Fort Washington Investment Advisors Inc. OH Buys 159,748 Shares of Malibu Boats, Inc. $MBUU

Fort Washington Investment Advisors Inc. OH lifted its position in Malibu Boats, Inc. (NASDAQ:MBUU) by 31.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 665,373 shares of the company’s stock after acquiring an additional 159,748 shares during the period. Fort Washington Investment Advisors Inc. OH owned approximately 3.46% of Malibu Boats worth $18,770,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of MBUU. AQR Capital Management LLC increased its stake in Malibu Boats by 25.3% in the first quarter. AQR Capital Management LLC now owns 11,815 shares of the company’s stock valued at $362,000 after purchasing an additional 2,389 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Malibu Boats by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,590 shares of the company’s stock worth $356,000 after purchasing an additional 491 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Malibu Boats by 8.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 57,132 shares of the company’s stock valued at $1,753,000 after buying an additional 4,496 shares during the period. Strs Ohio acquired a new position in shares of Malibu Boats in the 1st quarter valued at $123,000. Finally, SG Americas Securities LLC increased its position in shares of Malibu Boats by 146.2% in the 2nd quarter. SG Americas Securities LLC now owns 13,322 shares of the company’s stock valued at $418,000 after buying an additional 7,911 shares in the last quarter. Institutional investors own 91.35% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on MBUU shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Malibu Boats in a report on Monday, December 29th. Zacks Research upgraded Malibu Boats from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Loop Capital assumed coverage on Malibu Boats in a research report on Monday, December 22nd. They set a “buy” rating and a $34.00 price target on the stock. Griffin Securities set a $30.00 price objective on Malibu Boats in a report on Tuesday, March 3rd. Finally, Wall Street Zen lowered Malibu Boats from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $32.33.

Malibu Boats Trading Down 4.8%

MBUU opened at $26.08 on Friday. The stock has a market capitalization of $485.09 million, a P/E ratio of 35.73 and a beta of 1.22. Malibu Boats, Inc. has a 12 month low of $24.05 and a 12 month high of $39.65. The firm’s fifty day simple moving average is $29.63 and its 200 day simple moving average is $29.86. The company has a current ratio of 1.56, a quick ratio of 0.49 and a debt-to-equity ratio of 0.04.

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

Malibu Boats announced that its Board of Directors has initiated a share buyback plan on Friday, December 19th that permits the company to repurchase $70.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 12.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

About Malibu Boats

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.