State Street Corp Sells 1,901 Shares of Malibu Boats, Inc. (NASDAQ:MBUU)

State Street Corp trimmed its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 460,234 shares of the company’s stock after selling 1,901 shares during the quarter. State Street Corp owned about 2.33% of Malibu Boats worth $17,862,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Studio Investment Management LLC lifted its holdings in shares of 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 during the last quarter. nVerses Capital LLC acquired a new position in Malibu Boats during the 3rd quarter valued at about $74,000. SG Americas Securities LLC purchased a new stake in Malibu Boats in the second quarter valued at about $139,000. Benjamin Edwards Inc. boosted 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 worth $179,000 after acquiring an additional 1,539 shares in the last quarter. Finally, US Bancorp DE grew its stake in shares of Malibu Boats by 851.7% during the third quarter. US Bancorp DE now owns 5,434 shares of the company’s stock worth $211,000 after acquiring an additional 4,863 shares during the last quarter. 91.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Benchmark reaffirmed a “buy” rating and issued a $44.00 price target on shares of Malibu Boats in a report on Friday, November 1st. DA Davidson lowered Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 target price for the company. in a research note on Friday, November 1st. Robert W. Baird lifted their price target on Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. KeyCorp increased their price objective on Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Truist Financial lifted their target price on Malibu Boats from $32.00 to $42.00 and gave the stock a “hold” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $44.57.

Malibu Boats Trading Down 1.4 %

Shares of MBUU stock opened at $36.92 on Tuesday. Malibu Boats, Inc. has a 1-year low of $30.20 and a 1-year high of $56.03. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.55 and a quick ratio of 0.52. The company has a 50-day moving average of $42.23 and a two-hundred day moving average of $38.45. The firm has a market cap of $727.88 million, a PE ratio of -9.28 and a beta of 1.30.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data 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. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The business had revenue of $171.60 million for the quarter, compared to analyst estimates of $165.33 million. During the same quarter in the prior year, the company earned $1.07 earnings per share. The company’s revenue was down 32.9% on a year-over-year basis. On average, analysts predict that Malibu Boats, Inc. will post 2.01 EPS for the current year.

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.