Wellington Management Group LLP Raises Stock Position in Malibu Boats, Inc. (NASDAQ:MBUU)

Wellington Management Group LLP grew its holdings in Malibu Boats, Inc. (NASDAQ:MBUU) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,533,605 shares of the company’s stock after acquiring an additional 56,629 shares during the period. Wellington Management Group LLP owned about 7.81% of Malibu Boats worth $57,648,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in Malibu Boats by 370.5% during the 4th quarter. Bank of New York Mellon Corp now owns 440,829 shares of the company’s stock valued at $16,571,000 after purchasing an additional 347,144 shares during the period. Janus Henderson Group PLC raised its position in shares of Malibu Boats by 1,267.7% during the third quarter. Janus Henderson Group PLC now owns 238,576 shares of the company’s stock valued at $9,259,000 after buying an additional 221,133 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Malibu Boats in the fourth quarter worth $8,221,000. Schroder Investment Management Group purchased a new position in shares of Malibu Boats in the fourth quarter worth $6,888,000. Finally, Meros Investment Management LP bought a new position in shares of Malibu Boats during the third quarter worth $4,117,000. Institutional investors own 91.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Truist Financial boosted their price target on shares of Malibu Boats from $34.00 to $38.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. KeyCorp lowered Malibu Boats from an “overweight” rating to a “sector weight” rating in a research note on Thursday, March 20th. Robert W. Baird restated a “neutral” rating and set a $32.00 price target (down previously from $50.00) on shares of Malibu Boats in a report on Friday. Benchmark reaffirmed a “buy” rating and set a $44.00 price objective on shares of Malibu Boats in a report on Tuesday, February 4th. Finally, StockNews.com upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research report on Tuesday, March 11th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $39.83.

Malibu Boats Trading Down 0.7 %

Shares of NASDAQ MBUU opened at $28.51 on Friday. The stock has a market capitalization of $559.79 million, a P/E ratio of -6.55 and a beta of 1.42. Malibu Boats, Inc. has a 1-year low of $25.93 and a 1-year high of $47.82. The business’s 50 day moving average is $33.71 and its two-hundred day moving average is $37.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 0.45.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.20 earnings per share 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, research analysts expect that Malibu Boats, Inc. will post 1.69 EPS for the current 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.