Connor Clark & Lunn Investment Management Ltd. Has $938,000 Stock Holdings in Malibu Boats, Inc. (NASDAQ:MBUU)

Connor Clark & Lunn Investment Management Ltd. cut its position in Malibu Boats, Inc. (NASDAQ:MBUU) by 34.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,167 shares of the company’s stock after selling 12,944 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Malibu Boats were worth $938,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MBUU. Pzena Investment Management LLC acquired a new stake in shares of Malibu Boats during the second quarter worth $51,800,000. Dimensional Fund Advisors LP raised its holdings in shares of Malibu Boats by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock worth $39,661,000 after acquiring an additional 111,699 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Malibu Boats by 94.4% during the second quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock worth $29,560,000 after acquiring an additional 409,574 shares during the period. Lodge Hill Capital LLC acquired a new stake in shares of Malibu Boats during the second quarter worth $4,866,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Malibu Boats by 37.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 114,525 shares of the company’s stock worth $4,445,000 after acquiring an additional 31,026 shares during the period. 91.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Robert W. Baird raised their price objective on shares of Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Truist Financial lifted their price target on shares of Malibu Boats from $32.00 to $42.00 and gave the company a “hold” rating in a research note on Friday, November 1st. DA Davidson lowered shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research note on Friday, November 1st. StockNews.com upgraded shares of Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. Finally, Benchmark reiterated a “buy” rating and issued a $44.00 price target on shares of Malibu Boats in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $44.57.

Malibu Boats Stock Performance

NASDAQ MBUU opened at $43.64 on Thursday. The company has a quick ratio of 0.52, a current ratio of 1.55 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $860.58 million, a P/E ratio of -10.59 and a beta of 1.36. Malibu Boats, Inc. has a 12-month low of $30.20 and a 12-month high of $56.03. The firm has a 50-day moving average price of $41.23 and a two-hundred day moving average price of $37.69.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Thursday, October 31st. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.16. The company had revenue of $171.60 million during the quarter, compared to analysts’ expectations of $165.33 million. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. The business’s revenue for the quarter was down 32.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 EPS. Analysts anticipate that Malibu Boats, Inc. will post 2.01 earnings per share 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.