Malibu Boats, Inc. (NASDAQ:MBUU) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in Malibu Boats, Inc. (NASDAQ:MBUU) by 43.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 77,581 shares of the company’s stock after selling 59,519 shares during the period. Allspring Global Investments Holdings LLC owned about 0.38% of Malibu Boats worth $4,253,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Millennium Management LLC purchased a new position in shares of Malibu Boats in the 2nd quarter valued at about $9,260,000. Invesco Ltd. raised its stake in shares of Malibu Boats by 272.7% during the 3rd quarter. Invesco Ltd. now owns 127,109 shares of the company’s stock worth $6,231,000 after buying an additional 93,004 shares during the period. Fort Washington Investment Advisors Inc. OH raised its stake in shares of Malibu Boats by 29.3% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 318,826 shares of the company’s stock worth $15,629,000 after buying an additional 72,330 shares during the period. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in Malibu Boats by 57.8% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 196,943 shares of the company’s stock worth $9,654,000 after acquiring an additional 72,120 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its position in Malibu Boats by 27.1% during the third quarter. Epoch Investment Partners Inc. now owns 267,168 shares of the company’s stock worth $13,097,000 after acquiring an additional 56,968 shares during the period. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats Stock Up 0.9 %

Shares of NASDAQ:MBUU opened at $34.48 on Friday. Malibu Boats, Inc. has a 52-week low of $33.78 and a 52-week high of $62.36. The stock has a market cap of $704.46 million, a P/E ratio of 11.05 and a beta of 1.37. The business has a fifty day moving average of $42.16 and a two-hundred day moving average of $46.36. The company has a quick ratio of 0.69, a current ratio of 1.82 and a debt-to-equity ratio of 0.06.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The firm had revenue of $211.07 million during the quarter, compared to analyst estimates of $219.64 million. During the same quarter in the prior year, the firm posted $1.78 earnings per share. Malibu Boats’s quarterly revenue was down 37.7% on a year-over-year basis. On average, research analysts expect that Malibu Boats, Inc. will post 2.55 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MBUU. KeyCorp cut their target price on shares of Malibu Boats from $58.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st. B. Riley decreased their target price on Malibu Boats from $45.00 to $39.00 and set a “neutral” rating on the stock in a research report on Tuesday. Raymond James cut Malibu Boats from an “outperform” rating to a “market perform” rating in a research report on Monday, April 15th. Robert W. Baird restated an “outperform” rating and issued a $54.00 price objective on shares of Malibu Boats in a report on Friday, January 19th. Finally, Truist Financial dropped their target price on shares of Malibu Boats from $62.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $49.00.

Insider Transactions at Malibu Boats

In other Malibu Boats news, insider Michael K. Hooks acquired 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were purchased at an average cost of $42.82 per share, for a total transaction of $535,250.00. Following the completion of the acquisition, the insider now owns 12,500 shares of the company’s stock, valued at approximately $535,250. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.62% of the company’s stock.

Malibu Boats Company Profile

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.