Vestcor Inc Grows Holdings in Malibu Boats, Inc. (NASDAQ:MBUU)

Vestcor Inc increased its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 317.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,410 shares of the company’s stock after buying an additional 4,873 shares during the period. Vestcor Inc’s holdings in Malibu Boats were worth $241,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its position in shares of Malibu Boats by 38.8% in the 3rd quarter. Empowered Funds LLC now owns 66,606 shares of the company’s stock worth $2,585,000 after purchasing an additional 18,636 shares during the last quarter. Pzena Investment Management LLC increased its position 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 purchasing an additional 77,015 shares during the last quarter. Studio Investment Management LLC increased its position in shares of Malibu Boats by 53.7% in the 3rd quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock worth $42,000 after purchasing an additional 380 shares during the last quarter. FMR LLC increased its position in shares of Malibu Boats by 8.2% in the 3rd quarter. FMR LLC now owns 136,043 shares of the company’s stock worth $5,280,000 after purchasing an additional 10,276 shares during the last quarter. Finally, De Lisle Partners LLP increased its position in shares of Malibu Boats by 6.0% in the 3rd quarter. De Lisle Partners LLP now owns 106,369 shares of the company’s stock worth $4,131,000 after purchasing an additional 6,000 shares during the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Trading Down 2.6 %

Malibu Boats stock opened at $30.53 on Wednesday. The company has a quick ratio of 0.45, a current ratio of 1.52 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $35.19 and a two-hundred day moving average price of $38.51. The firm has a market capitalization of $599.46 million, a price-to-earnings ratio of -7.02 and a beta of 1.42. Malibu Boats, Inc. has a 52-week low of $29.70 and a 52-week high of $47.82.

Malibu Boats (NASDAQ:MBUU) last posted its 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%. Sell-side analysts expect that Malibu Boats, Inc. will post 1.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MBUU has been the subject of several research analyst reports. StockNews.com raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a research report on Tuesday, March 11th. Benchmark reaffirmed a “buy” rating and set a $44.00 price objective on shares of Malibu Boats in a research report on Tuesday, February 4th. KeyCorp lowered their price objective on shares of Malibu Boats from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. B. Riley raised shares of Malibu Boats to a “hold” rating in a research report on Wednesday, February 12th. Finally, Truist Financial boosted their price objective on shares of Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $42.83.

Malibu Boats Company 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.