Strs Ohio Sells 8,700 Shares of Malibu Boats, Inc. (NASDAQ:MBUU)

Strs Ohio lowered its holdings in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 59.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,000 shares of the company’s stock after selling 8,700 shares during the period. Strs Ohio’s holdings in Malibu Boats were worth $328,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Malibu Boats by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,365,273 shares of the company’s stock worth $66,926,000 after purchasing an additional 35,474 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Malibu Boats by 0.7% in the third quarter. The Manufacturers Life Insurance Company now owns 427,697 shares of the company’s stock worth $20,966,000 after acquiring an additional 2,789 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in shares of Malibu Boats by 14.7% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 365,540 shares of the company’s stock worth $20,039,000 after acquiring an additional 46,714 shares during the last quarter. Epoch Investment Partners Inc. grew its stake in shares of Malibu Boats by 27.1% in the third quarter. Epoch Investment Partners Inc. now owns 267,168 shares of the company’s stock worth $13,097,000 after acquiring an additional 56,968 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of Malibu Boats by 57.8% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 196,943 shares of the company’s stock worth $9,654,000 after purchasing an additional 72,120 shares during the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MBUU. KeyCorp cut their price objective on shares of Malibu Boats from $58.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 31st. StockNews.com upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Truist Financial dropped their price objective on Malibu Boats from $62.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Raymond James downgraded Malibu Boats from an “outperform” rating to a “market perform” rating in a report on Monday, April 15th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $54.00 target price on shares of Malibu Boats in a research report on Friday, January 19th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Malibu Boats currently has an average rating of “Hold” and a consensus target price of $49.00.

Malibu Boats Stock Performance

MBUU opened at $34.79 on Tuesday. The company has a 50 day simple moving average of $40.22 and a two-hundred day simple moving average of $45.60. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.82 and a quick ratio of 0.69. The firm has a market cap of $710.76 million, a P/E ratio of 11.15 and a beta of 1.37. Malibu Boats, Inc. has a 1-year low of $32.90 and a 1-year high of $62.36.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Tuesday, January 30th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The company had revenue of $211.07 million for the quarter, compared to analysts’ expectations of $219.64 million. During the same quarter in the previous year, the company earned $1.78 EPS. Malibu Boats’s revenue for the quarter was down 37.7% on a year-over-year basis. Equities analysts forecast that Malibu Boats, Inc. will post 2.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Malibu Boats

In other Malibu Boats news, insider Michael K. Hooks acquired 12,500 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was purchased at an average price of $42.82 per share, with a total value of $535,250.00. Following the completion of the purchase, the insider now directly owns 12,500 shares in the company, valued at approximately $535,250. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.62% of the company’s stock.

Malibu Boats Company 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.