Malibu Boats, Inc. (NASDAQ:MBUU) Shares Sold by Vestcor Inc

Vestcor Inc lowered its position in Malibu Boats, Inc. (NASDAQ:MBUU) by 81.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,537 shares of the company’s stock after selling 6,720 shares during the quarter. Vestcor Inc’s holdings in Malibu Boats were worth $60,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Studio Investment Management LLC grew its stake in Malibu Boats by 264.4% during the 2nd quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock valued at $25,000 after purchasing an additional 513 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Malibu Boats in the 3rd quarter worth about $74,000. SG Americas Securities LLC bought a new position in shares of Malibu Boats during the second quarter worth about $139,000. Benjamin Edwards Inc. increased its holdings in Malibu Boats by 43.1% in the second quarter. Benjamin Edwards Inc. now owns 5,112 shares of the company’s stock valued at $179,000 after buying an additional 1,539 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in Malibu Boats by 851.7% during the 3rd quarter. US Bancorp DE now owns 5,434 shares of the company’s stock worth $211,000 after buying an additional 4,863 shares during the last quarter. 91.35% of the stock is currently owned by institutional investors and hedge funds.

Malibu Boats Stock Performance

Shares of MBUU opened at $42.21 on Friday. The firm has a market capitalization of $832.38 million, a PE ratio of -10.61 and a beta of 1.30. 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 firm has a 50-day moving average price of $42.41 and a 200 day moving average price of $38.40. Malibu Boats, Inc. has a 52-week low of $30.20 and a 52-week high of $56.03.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.16. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. The business had revenue of $171.60 million during the quarter, compared to analysts’ expectations of $165.33 million. During the same period last year, the firm posted $1.07 earnings per share. The business’s revenue was down 32.9% on a year-over-year basis. On average, sell-side analysts anticipate that Malibu Boats, Inc. will post 2.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MBUU has been the subject of a number of research reports. Benchmark reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a report on Friday, November 1st. Truist Financial increased their price target on Malibu Boats from $32.00 to $42.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. KeyCorp increased their target price on Malibu Boats from $38.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. DA Davidson cut shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a report on Friday, November 1st. Finally, StockNews.com raised shares of Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Malibu Boats presently has an average rating of “Hold” and a consensus target price of $44.57.

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.