Bank of America Corp DE Has $11.39 Million Stake in Malibu Boats, Inc. (NASDAQ:MBUU)

Bank of America Corp DE boosted its stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 20.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 302,864 shares of the company’s stock after buying an additional 52,160 shares during the quarter. Bank of America Corp DE owned approximately 1.54% of Malibu Boats worth $11,385,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MBUU. Twin Lions Management LLC acquired a new position in Malibu Boats during the 4th quarter worth about $19,807,000. Bank of New York Mellon Corp lifted its holdings in Malibu Boats by 370.5% during the 4th quarter. Bank of New York Mellon Corp now owns 440,829 shares of the company’s stock worth $16,571,000 after buying an additional 347,144 shares during the period. Lodge Hill Capital LLC lifted its holdings in Malibu Boats by 74.6% during the 4th quarter. Lodge Hill Capital LLC now owns 530,514 shares of the company’s stock worth $19,942,000 after buying an additional 226,650 shares during the period. Raymond James Financial Inc. acquired a new position in Malibu Boats during the 4th quarter worth about $8,221,000. Finally, Schroder Investment Management Group acquired a new position in Malibu Boats during the 4th quarter worth about $6,888,000. 91.35% of the stock is owned by institutional investors and hedge funds.

Malibu Boats Stock Down 0.1%

Shares of NASDAQ:MBUU opened at $30.03 on Friday. The company has a market capitalization of $576.31 million, a price-to-earnings ratio of -6.90 and a beta of 1.23. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 0.45. The business’s 50-day moving average is $29.24 and its 200-day moving average is $35.02. Malibu Boats, Inc. has a 1 year low of $24.43 and a 1 year high of $47.82.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.72 earnings per share for the quarter, topping 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 business had revenue of $228.66 million for the quarter, compared to the consensus estimate of $226.44 million. During the same period in the prior year, the business earned $0.63 EPS. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. Equities research analysts predict that Malibu Boats, Inc. will post 1.69 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Benchmark reaffirmed a “buy” rating and set a $44.00 target price on shares of Malibu Boats in a report on Tuesday, February 4th. DA Davidson raised Malibu Boats to a “hold” rating in a report on Monday, April 14th. Wall Street Zen raised Malibu Boats from a “sell” rating to a “hold” rating in a research note on Tuesday, April 15th. B. Riley raised Malibu Boats to a “hold” rating in a research note on Wednesday, February 12th. Finally, Baird R W downgraded Malibu Boats from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.