Ajo LP purchased a new position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 194,225 shares of the company’s stock, valued at approximately $5,025,000. Ajo LP owned approximately 1.08% of Malibu Boats as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Malibu Boats during the 2nd quarter worth about $116,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Malibu Boats during the 1st quarter worth about $206,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Malibu Boats during the 2nd quarter worth about $211,000. Highbridge Capital Management LLC bought a new stake in shares of Malibu Boats during the 1st quarter worth about $215,000. Finally, Cigna Investments Inc. New bought a new stake in shares of Malibu Boats during the 2nd quarter worth about $231,000.
Shares of Malibu Boats, Inc. (MBUU) opened at 27.93 on Friday. The company’s 50-day moving average price is $26.80 and its 200 day moving average price is $24.58. The company has a market cap of $566.62 million, a P/E ratio of 17.68 and a beta of 0.99. Malibu Boats, Inc. has a 52 week low of $14.12 and a 52 week high of $29.50.
Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, September 7th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The firm had revenue of $75.11 million for the quarter, compared to the consensus estimate of $73.35 million. Malibu Boats had a return on equity of 78.71% and a net margin of 10.06%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 earnings per share. On average, equities analysts forecast that Malibu Boats, Inc. will post $1.89 EPS for the current fiscal year.
In other Malibu Boats news, Director Peter E. Murphy purchased 3,000 shares of the stock in a transaction on Thursday, August 10th. The shares were purchased at an average price of $25.50 per share, with a total value of $76,500.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.71% of the stock is owned by insiders.
Several research firms have recently issued reports on MBUU. BidaskClub downgraded Malibu Boats from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 5th. Zacks Investment Research upgraded Malibu Boats from a “hold” rating to a “strong-buy” rating and set a $29.00 price target for the company in a research note on Saturday, August 12th. B. Riley downgraded Malibu Boats from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $26.00 to $25.25 in a research note on Monday, August 28th. BMO Capital Markets reiterated a “hold” rating and set a $29.00 price target on shares of Malibu Boats in a research note on Wednesday, July 5th. Finally, ValuEngine upgraded Malibu Boats from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $28.92.
Malibu Boats Profile
Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s segments include the U.S. and Australia. Each segment is engaged in the manufacturing, distribution, marketing and sale of performance sport boats. Its U.S. segment serves markets in North America, South America, Europe and Asia.
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