Fmr LLC Buys 10,276 Shares of Malibu Boats, Inc. (NASDAQ:MBUU)

Fmr LLC lifted its stake in Malibu Boats, Inc. (NASDAQ:MBUU) by 8.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 136,043 shares of the company’s stock after purchasing an additional 10,276 shares during the quarter. Fmr LLC’s holdings in Malibu Boats were worth $5,280,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Studio Investment Management LLC raised its stake in Malibu Boats by 264.4% during the 2nd quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock worth $25,000 after acquiring an additional 513 shares during the period. nVerses Capital LLC bought a new stake in shares of Malibu Boats during the 3rd quarter valued at $74,000. SG Americas Securities LLC purchased a new position in shares of Malibu Boats during the 2nd quarter valued at $139,000. Benjamin Edwards Inc. boosted its holdings in Malibu Boats by 43.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 5,112 shares of the company’s stock worth $179,000 after buying an additional 1,539 shares during the period. Finally, US Bancorp DE increased its stake in Malibu Boats by 851.7% in the 3rd quarter. US Bancorp DE now owns 5,434 shares of the company’s stock worth $211,000 after buying an additional 4,863 shares in the last quarter. 91.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. DA Davidson lowered Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Friday, November 1st. KeyCorp upped their price target on Malibu Boats from $38.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. StockNews.com upgraded shares of Malibu Boats to a “sell” rating in a research report on Saturday, November 2nd. Truist Financial boosted their target price on shares of Malibu Boats from $32.00 to $42.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Benchmark reaffirmed a “buy” rating and set a $44.00 target price on shares of Malibu Boats in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $44.57.

Malibu Boats Stock Down 0.2 %

NASDAQ MBUU opened at $44.14 on Friday. The stock has a 50 day moving average price of $42.36 and a 200-day moving average price of $38.36. Malibu Boats, Inc. has a one year low of $30.20 and a one year high of $56.03. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 1.55. The company has a market capitalization of $870.22 million, a P/E ratio of -11.09 and a beta of 1.30.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.16. The company had revenue of $171.60 million for the quarter, compared to the consensus estimate of $165.33 million. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. Malibu Boats’s revenue was down 32.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.07 earnings per share. As a group, equities analysts predict that Malibu Boats, Inc. will post 2.01 EPS for the current fiscal year.

Malibu Boats Company 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.