Allspring Global Investments Holdings LLC Boosts Position in Malibu Boats, Inc. (NASDAQ:MBUU)

Allspring Global Investments Holdings LLC increased its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,711 shares of the company’s stock after acquiring an additional 7,186 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.62% of Malibu Boats worth $4,575,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC raised its position in Malibu Boats by 8.2% in the third quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock valued at $22,361,000 after purchasing an additional 43,769 shares during the period. Meros Investment Management LP purchased a new stake in Malibu Boats in the 3rd quarter valued at about $4,117,000. Empowered Funds LLC lifted its position in Malibu Boats by 38.8% in the third quarter. Empowered Funds LLC now owns 66,606 shares of the company’s stock valued at $2,585,000 after buying an additional 18,636 shares during the last quarter. Barclays PLC boosted its stake in Malibu Boats by 92.6% during the third quarter. Barclays PLC now owns 46,919 shares of the company’s stock worth $1,820,000 after buying an additional 22,556 shares during the period. Finally, Atom Investors LP boosted its stake in Malibu Boats by 219.0% during the third quarter. Atom Investors LP now owns 55,357 shares of the company’s stock worth $2,148,000 after buying an additional 38,002 shares during the period. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Stock Down 2.2 %

Shares of NASDAQ MBUU opened at $35.32 on Friday. The stock has a market cap of $693.68 million, a P/E ratio of -8.12 and a beta of 1.33. The business’s fifty day simple moving average is $37.13 and its 200-day simple moving average is $38.77. Malibu Boats, Inc. has a 12-month low of $30.20 and a 12-month high of $47.82. The company has a current ratio of 1.52, a quick ratio of 0.45 and a debt-to-equity ratio of 0.04.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts predict that Malibu Boats, Inc. will post 1.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MBUU has been the topic of several recent analyst reports. DA Davidson lowered shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a report on Friday, November 1st. Truist Financial upped their price target on Malibu Boats from $34.00 to $38.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. KeyCorp dropped their price objective on Malibu Boats from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Benchmark reissued a “buy” rating and set a $44.00 target price on shares of Malibu Boats in a research note on Tuesday, February 4th. Finally, Robert W. Baird raised their target price on Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $42.83.

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.