GSA Capital Partners LLP Purchases New Shares in Malibu Boats, Inc. $MBUU

GSA Capital Partners LLP acquired a new position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 32,089 shares of the company’s stock, valued at approximately $1,041,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its position in Malibu Boats by 31.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,312 shares of the company’s stock valued at $43,000 after acquiring an additional 313 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Malibu Boats by 43.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock valued at $67,000 after purchasing an additional 643 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Malibu Boats by 346.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company’s stock valued at $73,000 after purchasing an additional 1,801 shares during the period. Strs Ohio acquired a new position in shares of Malibu Boats in the first quarter valued at approximately $123,000. Finally, Corton Capital Inc. purchased a new stake in shares of Malibu Boats during the second quarter worth approximately $211,000. 91.35% of the stock is owned by hedge funds and other institutional investors.

Malibu Boats Price Performance

Shares of NASDAQ MBUU opened at $31.40 on Friday. The company has a current ratio of 1.56, a quick ratio of 0.49 and a debt-to-equity ratio of 0.04. Malibu Boats, Inc. has a 52 week low of $24.07 and a 52 week high of $39.65. The stock has a market cap of $584.04 million, a price-to-earnings ratio of 43.01 and a beta of 1.22. The company’s 50-day moving average price is $31.22 and its 200 day moving average price is $31.23.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, February 5th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The firm had revenue of $188.62 million during the quarter, compared to analysts’ expectations of $181.96 million. Malibu Boats had a return on equity of 4.25% and a net margin of 1.76%.The firm’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 EPS. As a group, research analysts forecast that Malibu Boats, Inc. will post 1.69 earnings per share for the current fiscal year.

Malibu Boats declared that its board has approved a share repurchase program on Friday, December 19th that permits the company to buyback $70.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 12.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MBUU shares. Loop Capital began coverage on shares of Malibu Boats in a research report on Monday, December 22nd. They issued a “buy” rating and a $34.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Malibu Boats in a report on Monday, December 29th. Truist Financial boosted their price target on shares of Malibu Boats from $30.00 to $37.00 and gave the stock a “hold” rating in a research note on Tuesday, October 28th. Wall Street Zen cut Malibu Boats from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Finally, B. Riley Financial decreased their price target on Malibu Boats from $33.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 25th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $32.80.

About Malibu Boats

Malibu Boats, Inc is a leading designer, manufacturer and distributor of performance sport boats for the recreational boating market. The company’s product portfolio includes the premium Malibu® brand and the value-oriented Axis® Wake Research line, as well as Cobalt® boats following its 2020 acquisition. Malibu’s vessels are engineered to serve water-sports enthusiasts, with models optimized for wakeboarding, wakesurfing and waterskiing.

Founded in 1982 by water-sports enthusiast Jack Springer, Malibu Boats is headquartered in Loudon, Tennessee.