stock. Based on data from MarketBeat.com, Malibu Boats presently has an average rating of “Hold” and a consensus price target of $40.00.

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.