Victory Capital Management Inc. Increases Holdings in Malibu Boats, Inc. (NASDAQ:MBUU)

Victory Capital Management Inc. raised its stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 781.6% during the fourth quarter, HoldingsChannel reports. The firm owned 14,802 shares of the company’s stock after buying an additional 13,123 shares during the quarter. Victory Capital Management Inc.’s holdings in Malibu Boats were worth $556,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Exchange Traded Concepts LLC raised its position in Malibu Boats by 4.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,977 shares of the company’s stock valued at $300,000 after purchasing an additional 311 shares during the period. Central Pacific Bank Trust Division raised its holdings in Malibu Boats by 11.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock valued at $136,000 after buying an additional 368 shares during the period. Studio Investment Management LLC raised its holdings in Malibu Boats by 53.7% during the 3rd quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock valued at $42,000 after buying an additional 380 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of Malibu Boats in the fourth quarter valued at $38,000. Finally, Benjamin Edwards Inc. raised its stake in shares of Malibu Boats by 28.6% in the third quarter. Benjamin Edwards Inc. now owns 6,572 shares of the company’s stock valued at $255,000 after acquiring an additional 1,460 shares during the period. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MBUU. Benchmark reissued a “buy” rating and issued a $44.00 target price on shares of Malibu Boats in a research note on Tuesday, February 4th. StockNews.com upgraded Malibu Boats from a “sell” rating to a “hold” rating in a report on Tuesday, March 11th. B. Riley upgraded Malibu Boats to a “hold” rating in a report on Wednesday, February 12th. KeyCorp lowered Malibu Boats from an “overweight” rating to a “sector weight” rating in a research note on Thursday. Finally, Truist Financial increased their target price on Malibu Boats from $34.00 to $38.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $42.83.

Malibu Boats Trading Down 0.9 %

MBUU opened at $29.55 on Friday. The stock’s fifty day moving average is $34.91 and its two-hundred day moving average is $38.34. The company has a market capitalization of $580.21 million, a P/E ratio of -6.79 and a beta of 1.42. Malibu Boats, Inc. has a 52 week low of $29.02 and a 52 week high of $47.82. The company has a quick ratio of 0.45, a current ratio of 1.52 and a debt-to-equity ratio of 0.04.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.20 EPS 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%. Analysts forecast that Malibu Boats, Inc. will post 1.69 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.