Malibu Boats, Inc. $MBUU Shares Bought by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH lifted its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 4.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 694,763 shares of the company’s stock after buying an additional 29,390 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Malibu Boats were worth $18,008,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of MBUU. Wellington Management Group LLP increased its stake in Malibu Boats by 27.1% in the 4th quarter. Wellington Management Group LLP now owns 1,688,099 shares of the company’s stock valued at $47,621,000 after purchasing an additional 359,550 shares in the last quarter. Bank of America Corp DE grew its holdings in Malibu Boats by 31.5% in the second quarter. Bank of America Corp DE now owns 361,357 shares of the company’s stock valued at $11,325,000 after purchasing an additional 86,526 shares during the last quarter. Twin Lions Management LLC grew its holdings in Malibu Boats by 8.2% in the fourth quarter. Twin Lions Management LLC now owns 1,138,053 shares of the company’s stock valued at $32,104,000 after purchasing an additional 85,951 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Malibu Boats by 24.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 429,732 shares of the company’s stock valued at $12,123,000 after buying an additional 85,422 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Malibu Boats by 37.2% in the third quarter. Ameriprise Financial Inc. now owns 310,388 shares of the company’s stock valued at $10,072,000 after buying an additional 84,146 shares in the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.

Analyst Upgrades and Downgrades

MBUU has been the subject of several research reports. Zacks Research raised Malibu Boats from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 10th. Griffin Securities set a $30.00 target price on shares of Malibu Boats in a report on Tuesday, March 3rd. Truist Financial cut their target price on shares of Malibu Boats from $34.00 to $31.00 and set a “hold” rating for the company in a research report on Monday, April 27th. Weiss Ratings cut shares of Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Finally, Wall Street Zen raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $31.00.

Malibu Boats Stock Performance

NASDAQ MBUU opened at $28.75 on Monday. Malibu Boats, Inc. has a fifty-two week low of $23.84 and a fifty-two week high of $39.65. The stock has a market cap of $564.56 million, a price-to-earnings ratio of -479.17 and a beta of 1.14. The business has a fifty day moving average of $26.96 and a 200-day moving average of $28.40. The company has a quick ratio of 0.44, a current ratio of 1.31 and a debt-to-equity ratio of 0.32.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.27. The business had revenue of $235.70 million for the quarter, compared to the consensus estimate of $203.46 million. Malibu Boats had a positive return on equity of 3.28% and a negative net margin of 0.11%.The business’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 earnings per share. As a group, analysts predict that Malibu Boats, Inc. will post 1.37 earnings per share for the current fiscal year.

Malibu Boats Profile

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.