Malibu Boats, Inc. (NASDAQ:MBUU) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 370.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 440,829 shares of the company’s stock after purchasing an additional 347,144 shares during the period. Bank of New York Mellon Corp owned 2.24% of Malibu Boats worth $16,571,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of MBUU. Pzena Investment Management LLC increased its holdings in shares of Malibu Boats by 5.2% in the 3rd quarter. Pzena Investment Management LLC now owns 1,555,331 shares of the company’s stock worth $60,362,000 after acquiring an additional 77,015 shares during the period. Wellington Management Group LLP increased its holdings in shares of Malibu Boats by 154.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock worth $57,321,000 after acquiring an additional 897,387 shares during the period. Geode Capital Management LLC increased its holdings in shares of Malibu Boats by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock worth $22,361,000 after acquiring an additional 43,769 shares during the period. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Malibu Boats by 15.8% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 394,288 shares of the company’s stock worth $14,821,000 after acquiring an additional 53,907 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of 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 acquiring an additional 221,133 shares during the period. 91.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Benchmark restated a “buy” rating and set a $44.00 price objective on shares of Malibu Boats in a research report on Tuesday, February 4th. B. Riley upgraded shares of Malibu Boats to a “hold” rating in a research report on Wednesday, February 12th. StockNews.com raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a research report on Tuesday. Truist Financial lifted their target price on shares of Malibu Boats from $34.00 to $38.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Finally, KeyCorp dropped their target price on shares of Malibu Boats from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $42.83.

Malibu Boats Price Performance

Shares of MBUU opened at $31.32 on Wednesday. The stock has a market capitalization of $614.97 million, a P/E ratio of -7.20 and a beta of 1.42. Malibu Boats, Inc. has a twelve month low of $29.69 and a twelve month high of $47.82. The company has a 50 day moving average of $35.76 and a 200-day moving average of $38.67. The company has a quick ratio of 0.45, a current ratio of 1.52 and a debt-to-equity ratio of 0.04.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). Malibu Boats had a negative net margin of 12.09% and a positive return on equity of 1.04%. As a group, equities research analysts forecast that Malibu Boats, Inc. will post 1.69 EPS for the current fiscal 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.