Fmr LLC Purchases 10,276 Shares of Malibu Boats, Inc. (NASDAQ:MBUU)

Fmr LLC grew its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 8.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 136,043 shares of the company’s stock after acquiring an additional 10,276 shares during the period. Fmr LLC owned about 0.69% of Malibu Boats worth $5,280,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Pzena Investment Management LLC raised its position in Malibu Boats by 5.2% during the 3rd quarter. Pzena Investment Management LLC now owns 1,555,331 shares of the company’s stock valued at $60,362,000 after purchasing an additional 77,015 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Malibu Boats by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock worth $39,661,000 after acquiring an additional 111,699 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Malibu Boats by 94.4% in the second quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock worth $29,560,000 after acquiring an additional 409,574 shares during the period. Lodge Hill Capital LLC bought a new stake in Malibu Boats in the second quarter valued at $4,866,000. Finally, Allspring Global Investments Holdings LLC increased its position in Malibu Boats by 37.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 114,525 shares of the company’s stock valued at $4,445,000 after purchasing an additional 31,026 shares during the period. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MBUU has been the topic of a number of research reports. DA Davidson lowered shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research note on Friday, November 1st. KeyCorp lifted their price objective on Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Benchmark reissued a “buy” rating and issued a $44.00 target price on shares of Malibu Boats in a research report on Friday, November 1st. Truist Financial lifted their price target on Malibu Boats from $32.00 to $42.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, Robert W. Baird raised their price objective on Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $44.57.

Malibu Boats Trading Down 0.2 %

NASDAQ MBUU opened at $44.14 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 current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average price is $42.36 and its 200-day moving average price is $38.36. The stock has a market cap of $870.22 million, a P/E ratio of -11.09 and a beta of 1.30.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.16. The company had revenue of $171.60 million for the quarter, compared to the consensus estimate of $165.33 million. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. Malibu Boats’s revenue for the quarter was down 32.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.07 EPS. As a group, equities analysts forecast that Malibu Boats, Inc. will post 2.01 EPS for the current fiscal year.

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.