Vanguard Group Inc. increased its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 10.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 893,667 shares of the company’s stock after acquiring an additional 86,128 shares during the period. Vanguard Group Inc. owned about 4.98% of Malibu Boats worth $23,120,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of MBUU. Bank of New York Mellon Corp grew its position in Malibu Boats by 65.1% during the 1st 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. grew its position in Malibu Boats by 7.1% during the 1st quarter. American International Group Inc. now owns 11,115 shares of the company’s stock worth $250,000 after acquiring an additional 733 shares during the last quarter. Teachers Advisors LLC grew its position in Malibu Boats by 15.7% during the 1st quarter. Teachers Advisors LLC now owns 38,933 shares of the company’s stock worth $874,000 after acquiring an additional 5,282 shares during the last quarter. TIAA CREF Investment Management LLC grew its position in Malibu Boats by 43.1% during the 1st quarter. TIAA CREF Investment Management LLC now owns 79,926 shares of the company’s stock worth $1,794,000 after acquiring an additional 24,062 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in Malibu Boats by 5.8% during the 1st quarter. California Public Employees Retirement System now owns 67,400 shares of the company’s stock worth $1,513,000 after acquiring an additional 3,700 shares during the last quarter. Institutional investors and hedge funds own 91.09% of the company’s stock.
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In other news, CEO Jackie D. Jr. Springer sold 40,000 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $27.76, for a total value of $1,110,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.50% of the stock is currently owned by insiders.
Malibu Boats, Inc. (NASDAQ MBUU) opened at $28.06 on Tuesday. The company has a market capitalization of $566.40, a PE ratio of 16.55, a price-to-earnings-growth ratio of 0.97 and a beta of 1.02. Malibu Boats, Inc. has a twelve month low of $16.66 and a twelve month high of $33.35. The company has a current ratio of 1.46, a quick ratio of 0.71 and a debt-to-equity ratio of 0.94.
Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, September 7th. The company reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 54.78% and a net margin of 9.42%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 EPS. equities analysts anticipate that Malibu Boats, Inc. will post 1.91 earnings per share for the current fiscal year.
A number of brokerages recently weighed in on MBUU. ValuEngine lowered Malibu Boats from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. BMO Capital Markets restated a “buy” rating and set a $32.00 price objective on shares of Malibu Boats in a research report on Friday, October 13th. SunTrust Banks, Inc. restated a “buy” rating and set a $34.00 price objective on shares of Malibu Boats in a research report on Friday. B. Riley restated a “neutral” rating and set a $29.50 price objective (up previously from $25.50) on shares of Malibu Boats in a research report on Monday, November 6th. Finally, BidaskClub lowered Malibu Boats from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 5th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Malibu Boats has a consensus rating of “Buy” and an average target price of $32.31.
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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