Malibu Boats, Inc. (NASDAQ:MBUU) Shares Acquired by Studio Investment Management LLC

Studio Investment Management LLC lifted its stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 53.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,087 shares of the company’s stock after purchasing an additional 380 shares during the quarter. Studio Investment Management LLC’s holdings in Malibu Boats were worth $42,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MBUU. Russell Investments Group Ltd. raised its stake in shares of Malibu Boats by 55.6% during the first quarter. Russell Investments Group Ltd. now owns 14,926 shares of the company’s stock worth $646,000 after purchasing an additional 5,332 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Malibu Boats during the first quarter worth approximately $84,000. Quadrature Capital Ltd purchased a new stake in shares of Malibu Boats during the first quarter worth approximately $662,000. Price T Rowe Associates Inc. MD raised its stake in shares of Malibu Boats by 9.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,124 shares of the company’s stock worth $439,000 after purchasing an additional 836 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in Malibu Boats by 16.8% in the first quarter. Janus Henderson Group PLC now owns 15,499 shares of the company’s stock worth $671,000 after acquiring an additional 2,233 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Stock Performance

Shares of MBUU stock opened at $43.15 on Friday. Malibu Boats, Inc. has a fifty-two week low of $30.20 and a fifty-two week high of $56.03. The business has a fifty day simple moving average of $40.95 and a 200-day simple moving average of $37.49. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 1.55.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.16. The business had revenue of $171.60 million for the quarter, compared to analyst estimates of $165.33 million. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The business’s revenue for the quarter was down 32.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.07 earnings per share. On average, analysts predict that Malibu Boats, Inc. will post 2.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. StockNews.com upgraded Malibu Boats to a “sell” rating in a research report on Saturday, November 2nd. DA Davidson cut Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research report on Friday, November 1st. Truist Financial increased their price objective on Malibu Boats from $32.00 to $42.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Benchmark restated a “buy” rating and issued a $44.00 price target on shares of Malibu Boats in a research report on Friday, November 1st. Finally, KeyCorp raised their price target on Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. One equities research 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $44.57.

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.