Eagle Asset Management Inc. grew its stake in shares of Malibu Boats Inc (NASDAQ:MBUU) by 66.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,940 shares of the company’s stock after acquiring an additional 31,963 shares during the period. Eagle Asset Management Inc.’s holdings in Malibu Boats were worth $2,781,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its position in shares of Malibu Boats by 5,954.2% during the fourth quarter. Meeder Asset Management Inc. now owns 1,453 shares of the company’s stock worth $51,000 after acquiring an additional 1,429 shares in the last quarter. First Hawaiian Bank increased its holdings in shares of Malibu Boats by 25.2% in the fourth quarter. First Hawaiian Bank now owns 5,370 shares of the company’s stock worth $187,000 after purchasing an additional 1,080 shares during the period. United Services Automobile Association bought a new position in shares of Malibu Boats in the third quarter worth $205,000. ClariVest Asset Management LLC bought a new position in shares of Malibu Boats in the third quarter worth $215,000. Finally, Jefferies Group LLC bought a new position in shares of Malibu Boats in the third quarter worth $221,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.
Several research firms have recently weighed in on MBUU. Zacks Investment Research cut shares of Malibu Boats from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. BidaskClub raised shares of Malibu Boats from a “hold” rating to a “buy” rating in a report on Friday, February 22nd. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $54.86.
MBUU opened at $46.90 on Wednesday. The firm has a market capitalization of $958.50 million, a P/E ratio of 18.61, a PEG ratio of 0.90 and a beta of 1.78. The company has a current ratio of 1.54, a quick ratio of 0.61 and a debt-to-equity ratio of 0.86. Malibu Boats Inc has a 52 week low of $32.03 and a 52 week high of $59.57.
Malibu Boats (NASDAQ:MBUU) last released its earnings results on Wednesday, February 6th. The company reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.13. The business had revenue of $165.80 million for the quarter, compared to analysts’ expectations of $149.82 million. Malibu Boats had a return on equity of 45.92% and a net margin of 9.44%. The firm’s revenue was up 44.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. As a group, sell-side analysts anticipate that Malibu Boats Inc will post 3.41 earnings per share for the current fiscal year.
In related news, VP Deborah S. Kent sold 1,200 shares of the stock in a transaction on Friday, February 8th. The stock was sold at an average price of $45.06, for a total value of $54,072.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.35% of the stock is owned by corporate insiders.
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About Malibu Boats
Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.
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