Alps Advisors Inc. Reduces Stake in Malibu Boats, Inc. (MBUU)

Alps Advisors Inc. decreased its holdings in Malibu Boats, Inc. (NASDAQ:MBUU) by 23.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,447 shares of the company’s stock after selling 5,300 shares during the period. Alps Advisors Inc. owned about 0.09% of Malibu Boats worth $552,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Malibu Boats by 10.7% in the 2nd quarter. Vanguard Group Inc. now owns 893,667 shares of the company’s stock valued at $23,120,000 after purchasing an additional 86,128 shares during the period. Lord Abbett & CO. LLC increased its holdings in shares of Malibu Boats by 1.9% in the 2nd quarter. Lord Abbett & CO. LLC now owns 873,928 shares of the company’s stock valued at $22,609,000 after purchasing an additional 16,256 shares during the period. American Century Companies Inc. increased its holdings in shares of Malibu Boats by 42.5% in the 3rd quarter. American Century Companies Inc. now owns 664,496 shares of the company’s stock valued at $21,025,000 after purchasing an additional 198,283 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Malibu Boats by 28.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 483,670 shares of the company’s stock valued at $12,513,000 after purchasing an additional 107,413 shares during the period. Finally, Hood River Capital Management LLC acquired a new position in shares of Malibu Boats in the 2nd quarter valued at about $10,572,000. Institutional investors own 91.09% of the company’s stock.

Malibu Boats, Inc. (NASDAQ MBUU) opened at $28.42 on Thursday. Malibu Boats, Inc. has a twelve month low of $16.66 and a twelve month high of $33.35. The company has a market capitalization of $579.03, a P/E ratio of 16.92, a P/E/G ratio of 0.99 and a beta of 1.02. The company has a quick ratio of 0.71, a current ratio of 1.46 and a debt-to-equity ratio of 0.94.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, September 7th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. Malibu Boats had a return on equity of 54.78% and a net margin of 9.42%. The firm had revenue of $75.11 million for the quarter, compared to the consensus estimate of $73.35 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. The firm’s revenue was up 12.6% on a year-over-year basis. analysts expect that Malibu Boats, Inc. will post 1.91 EPS for the current fiscal year.

A number of equities analysts have recently weighed in on the company. BMO Capital Markets upped their target price on Malibu Boats from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Monday. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $34.00 target price on shares of Malibu Boats in a report on Friday, November 10th. KeyCorp reiterated a “buy” rating and issued a $33.00 target price on shares of Malibu Boats in a report on Friday, November 10th. Zacks Investment Research upgraded Malibu Boats from a “hold” rating to a “strong-buy” rating and set a $32.00 target price on the stock in a report on Saturday, November 11th. Finally, B. Riley reiterated a “neutral” rating and issued a $29.50 target price (up previously from $25.50) on shares of Malibu Boats in a report on Monday, November 6th. Two 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. Malibu Boats has a consensus rating of “Buy” and an average price target of $32.31.

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In related news, CEO Jackie D. Jr. Springer sold 40,000 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $27.76, for a total value of $1,110,400.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.50% of the company’s stock.

Malibu Boats Company 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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Institutional Ownership by Quarter for Malibu Boats (NASDAQ:MBUU)

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