JPMorgan Chase & Co. Trims Position in Malibu Boats, Inc. (NASDAQ:MBUU)

JPMorgan Chase & Co. cut its stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 92.7% during the third quarter, HoldingsChannel.com reports. The fund owned 21,885 shares of the company’s stock after selling 278,772 shares during the quarter. JPMorgan Chase & Co.’s holdings in Malibu Boats were worth $849,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in Malibu Boats by 154.8% in the third quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock worth $57,321,000 after buying an additional 897,387 shares in the last quarter. The Manufacturers Life Insurance Company increased 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 valued at $29,560,000 after acquiring an additional 409,574 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Malibu Boats by 1,267.7% in the 3rd quarter. Janus Henderson Group PLC now owns 238,576 shares of the company’s stock valued at $9,259,000 after acquiring an additional 221,133 shares during the period. Dimensional Fund Advisors LP raised its stake in Malibu Boats by 10.9% in the 2nd 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 last quarter. Finally, Meros Investment Management LP acquired a new stake in Malibu Boats during the 3rd quarter worth about $4,117,000. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on MBUU. StockNews.com upgraded shares of Malibu Boats to a “sell” rating in a report on Saturday, November 2nd. KeyCorp decreased their target price on shares of Malibu Boats from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. DA Davidson lowered shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research note on Friday, November 1st. Benchmark restated a “buy” rating and set a $44.00 target price on shares of Malibu Boats in a research report on Friday, November 1st. Finally, Truist Financial reduced their price target on Malibu Boats from $42.00 to $34.00 and set a “hold” rating for the company in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Malibu Boats currently has an average rating of “Hold” and a consensus target price of $42.71.

Malibu Boats Trading Down 0.3 %

Shares of MBUU stock opened at $38.12 on Monday. The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. Malibu Boats, Inc. has a twelve month low of $30.20 and a twelve month high of $52.18. The company’s 50-day moving average price is $39.27 and its 200-day moving average price is $38.70. The stock has a market cap of $751.73 million, a price-to-earnings ratio of -9.58 and a beta of 1.32.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.16. The business 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.07 EPS. As a group, equities analysts predict that Malibu Boats, Inc. will post 2.06 earnings per share for the current year.

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.