Bank of New York Mellon Corp trimmed its position in shares of Malibu Boats Inc (NASDAQ:MBUU) by 12.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,393 shares of the company’s stock after selling 18,765 shares during the period. Bank of New York Mellon Corp owned approximately 0.66% of Malibu Boats worth $7,409,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in MBUU. First Hawaiian Bank acquired a new position in Malibu Boats during the third quarter worth $235,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Malibu Boats during the third quarter worth $197,000. Engineers Gate Manager LP lifted its stake in Malibu Boats by 171.2% during the third quarter. Engineers Gate Manager LP now owns 40,446 shares of the company’s stock worth $2,213,000 after purchasing an additional 25,535 shares in the last quarter. Smith Asset Management Group LP lifted its stake in Malibu Boats by 4.5% during the third quarter. Smith Asset Management Group LP now owns 72,230 shares of the company’s stock worth $3,952,000 after purchasing an additional 3,080 shares in the last quarter. Finally, Cadence Capital Management LLC lifted its stake in Malibu Boats by 20.0% during the third quarter. Cadence Capital Management LLC now owns 44,887 shares of the company’s stock worth $2,456,000 after purchasing an additional 7,493 shares in the last quarter. Institutional investors own 95.09% of the company’s stock.
A number of research firms have commented on MBUU. Zacks Investment Research cut Malibu Boats from a “buy” rating to a “hold” rating in a research note on Wednesday, January 9th. BidaskClub raised Malibu Boats from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Wells Fargo & Co cut their price objective on Malibu Boats from $58.00 to $45.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 18th. Finally, ValuEngine raised Malibu Boats from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $53.86.
Malibu Boats stock opened at $44.45 on Friday. Malibu Boats Inc has a twelve month low of $31.01 and a twelve month high of $59.57. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.43 and a current ratio of 1.54. The firm has a market cap of $932.85 million, a PE ratio of 17.64, a P/E/G ratio of 0.90 and a beta of 1.78.
Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Wednesday, February 6th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. Malibu Boats had a return on equity of 45.92% and a net margin of 9.44%. The business had revenue of $165.80 million for the quarter, compared to analyst estimates of $149.82 million. During the same quarter in the prior year, the company earned $0.53 earnings per share. The company’s revenue was up 44.9% on a year-over-year basis. Analysts predict that Malibu Boats Inc will post 3.32 EPS for the current year.
In other news, COO Ritchie L. Anderson sold 12,036 shares of the company’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $45.85, for a total transaction of $551,850.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Wayne R. Wilson sold 10,466 shares of the company’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $48.36, for a total value of $506,135.76. The disclosure for this sale can be found here. 3.35% of the stock is currently owned by corporate insiders.
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About Malibu Boats
Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.
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