nVerses Capital LLC Makes New Investment in Malibu Boats, Inc. (NASDAQ:MBUU)

nVerses Capital LLC bought a new stake in Malibu Boats, Inc. (NASDAQ:MBUU) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,900 shares of the company’s stock, valued at approximately $74,000.

Other institutional investors have also modified their holdings of the company. Studio Investment Management LLC raised its position in Malibu Boats by 264.4% during the 2nd quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock worth $25,000 after buying an additional 513 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in Malibu Boats in the 1st quarter valued at approximately $84,000. SG Americas Securities LLC acquired a new position in Malibu Boats during the 2nd quarter worth approximately $139,000. Central Pacific Bank Trust Division purchased a new position in shares of Malibu Boats during the 1st quarter worth approximately $142,000. Finally, Benjamin Edwards Inc. lifted its holdings in shares of Malibu Boats by 43.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 5,112 shares of the company’s stock valued at $179,000 after buying an additional 1,539 shares during the period. Institutional investors and hedge funds own 91.35% of the company’s stock.

Wall Street Analysts Forecast Growth

MBUU has been the subject of several research analyst reports. Truist Financial reiterated a “hold” rating and issued a $32.00 price objective on shares of Malibu Boats in a research report on Monday, July 8th. DA Davidson reiterated a “buy” rating and issued a $45.00 price objective on shares of Malibu Boats in a research note on Tuesday, September 10th. B. Riley lowered their target price on shares of Malibu Boats from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, StockNews.com cut shares of Malibu Boats from a “hold” rating to a “sell” rating in a report on Friday, August 30th. One investment 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. According to MarketBeat, Malibu Boats currently has a consensus rating of “Hold” and a consensus target price of $40.00.

Malibu Boats Trading Down 3.1 %

NASDAQ:MBUU opened at $41.85 on Tuesday. Malibu Boats, Inc. has a twelve month low of $30.20 and a twelve month high of $56.03. The company has a market capitalization of $855.41 million, a P/E ratio of -15.67 and a beta of 1.38. The firm has a 50-day moving average price of $37.88 and a two-hundred day moving average price of $36.56.

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

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.