Pzena Investment Management LLC Purchases 41,713 Shares of Malibu Boats, Inc. $MBUU

Pzena Investment Management LLC increased its position in Malibu Boats, Inc. (NASDAQ:MBUU) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,721,957 shares of the company’s stock after purchasing an additional 41,713 shares during the quarter. Pzena Investment Management LLC owned approximately 8.95% of Malibu Boats worth $48,576,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Wilson Asset Management International PTY Ltd. bought a new position in Malibu Boats in the fourth quarter worth approximately $1,325,000. UBS Group AG grew its stake in Malibu Boats by 64.3% in the fourth quarter. UBS Group AG now owns 94,509 shares of the company’s stock worth $2,666,000 after purchasing an additional 37,003 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Malibu Boats by 11.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 35,667 shares of the company’s stock worth $1,006,000 after purchasing an additional 3,777 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in Malibu Boats by 31.6% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 665,373 shares of the company’s stock worth $18,770,000 after purchasing an additional 159,748 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Malibu Boats by 13.0% in the fourth quarter. SG Americas Securities LLC now owns 22,248 shares of the company’s stock worth $628,000 after purchasing an additional 2,563 shares in the last quarter. Institutional investors own 91.35% of the company’s stock.

Malibu Boats Stock Up 3.3%

Malibu Boats stock opened at $26.86 on Friday. The business has a fifty day moving average of $25.98 and a two-hundred day moving average of $28.29. The company has a quick ratio of 0.44, a current ratio of 1.31 and a debt-to-equity ratio of 0.32. The firm has a market cap of $527.53 million, a P/E ratio of -447.67 and a beta of 1.13. Malibu Boats, Inc. has a twelve month low of $23.84 and a twelve month high of $39.65.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, May 7th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. Malibu Boats had a positive return on equity of 3.28% and a negative net margin of 0.11%.The company had revenue of $235.70 million during the quarter, compared to analyst estimates of $203.46 million. During the same quarter in the prior year, the business earned $0.72 earnings per share. Malibu Boats’s revenue was up 3.1% on a year-over-year basis. On average, analysts forecast that Malibu Boats, Inc. will post 1.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Truist Financial dropped their price objective on Malibu Boats from $34.00 to $31.00 and set a “hold” rating on the stock in a research note on Monday, April 27th. Weiss Ratings lowered Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Zacks Research lowered Malibu Boats from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Wall Street Zen upgraded Malibu Boats from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Griffin Securities set a $30.00 target price on Malibu Boats in a report on Tuesday, March 3rd. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Malibu Boats has a consensus rating of “Hold” and an average price target of $31.20.

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.