Meros Investment Management LP Has $4.45 Million Stock Holdings in Malibu Boats, Inc. $MBUU

Meros Investment Management LP increased its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 16.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 157,875 shares of the company’s stock after purchasing an additional 22,782 shares during the period. Malibu Boats makes up about 1.8% of Meros Investment Management LP’s portfolio, making the stock its 28th biggest holding. Meros Investment Management LP’s holdings in Malibu Boats were worth $4,454,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Intesa Sanpaolo Wealth Management acquired a new stake in shares of Malibu Boats during the 4th quarter worth approximately $31,000. BNP Paribas Financial Markets boosted its position in shares of Malibu Boats by 43.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock worth $67,000 after acquiring an additional 643 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Malibu Boats by 346.3% in the 2nd 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 last quarter. Strs Ohio bought a new position in Malibu Boats in the 1st quarter valued at approximately $123,000. Finally, Central Pacific Bank Trust Division lifted its stake in Malibu Boats by 36.0% in the 4th quarter. Central Pacific Bank Trust Division now owns 4,618 shares of the company’s stock valued at $130,000 after purchasing an additional 1,223 shares during the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats Price Performance

Shares of NASDAQ:MBUU opened at $27.69 on Tuesday. Malibu Boats, Inc. has a 52 week low of $23.84 and a 52 week high of $39.65. The firm’s fifty day moving average is $26.53 and its 200-day moving average is $28.46. The firm has a market cap of $543.83 million, a PE ratio of -461.50 and a beta of 1.14. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.44 and a current ratio of 1.31.

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

Analysts Set New Price Targets

Several brokerages recently commented on MBUU. Zacks Research raised shares of Malibu Boats from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 10th. DA Davidson reissued a “neutral” rating and issued a $30.00 price objective on shares of Malibu Boats in a research note on Monday. Weiss Ratings downgraded shares of Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Truist Financial dropped their price target on shares of Malibu Boats from $34.00 to $31.00 and set a “hold” rating for the company in a research note on Monday, April 27th. Finally, Griffin Securities set a $30.00 price target on shares of Malibu Boats in a report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Malibu Boats has a consensus rating of “Hold” and a consensus price target of $31.00.

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.