Malibu Boats, Inc. (NASDAQ:MBUU) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 98.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,346 shares of the company’s stock after selling 626,944 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Malibu Boats were worth $276,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MBUU. Heck Capital Advisors LLC acquired a new position in shares of Malibu Boats during the fourth quarter worth about $38,000. Quarry LP acquired a new position in shares of Malibu Boats during the fourth quarter worth about $45,000. KLP Kapitalforvaltning AS acquired a new position in shares of Malibu Boats during the fourth quarter worth about $150,000. Tower Research Capital LLC TRC grew its position in shares of Malibu Boats by 518.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,966 shares of the company’s stock worth $224,000 after buying an additional 5,001 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Malibu Boats in the fourth quarter valued at approximately $235,000. 91.35% of the stock is owned by institutional investors and hedge funds.

Malibu Boats Price Performance

Shares of NASDAQ MBUU opened at $32.21 on Monday. The company has a current ratio of 1.52, a quick ratio of 0.45 and a debt-to-equity ratio of 0.04. Malibu Boats, Inc. has a twelve month low of $24.43 and a twelve month high of $47.82. The stock has a 50 day moving average of $29.25 and a two-hundred day moving average of $35.24. The stock has a market cap of $618.14 million, a P/E ratio of -7.40 and a beta of 1.23.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. Malibu Boats had a positive return on equity of 1.04% and a negative net margin of 12.09%. The company had revenue of $228.66 million during the quarter, compared to analysts’ expectations of $226.44 million. During the same quarter in the previous year, the business earned $0.63 earnings per share. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, research analysts forecast that Malibu Boats, Inc. will post 1.69 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Robert W. Baird reaffirmed a “neutral” rating and issued a $32.00 price target (down from $50.00) on shares of Malibu Boats in a report on Friday, April 4th. Baird R W downgraded Malibu Boats from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Benchmark reaffirmed a “buy” rating and issued a $44.00 price target on shares of Malibu Boats in a report on Tuesday, February 4th. Truist Financial lowered their price target on Malibu Boats from $38.00 to $28.00 and set a “hold” rating for the company in a report on Monday, April 14th. Finally, KeyCorp downgraded Malibu Boats from an “overweight” rating to a “sector weight” rating in a report on Thursday, March 20th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Malibu Boats presently has a consensus rating of “Hold” and an average price target of $38.17.

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.