Kornitzer Capital Management Inc. KS Trims Stake in Malibu Boats, Inc. (NASDAQ:MBUU)

Kornitzer Capital Management Inc. KS lowered its stake in Malibu Boats, Inc. (NASDAQ:MBUU) by 32.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,900 shares of the company’s stock after selling 8,700 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Malibu Boats were worth $981,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cooke & Bieler LP lifted its stake in Malibu Boats by 35.2% in the 4th quarter. Cooke & Bieler LP now owns 920,761 shares of the company’s stock valued at $50,476,000 after buying an additional 239,707 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Malibu Boats by 58.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,272 shares of the company’s stock worth $344,000 after purchasing an additional 2,306 shares during the period. VELA Investment Management LLC purchased a new position in shares of Malibu Boats during the 4th quarter worth $425,000. Kendall Capital Management lifted its stake in shares of Malibu Boats by 56.3% during the 4th quarter. Kendall Capital Management now owns 10,283 shares of the company’s stock worth $564,000 after purchasing an additional 3,705 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in shares of Malibu Boats during the 4th quarter worth $48,000. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Trading Up 0.9 %

MBUU stock opened at $34.48 on Monday. The company has a market cap of $704.43 million, a price-to-earnings ratio of 11.05 and a beta of 1.37. The company has a quick ratio of 0.69, a current ratio of 1.82 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $41.87 and a 200-day simple moving average of $46.24. Malibu Boats, Inc. has a 52 week low of $33.78 and a 52 week high of $62.36.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.10. Malibu Boats had a return on equity of 24.23% and a net margin of 5.32%. The firm had revenue of $211.07 million during the quarter, compared to the consensus estimate of $219.64 million. During the same period in the prior year, the firm earned $1.78 EPS. The firm’s quarterly revenue was down 37.7% compared to the same quarter last year. On average, equities research analysts expect that Malibu Boats, Inc. will post 2.55 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MBUU shares. Robert W. Baird reissued an “outperform” rating and set a $54.00 price target on shares of Malibu Boats in a research note on Friday, January 19th. StockNews.com raised Malibu Boats from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Truist Financial reduced their price target on Malibu Boats from $62.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. B. Riley dropped their price objective on Malibu Boats from $45.00 to $39.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Finally, KeyCorp dropped their price objective on Malibu Boats from $58.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Malibu Boats currently has a consensus rating of “Hold” and an average price target of $49.00.

Insider Activity at Malibu Boats

In other Malibu Boats news, insider Michael K. Hooks bought 12,500 shares of the stock in a transaction dated Thursday, February 22nd. The stock was bought at an average cost of $42.82 per share, for a total transaction of $535,250.00. Following the completion of the purchase, the insider now directly owns 12,500 shares of the company’s stock, valued at $535,250. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.62% of the stock is owned by insiders.

About Malibu Boats

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.