Creative Planning Takes Position in Malibu Boats, Inc. (NASDAQ:MBUU)

Creative Planning acquired a new position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,756 shares of the company’s stock, valued at approximately $223,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. SG Americas Securities LLC raised its holdings in Malibu Boats by 31.6% during the 3rd quarter. SG Americas Securities LLC now owns 5,212 shares of the company’s stock worth $202,000 after purchasing an additional 1,252 shares during the last quarter. Truist Financial Corp increased its position in shares of Malibu Boats by 35.6% during the second quarter. Truist Financial Corp now owns 8,448 shares of the company’s stock worth $296,000 after buying an additional 2,219 shares during the period. The Manufacturers Life Insurance Company raised its stake in Malibu Boats by 94.4% during the second quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock worth $29,560,000 after buying an additional 409,574 shares during the last quarter. AQR Capital Management LLC raised its stake in Malibu Boats by 267.9% during the second quarter. AQR Capital Management LLC now owns 88,294 shares of the company’s stock worth $3,094,000 after buying an additional 64,297 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in Malibu Boats by 10.4% in the second quarter. Bank of Montreal Can now owns 12,427 shares of the company’s stock valued at $442,000 after buying an additional 1,170 shares during the period. 91.35% of the stock is owned by institutional investors and hedge funds.

Malibu Boats Trading Down 2.2 %

Shares of NASDAQ:MBUU opened at $43.96 on Monday. The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. Malibu Boats, Inc. has a 52-week low of $30.20 and a 52-week high of $56.03. The business’s 50 day simple moving average is $39.99 and its two-hundred day simple moving average is $37.03.

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

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Benchmark reiterated a “buy” rating and set a $44.00 price target on shares of Malibu Boats in a report on Friday, November 1st. Robert W. Baird raised 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. KeyCorp lifted their target price on Malibu Boats from $38.00 to $50.00 and gave the stock an “overweight” rating 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 report on Friday, November 1st. Finally, DA Davidson downgraded shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research report on Friday, November 1st. One equities 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 data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $44.57.

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.