SG Americas Securities LLC Raises Stock Position in Malibu Boats, Inc. (NASDAQ:MBUU)

SG Americas Securities LLC increased its stake in Malibu Boats, Inc. (NASDAQ:MBUU) by 31.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,212 shares of the company’s stock after acquiring an additional 1,252 shares during the quarter. SG Americas Securities LLC’s holdings in Malibu Boats were worth $202,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MBUU. Pzena Investment Management LLC purchased a new stake in shares of Malibu Boats during the second quarter worth $51,800,000. Dimensional Fund Advisors LP grew its holdings in shares of Malibu Boats by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock worth $39,661,000 after buying an additional 111,699 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Malibu Boats by 94.4% during the second quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock worth $29,560,000 after buying an additional 409,574 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of Malibu Boats by 231.4% during the first quarter. Lord Abbett & CO. LLC now owns 312,731 shares of the company’s stock worth $13,535,000 after buying an additional 218,378 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Malibu Boats by 7.2% during the first quarter. Bessemer Group Inc. now owns 307,486 shares of the company’s stock worth $13,307,000 after buying an additional 20,700 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Trading Down 3.0 %

Shares of MBUU stock opened at $40.59 on Wednesday. The company’s 50-day moving average price is $37.98 and its 200-day moving average price is $36.54. The stock has a market cap of $829.66 million, a price-to-earnings ratio of -15.20 and a beta of 1.38. Malibu Boats, Inc. has a twelve month low of $30.20 and a twelve month high of $56.03.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, August 29th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.07). Malibu Boats had a negative net margin of 6.74% and a positive return on equity of 6.21%. The company had revenue of $158.70 million during the quarter, compared to analyst estimates of $157.54 million. During the same period in the previous year, the company earned $2.96 EPS. The company’s quarterly revenue was down 57.4% compared to the same quarter last year. As a group, equities research analysts predict that Malibu Boats, Inc. will post 1.98 EPS for the current year.

Analyst Upgrades and Downgrades

MBUU has been the subject of a number of research reports. DA Davidson reaffirmed a “buy” rating and set a $45.00 target price on shares of Malibu Boats in a report on Tuesday, September 10th. StockNews.com cut shares of Malibu Boats from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. Truist Financial reissued a “hold” rating and set a $32.00 price target on shares of Malibu Boats in a research report on Monday, July 8th. Finally, B. Riley lowered their price target on shares of Malibu Boats from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Malibu Boats currently has an average rating of “Hold” and an average price target of $40.00.

Malibu Boats 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.