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

SG Americas Securities LLC raised its stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 97.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 7,655 shares of the company’s stock after buying an additional 3,784 shares during the period. SG Americas Securities LLC’s holdings in Malibu Boats were worth $536,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH raised its stake in shares of Malibu Boats by 9.6% during the 2nd quarter. Allianz Asset Management GmbH now owns 24,608 shares of the company’s stock valued at $1,804,000 after buying an additional 2,152 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Malibu Boats by 25.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 250,538 shares of the company’s stock valued at $18,372,000 after buying an additional 51,295 shares during the last quarter. First Hawaiian Bank raised its stake in shares of Malibu Boats by 99.8% during the 3rd quarter. First Hawaiian Bank now owns 12,489 shares of the company’s stock valued at $874,000 after buying an additional 6,239 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Malibu Boats by 25.2% during the 2nd quarter. First Trust Advisors LP now owns 51,948 shares of the company’s stock valued at $3,809,000 after buying an additional 10,443 shares during the last quarter. Finally, Oberweis Asset Management Inc. raised its stake in shares of Malibu Boats by 1.9% during the 2nd quarter. Oberweis Asset Management Inc. now owns 46,630 shares of the company’s stock valued at $3,419,000 after buying an additional 870 shares during the last quarter. Institutional investors and hedge funds own 93.38% of the company’s stock.

In other Malibu Boats news, CEO Jackie D. Jr. Springer sold 15,000 shares of the firm’s stock in a transaction on Tuesday, November 9th. The stock was sold at an average price of $73.88, for a total value of $1,108,200.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.73% of the company’s stock.

Shares of MBUU stock opened at $65.13 on Friday. The stock’s fifty day moving average is $69.26 and its two-hundred day moving average is $72.23. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.38 and a current ratio of 1.04. The firm has a market capitalization of $1.36 billion, a P/E ratio of 11.84 and a beta of 1.71. Malibu Boats, Inc. has a fifty-two week low of $61.57 and a fifty-two week high of $93.00.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Thursday, November 4th. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. The company had revenue of $253.50 million for the quarter, compared to analyst estimates of $246.16 million. Malibu Boats had a return on equity of 35.88% and a net margin of 11.58%. The firm’s revenue for the quarter was up 40.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 EPS. On average, equities analysts forecast that Malibu Boats, Inc. will post 6.77 earnings per share for the current year.

MBUU has been the subject of several recent analyst reports. Truist Securities cut their price target on Malibu Boats from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Friday, October 8th. Zacks Investment Research lowered Malibu Boats from a “buy” rating to a “hold” rating in a research note on Friday, January 7th. Truist cut their price target on Malibu Boats from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Friday, October 8th. Wolfe Research initiated coverage on Malibu Boats in a research note on Thursday, September 30th. They issued an “outperform” rating and a $81.00 price target for the company. Finally, Raymond James lifted their price target on Malibu Boats from $87.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, November 5th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $88.67.

Malibu Boats Profile

Malibu Boats, Inc is a holding company, which engages in the design, manufacture, and market of recreational powerboats. It offers performance sport boats, sterndrive, and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes and Cobalt brands. The firm operates through the following segments: Malibu, Saltwater Fishing and Cobalt.

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Institutional Ownership by Quarter for Malibu Boats (NASDAQ:MBUU)

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