Ameriprise Financial Inc. Buys 815 Shares of Malibu Boats, Inc. (NASDAQ:MBUU)

Ameriprise Financial Inc. increased its holdings in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 123,094 shares of the company’s stock after acquiring an additional 815 shares during the period. Ameriprise Financial Inc. owned about 0.63% of Malibu Boats worth $4,627,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MBUU. Heck Capital Advisors LLC bought a new position in Malibu Boats in the 4th quarter valued at $38,000. Quarry LP acquired a new position in shares of Malibu Boats in the 4th quarter valued at approximately $45,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Malibu Boats during the fourth quarter worth $150,000. Tower Research Capital LLC TRC grew its holdings 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 during the fourth quarter worth $235,000. 91.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MBUU has been the subject of a number of recent analyst reports. B. Riley raised Malibu Boats to a “hold” rating in a research report on Wednesday, February 12th. Baird R W downgraded Malibu Boats from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Truist Financial cut their price objective on Malibu Boats from $38.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Benchmark reissued a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a research note on Tuesday, February 4th. Finally, Robert W. Baird reissued a “neutral” rating and set a $32.00 target price (down previously from $50.00) on shares of Malibu Boats in a research note on Friday, April 4th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $38.17.

Malibu Boats Stock Performance

NASDAQ MBUU opened at $29.57 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. The company has a fifty day simple moving average of $29.22 and a 200 day simple moving average of $34.78. The company has a market cap of $567.48 million, a P/E ratio of -6.80 and a beta of 1.23. Malibu Boats, Inc. has a 12-month low of $24.43 and a 12-month high of $47.82.

Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, May 8th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.66 by $0.06. The company had revenue of $228.66 million during the quarter, compared to the consensus estimate of $226.44 million. Malibu Boats had a negative net margin of 12.09% and a positive return on equity of 1.04%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 earnings per share. Sell-side analysts predict that Malibu Boats, Inc. will post 1.69 earnings per share for the current fiscal 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.