Chartwell Investment Partners LLC Buys Shares of 80,709 Malibu Boats, Inc. (NASDAQ:MBUU)

Chartwell Investment Partners LLC bought a new stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 80,709 shares of the company’s stock, valued at approximately $3,132,000. Chartwell Investment Partners LLC owned approximately 0.40% of Malibu Boats as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE raised its position in Malibu Boats by 851.7% during the 3rd quarter. US Bancorp DE now owns 5,434 shares of the company’s stock valued at $211,000 after purchasing an additional 4,863 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Malibu Boats by 37.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 114,525 shares of the company’s stock worth $4,445,000 after acquiring an additional 31,026 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Malibu Boats in the 3rd quarter worth $74,000. Creative Planning bought a new position in shares of Malibu Boats in the 3rd quarter worth $223,000. Finally, SG Americas Securities LLC raised its position in shares of Malibu Boats by 31.6% in the 3rd quarter. SG Americas Securities LLC now owns 5,212 shares of the company’s stock worth $202,000 after acquiring an additional 1,252 shares in the last quarter. 91.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MBUU. Benchmark restated a “buy” rating and set a $44.00 target price on shares of Malibu Boats in a research note on Friday, November 1st. DA Davidson downgraded Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research note on Friday, November 1st. Robert W. Baird boosted their target price on Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. StockNews.com upgraded Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. Finally, Truist Financial boosted their price target on Malibu Boats from $32.00 to $42.00 and gave the company a “hold” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Malibu Boats has an average rating of “Hold” and a consensus target price of $44.57.

Malibu Boats Stock Down 4.9 %

Shares of MBUU opened at $41.63 on Wednesday. Malibu Boats, Inc. has a 52 week low of $30.20 and a 52 week high of $56.03. The company has a quick ratio of 0.52, a current ratio of 1.55 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $820.94 million, a price-to-earnings ratio of -10.46 and a beta of 1.36. The stock’s 50-day moving average price is $40.25 and its 200-day moving average price is $37.16.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Thursday, October 31st. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.16. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The firm had revenue of $171.60 million for the quarter, compared to the consensus estimate of $165.33 million. During the same quarter in the prior year, the business earned $1.07 earnings per share. The company’s revenue was down 32.9% compared to the same quarter last year. On average, sell-side analysts predict that Malibu Boats, Inc. will post 2.01 EPS for the current year.

Malibu Boats 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.