Malibu Boats, Inc. $MBUU Shares Sold by Berkshire Asset Management LLC PA

Berkshire Asset Management LLC PA lowered its position in Malibu Boats, Inc. (NASDAQ:MBUU) by 49.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,401 shares of the company’s stock after selling 22,900 shares during the period. Berkshire Asset Management LLC PA owned about 0.12% of Malibu Boats worth $759,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Twin Lions Management LLC increased its stake in shares of Malibu Boats by 60.2% in the 2nd quarter. Twin Lions Management LLC now owns 1,080,301 shares of the company’s stock valued at $33,857,000 after purchasing an additional 405,838 shares in the last quarter. Cooke & Bieler LP increased its position in shares of Malibu Boats by 12.4% in the third quarter. Cooke & Bieler LP now owns 1,544,091 shares of the company’s stock valued at $50,106,000 after buying an additional 170,178 shares in the last quarter. Fort Washington Investment Advisors Inc. OH raised its stake in shares of Malibu Boats by 28.6% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 505,625 shares of the company’s stock worth $16,408,000 after buying an additional 112,561 shares during the period. Lodge Hill Capital LLC raised its stake in shares of Malibu Boats by 12.7% during the 3rd quarter. Lodge Hill Capital LLC now owns 885,014 shares of the company’s stock worth $28,719,000 after buying an additional 100,000 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Malibu Boats by 31.5% during the 2nd quarter. Bank of America Corp DE now owns 361,357 shares of the company’s stock valued at $11,325,000 after buying an additional 86,526 shares in the last quarter. 91.35% of the stock is currently owned by institutional investors and hedge funds.

Malibu Boats Stock Performance

NASDAQ MBUU opened at $31.52 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.49 and a current ratio of 1.56. The stock’s fifty day moving average is $31.06 and its two-hundred day moving average is $31.24. The firm has a market capitalization of $586.27 million, a P/E ratio of 43.18 and a beta of 1.22. Malibu Boats, Inc. has a fifty-two week low of $24.07 and a fifty-two week high of $39.65.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, February 5th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. Malibu Boats had a return on equity of 4.25% and a net margin of 1.76%.The business had revenue of $188.62 million for the quarter, compared to analyst estimates of $181.96 million. During the same quarter in the previous year, the firm earned $0.31 EPS. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, research analysts anticipate that Malibu Boats, Inc. will post 1.69 earnings per share for the current year.

Malibu Boats announced that its board has initiated a stock repurchase program on Friday, December 19th that allows the company to buyback $70.00 million in shares. This buyback authorization allows the company to buy up to 12.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

MBUU has been the subject of several recent analyst reports. Wall Street Zen lowered shares of Malibu Boats from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Zacks Research upgraded shares of Malibu Boats from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. B. Riley Financial lowered their price objective on Malibu Boats from $33.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, November 25th. Weiss Ratings reissued a “sell (d)” rating on shares of Malibu Boats in a report on Monday, December 29th. Finally, Loop Capital started coverage on Malibu Boats in a research report on Monday, December 22nd. They issued a “buy” rating and a $34.00 target price on the stock. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $32.80.

Malibu Boats Profile

Malibu Boats, Inc is a leading designer, manufacturer and distributor of performance sport boats for the recreational boating market. The company’s product portfolio includes the premium Malibu® brand and the value-oriented Axis® Wake Research line, as well as Cobalt® boats following its 2020 acquisition. Malibu’s vessels are engineered to serve water-sports enthusiasts, with models optimized for wakeboarding, wakesurfing and waterskiing.

Founded in 1982 by water-sports enthusiast Jack Springer, Malibu Boats is headquartered in Loudon, Tennessee.