Malibu Boats Inc (NASDAQ:MBUU) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totalling 808,100 shares, an increase of 59.5% from the September 15th total of 506,800 shares. Based on an average daily volume of 262,700 shares, the short-interest ratio is presently 3.1 days. Currently, 4.0% of the company’s stock are short sold.
A number of institutional investors have recently modified their holdings of MBUU. Advisor Group Inc. raised its position in shares of Malibu Boats by 111.1% in the 2nd quarter. Advisor Group Inc. now owns 859 shares of the company’s stock valued at $33,000 after buying an additional 452 shares in the last quarter. Aperio Group LLC bought a new stake in shares of Malibu Boats during the 2nd quarter valued at approximately $36,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Malibu Boats during the 2nd quarter valued at approximately $68,000. First Quadrant L P CA bought a new stake in shares of Malibu Boats during the 3rd quarter valued at approximately $196,000. Finally, Meeder Asset Management Inc. grew its holdings in shares of Malibu Boats by 792.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 7,115 shares of the company’s stock valued at $219,000 after purchasing an additional 6,318 shares during the last quarter.
Shares of MBUU stock traded up $1.22 during midday trading on Monday, hitting $34.58. 256,000 shares of the company were exchanged, compared to its average volume of 222,270. The firm has a market capitalization of $670.22 million, a P/E ratio of 9.42, a PEG ratio of 0.86 and a beta of 1.79. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.79 and a current ratio of 1.69. The firm’s 50 day moving average price is $31.24 and its two-hundred day moving average price is $34.54. Malibu Boats has a 52 week low of $24.79 and a 52 week high of $50.89.
Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, August 29th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.93 by $0.15. Malibu Boats had a net margin of 9.66% and a return on equity of 44.28%. The business had revenue of $194.82 million during the quarter, compared to the consensus estimate of $185.75 million. During the same quarter in the previous year, the firm posted $0.76 EPS. Malibu Boats’s revenue was up 40.5% compared to the same quarter last year. Analysts expect that Malibu Boats will post 3.82 EPS for the current year.
A number of research analysts recently weighed in on the stock. ValuEngine raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. B. Riley decreased their target price on shares of Malibu Boats from $62.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. BidaskClub raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Zacks Investment Research raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, KeyCorp decreased their target price on shares of Malibu Boats from $53.00 to $48.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Malibu Boats currently has an average rating of “Buy” and an average target price of $47.83.
About Malibu Boats
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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