Inceptionr LLC Buys Shares of 20,565 Malibu Boats, Inc. $MBUU

Inceptionr LLC purchased a new stake in Malibu Boats, Inc. (NASDAQ:MBUU) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,565 shares of the company’s stock, valued at approximately $533,000. Inceptionr LLC owned 0.10% of Malibu Boats at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC boosted its position in shares of Malibu Boats by 25.3% during the 1st quarter. AQR Capital Management LLC now owns 11,815 shares of the company’s stock valued at $362,000 after acquiring an additional 2,389 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Malibu Boats by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,590 shares of the company’s stock worth $356,000 after purchasing an additional 491 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Malibu Boats by 8.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 57,132 shares of the company’s stock worth $1,753,000 after purchasing an additional 4,496 shares during the period. Strs Ohio bought a new position in Malibu Boats during the first quarter worth about $123,000. Finally, Creative Planning boosted its holdings in Malibu Boats by 5.0% during the second quarter. Creative Planning now owns 9,471 shares of the company’s stock valued at $297,000 after purchasing an additional 453 shares in the last quarter. Institutional investors own 91.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Truist Financial lifted their target price on shares of Malibu Boats from $31.00 to $34.00 and gave the company a “hold” rating in a research note on Monday, July 6th. DA Davidson reissued a “neutral” rating and issued a $30.00 target price on shares of Malibu Boats in a report on Monday, June 15th. Zacks Research lowered Malibu Boats from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th. Finally, Weiss Ratings cut Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Malibu Boats currently has a consensus rating of “Hold” and an average target price of $31.60.

Malibu Boats Price Performance

Malibu Boats stock opened at $27.70 on Friday. The firm has a market capitalization of $544.03 million, a P/E ratio of -461.67 and a beta of 1.14. Malibu Boats, Inc. has a 1 year low of $23.84 and a 1 year high of $39.65. The business has a 50-day moving average of $27.15 and a 200-day moving average of $28.10. The company has a current ratio of 1.31, a quick ratio of 0.44 and a debt-to-equity ratio of 0.32.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, May 7th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $235.70 million for the quarter, compared to analyst estimates of $203.46 million. During the same period last year, the business posted $0.72 earnings per share. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities analysts anticipate that Malibu Boats, Inc. will post 1.34 EPS for the current 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.