American Century Companies Inc. Sells 19,353 Shares of Malibu Boats, Inc. $MBUU

American Century Companies Inc. decreased its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 561,277 shares of the company’s stock after selling 19,353 shares during the period. American Century Companies Inc. owned 2.92% of Malibu Boats worth $17,590,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of MBUU. Russell Investments Group Ltd. boosted its position in shares of Malibu Boats by 233.3% in the first quarter. Russell Investments Group Ltd. now owns 15,790 shares of the company’s stock valued at $484,000 after acquiring an additional 11,053 shares during the period. Vanguard Group Inc. raised its stake in Malibu Boats by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 1,216,269 shares of the company’s stock valued at $37,315,000 after purchasing an additional 18,187 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in Malibu Boats by 8.9% in the 2nd quarter. Pzena Investment Management LLC now owns 1,670,977 shares of the company’s stock valued at $52,368,000 after purchasing an additional 136,138 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Malibu Boats by 28.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 219,769 shares of the company’s stock valued at $6,743,000 after purchasing an additional 49,107 shares during the period. Finally, Lodge Hill Capital LLC grew its position in Malibu Boats by 23.0% in the 1st quarter. Lodge Hill Capital LLC now owns 652,674 shares of the company’s stock worth $20,024,000 after purchasing an additional 122,160 shares during the last quarter. 91.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MBUU shares. Zacks Research lowered shares of Malibu Boats from a “hold” rating to a “strong sell” rating in a research report on Friday, November 28th. Weiss Ratings restated a “sell (d)” rating on shares of Malibu Boats in a research note on Wednesday, November 26th. DA Davidson reduced their price objective on Malibu Boats from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Monday, September 8th. Truist Financial boosted their price objective on Malibu Boats from $30.00 to $37.00 and gave the company a “hold” rating in a research report on Tuesday, October 28th. Finally, B. Riley cut their target price on Malibu Boats from $33.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, November 25th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $36.50.

Malibu Boats Trading Down 1.2%

Shares of NASDAQ MBUU opened at $28.25 on Wednesday. Malibu Boats, Inc. has a 1-year low of $24.07 and a 1-year high of $45.02. The company has a market cap of $543.16 million, a PE ratio of 36.69 and a beta of 1.21. The company has a current ratio of 1.63, a quick ratio of 0.58 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $29.36 and a two-hundred day moving average of $31.91.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. Malibu Boats had a net margin of 1.84% and a return on equity of 4.93%. The business had revenue of $194.73 million for the quarter, compared to analysts’ expectations of $182.09 million. During the same period in the prior year, the firm earned $0.08 earnings per share. Malibu Boats’s revenue was up 15.0% compared to the same quarter last year. As a group, equities analysts expect that Malibu Boats, Inc. will post 1.69 earnings per share for the current fiscal 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.