Malibu Boats, Inc. (NASDAQ:MBUU) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 8.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 576,070 shares of the company’s stock after purchasing an additional 43,769 shares during the quarter. Geode Capital Management LLC owned approximately 2.92% of Malibu Boats worth $22,361,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MBUU. Pzena Investment Management LLC lifted its stake in shares of Malibu Boats by 5.2% during the 3rd quarter. Pzena Investment Management LLC now owns 1,555,331 shares of the company’s stock worth $60,362,000 after purchasing an additional 77,015 shares during the period. Wellington Management Group LLP increased its stake in Malibu Boats by 154.8% in the third quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock valued at $57,321,000 after purchasing an additional 897,387 shares during the last quarter. Dimensional Fund Advisors LP increased 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 valued at $39,661,000 after purchasing an additional 111,699 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Malibu Boats by 94.4% during the second quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock worth $29,560,000 after buying an additional 409,574 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Malibu Boats by 1,267.7% in the 3rd quarter. Janus Henderson Group PLC now owns 238,576 shares of the company’s stock worth $9,259,000 after buying an additional 221,133 shares during the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.

Analyst Upgrades and Downgrades

MBUU has been the subject of a number of research analyst reports. StockNews.com raised shares of Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. DA Davidson lowered shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target for the company. in a research report on Friday, November 1st. KeyCorp lifted their price target on shares of Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Benchmark restated a “buy” rating and set a $44.00 price objective on shares of Malibu Boats in a report on Friday, November 1st. Finally, Truist Financial lifted their target price on Malibu Boats from $32.00 to $42.00 and gave the company a “hold” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $44.57.

Malibu Boats Stock Performance

NASDAQ:MBUU opened at $36.59 on Friday. The firm’s fifty day simple moving average is $41.89 and its 200 day simple moving average is $38.44. The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. Malibu Boats, Inc. has a twelve month low of $30.20 and a twelve month high of $55.70. The firm has a market capitalization of $721.37 million, a price-to-earnings ratio of -9.19 and a beta of 1.30.

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