Hood River Capital Management LLC raised its holdings in Malibu Boats, Inc. (NASDAQ:MBUU) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 418,103 shares of the company’s stock after purchasing an additional 9,461 shares during the quarter. Hood River Capital Management LLC owned 2.06% of Malibu Boats worth $13,229,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in MBUU. Russell Investments Group Ltd. lifted its position in shares of Malibu Boats by 3.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 55,860 shares of the company’s stock valued at $1,767,000 after acquiring an additional 1,735 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Malibu Boats by 36.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 162,357 shares of the company’s stock valued at $5,137,000 after acquiring an additional 43,140 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Malibu Boats by 138.9% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 19,504 shares of the company’s stock valued at $617,000 after acquiring an additional 11,341 shares during the period. Sei Investments Co. lifted its position in shares of Malibu Boats by 170.9% during the 3rd quarter. Sei Investments Co. now owns 36,323 shares of the company’s stock valued at $1,149,000 after acquiring an additional 22,913 shares during the period. Finally, Cavalier Investments LLC acquired a new position in shares of Malibu Boats during the 3rd quarter worth approximately $318,000. 91.09% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on MBUU. ValuEngine downgraded Malibu Boats from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. BMO Capital Markets reiterated a “buy” rating and issued a $32.00 price target on shares of Malibu Boats in a report on Friday, October 13th. Aegis assumed coverage on Malibu Boats in a report on Monday, October 2nd. They issued a “buy” rating and a $37.00 price target for the company. KeyCorp reiterated a “buy” rating and issued a $31.00 price target on shares of Malibu Boats in a report on Friday, October 20th. Finally, B. Riley reiterated a “neutral” rating and issued a $29.50 price target (up from $25.50) on shares of Malibu Boats in a report on Monday, November 6th. Two equities 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. Malibu Boats currently has an average rating of “Buy” and an average price target of $32.31.
Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Thursday, September 7th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. Malibu Boats had a net margin of 9.42% and a return on equity of 54.78%. The company had revenue of $75.11 million during the quarter, compared to analysts’ expectations of $73.35 million. During the same period in the previous year, the company earned $0.38 EPS. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. research analysts anticipate that Malibu Boats, Inc. will post 1.91 earnings per share for the current year.
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In other news, CEO Jackie D. Jr. Springer sold 40,000 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $27.76, for a total transaction of $1,110,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.50% of the stock is owned by insiders.
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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