Piermont Capital Management Inc. bought a new position in Malibu Boats (NASDAQ:MBUU) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 12,480 shares of the company’s stock, valued at approximately $414,000. Piermont Capital Management Inc. owned 0.06% of Malibu Boats at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Mackenzie Financial Corp raised its position in shares of Malibu Boats by 42.5% in the 4th quarter. Mackenzie Financial Corp now owns 64,062 shares of the company’s stock worth $1,905,000 after buying an additional 19,091 shares during the period. SG Americas Securities LLC purchased a new position in Malibu Boats in the fourth quarter valued at about $432,000. Lazard Asset Management LLC raised its position in Malibu Boats by 87.0% in the fourth quarter. Lazard Asset Management LLC now owns 1,521,832 shares of the company’s stock valued at $45,244,000 after purchasing an additional 707,932 shares during the period. Navellier & Associates Inc raised its position in Malibu Boats by 100.1% in the fourth quarter. Navellier & Associates Inc now owns 20,102 shares of the company’s stock valued at $598,000 after purchasing an additional 10,058 shares during the period. Finally, American International Group Inc. raised its position in Malibu Boats by 13.7% in the fourth quarter. American International Group Inc. now owns 13,725 shares of the company’s stock valued at $408,000 after purchasing an additional 1,652 shares during the period.
Shares of Malibu Boats opened at $42.38 on Wednesday, MarketBeat reports. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.87 and a quick ratio of 1.21. The stock has a market cap of $886.28 million, a PE ratio of 19.63, a price-to-earnings-growth ratio of 1.22 and a beta of 1.02. Malibu Boats has a 1-year low of $23.00 and a 1-year high of $44.18.
Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Wednesday, May 2nd. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.19. The company had revenue of $140.43 million during the quarter, compared to the consensus estimate of $125.92 million. Malibu Boats had a return on equity of 45.08% and a net margin of 5.73%. The company’s revenue was up 82.0% on a year-over-year basis. During the same period last year, the firm earned $0.49 earnings per share. analysts predict that Malibu Boats will post 2.36 EPS for the current fiscal year.
MBUU has been the topic of several research reports. KeyCorp raised their price objective on Malibu Boats from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, April 23rd. BidaskClub lowered Malibu Boats from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 16th. ValuEngine raised Malibu Boats from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. SunTrust Banks reissued a “buy” rating and issued a $37.00 price objective on shares of Malibu Boats in a research report on Friday, February 9th. Finally, Zacks Investment Research raised Malibu Boats from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Tuesday, May 8th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $41.75.
Malibu Boats Company Profile
Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.
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