The Manufacturers Life Insurance Company trimmed its position in Malibu Boats, Inc. (NASDAQ:MBUU) by 29.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 116,802 shares of the company’s stock after selling 48,212 shares during the period. The Manufacturers Life Insurance Company owned 0.65% of Malibu Boats worth $3,022,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in shares of Malibu Boats by 65.1% in the first quarter. Bank of New York Mellon Corp now owns 112,720 shares of the company’s stock worth $2,530,000 after acquiring an additional 44,431 shares during the last quarter. American International Group Inc. lifted its holdings in shares of Malibu Boats by 7.1% during the first quarter. American International Group Inc. now owns 11,115 shares of the company’s stock valued at $250,000 after purchasing an additional 733 shares in the last quarter. Teachers Advisors LLC lifted its holdings in shares of Malibu Boats by 15.7% during the first quarter. Teachers Advisors LLC now owns 38,933 shares of the company’s stock valued at $874,000 after purchasing an additional 5,282 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in Malibu Boats by 43.1% in the first quarter. TIAA CREF Investment Management LLC now owns 79,926 shares of the company’s stock valued at $1,794,000 after acquiring an additional 24,062 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in Malibu Boats by 5.8% in the first quarter. California Public Employees Retirement System now owns 67,400 shares of the company’s stock valued at $1,513,000 after acquiring an additional 3,700 shares during the period. 91.09% of the stock is currently owned by institutional investors.
A number of research analysts have weighed in on MBUU shares. B. Riley downgraded Malibu Boats from a “buy” rating to a “neutral” rating and lowered their target price for the company from $26.00 to $25.25 in a report on Monday, August 28th. KeyCorp restated an “overweight” rating and issued a $31.00 price target on shares of Malibu Boats in a research report on Wednesday, August 30th. BMO Capital Markets upgraded Malibu Boats from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $29.00 to $32.00 in a research report on Monday, September 11th. Zacks Investment Research upgraded Malibu Boats from a “hold” rating to a “strong-buy” rating and set a $30.00 price target for the company in a research report on Thursday, September 7th. Finally, ValuEngine upgraded Malibu Boats from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 6th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $32.06.
Shares of Malibu Boats, Inc. (MBUU) opened at $27.80 on Monday. Malibu Boats, Inc. has a one year low of $16.66 and a one year high of $33.35. The company has a quick ratio of 0.71, a current ratio of 1.46 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $566.40, a P/E ratio of 16.55, a PEG ratio of 0.97 and a beta of 1.02.
Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, September 7th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. The firm had revenue of $75.11 million during the quarter, compared to analyst estimates of $73.35 million. Malibu Boats had a return on equity of 54.78% and a net margin of 9.42%. Malibu Boats’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period last year, the company earned $0.38 EPS. sell-side analysts predict that Malibu Boats, Inc. will post 1.91 earnings per share for the current fiscal year.
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About Malibu Boats
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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