Invesco Ltd. Sells 1,187 Shares of Malibu Boats, Inc. $MBUU

Invesco Ltd. lowered its stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 2.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,818 shares of the company’s stock after selling 1,187 shares during the quarter. Invesco Ltd. owned about 0.24% of Malibu Boats worth $1,467,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in Malibu Boats by 28.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 219,769 shares of the company’s stock worth $6,743,000 after purchasing an additional 49,107 shares during the period. Vanguard Group Inc. boosted its position in shares of Malibu Boats by 1.5% in the first quarter. Vanguard Group Inc. now owns 1,216,269 shares of the company’s stock valued at $37,315,000 after acquiring an additional 18,187 shares during the period. Homestead Advisers Corp boosted its position in shares of Malibu Boats by 15.3% in the first quarter. Homestead Advisers Corp now owns 48,200 shares of the company’s stock valued at $1,479,000 after acquiring an additional 6,400 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Malibu Boats in the first quarter valued at approximately $895,000. Finally, Pzena Investment Management LLC boosted its position in shares of Malibu Boats by 0.8% in the first quarter. Pzena Investment Management LLC now owns 1,534,839 shares of the company’s stock valued at $47,089,000 after acquiring an additional 11,486 shares during the period. Institutional investors own 91.35% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, DA Davidson started coverage on Malibu Boats in a research report on Tuesday, June 3rd. They issued a “neutral” rating and a $33.00 price objective for the company. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.40.

Malibu Boats Stock Up 1.2%

Shares of MBUU stock opened at $33.20 on Tuesday. The stock has a market cap of $639.10 million, a P/E ratio of 43.12 and a beta of 1.20. Malibu Boats, Inc. has a one year low of $24.42 and a one year high of $47.82. The stock has a fifty day moving average price of $34.55 and a 200 day moving average price of $31.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.63 and a quick ratio of 0.58.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Thursday, August 28th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). The firm had revenue of $207.04 million during the quarter, compared to the consensus estimate of $195.28 million. Malibu Boats had a return on equity of 4.93% and a net margin of 1.84%.The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period last year, the business earned ($0.39) earnings per share. Analysts predict that Malibu Boats, Inc. will post 1.69 earnings per share for the current year.

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.