Malibu Boats, Inc. (NASDAQ:MBUU) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 11.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,051 shares of the company’s stock after selling 1,879 shares during the quarter. Millennium Management LLC owned 0.08% of Malibu Boats worth $566,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Quarry LP purchased a new stake in Malibu Boats during the 4th quarter worth about $45,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Malibu Boats in the fourth quarter valued at $150,000. Tower Research Capital LLC TRC boosted its holdings in shares of Malibu Boats by 518.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,966 shares of the company’s stock valued at $224,000 after purchasing an additional 5,001 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Malibu Boats during the 4th quarter worth approximately $235,000. Finally, Vestcor Inc increased its holdings in Malibu Boats by 317.0% in the 4th quarter. Vestcor Inc now owns 6,410 shares of the company’s stock valued at $241,000 after purchasing an additional 4,873 shares in the last quarter. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

Malibu Boats Stock Up 1.0%

Shares of MBUU stock opened at $31.48 on Monday. Malibu Boats, Inc. has a twelve month low of $24.43 and a twelve month high of $47.82. The company has a market capitalization of $604.13 million, a price-to-earnings ratio of -7.24 and a beta of 1.15. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52. The stock’s 50 day simple moving average is $29.29 and its 200 day simple moving average is $33.99.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the business earned $0.63 earnings per share. Malibu Boats’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, research analysts predict that Malibu Boats, Inc. will post 1.69 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on MBUU. DA Davidson started coverage on Malibu Boats in a research note on Tuesday, June 3rd. They set a “neutral” rating and a $33.00 target price for the company. Wall Street Zen raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Tuesday, April 15th. Truist Financial dropped their target price on shares of Malibu Boats from $38.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, April 14th. B. Riley upgraded shares of Malibu Boats to a “hold” rating in a report on Wednesday, February 12th. Finally, Baird R W cut Malibu Boats from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.17.

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.