US Bancorp DE Boosts Holdings in Malibu Boats, Inc. (NASDAQ:MBUU)

US Bancorp DE increased its holdings in Malibu Boats, Inc. (NASDAQ:MBUU) by 851.7% during the third quarter, Holdings Channel.com reports. The firm owned 5,434 shares of the company’s stock after acquiring an additional 4,863 shares during the quarter. US Bancorp DE’s holdings in Malibu Boats were worth $211,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Pzena Investment Management LLC bought a new stake in Malibu Boats during the 2nd quarter valued at $51,800,000. Dimensional Fund Advisors LP grew its position in shares of Malibu Boats by 10.9% in the 2nd 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 during the last quarter. The Manufacturers Life Insurance Company increased its stake 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 valued at $29,560,000 after buying an additional 409,574 shares during the period. Lord Abbett & CO. LLC raised 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 valued at $13,535,000 after acquiring an additional 218,378 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in Malibu Boats by 7.2% in the first quarter. Bessemer Group Inc. now owns 307,486 shares of the company’s stock worth $13,307,000 after acquiring an additional 20,700 shares during the period. 91.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

MBUU has been the topic of several research analyst reports. KeyCorp boosted their price target on shares of Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Robert W. Baird raised their price objective on Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Benchmark reiterated a “buy” rating and issued a $44.00 price target on shares of Malibu Boats in a research note on Friday, November 1st. Truist Financial raised their target price on shares of Malibu Boats from $32.00 to $42.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, StockNews.com upgraded shares of Malibu Boats to a “sell” rating in a report on Saturday, November 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $44.57.

Malibu Boats Price Performance

NASDAQ MBUU opened at $41.50 on Friday. The company has a quick ratio of 0.52, a current ratio of 1.55 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $818.38 million, a P/E ratio of -10.38 and a beta of 1.36. The company has a 50-day moving average price of $40.35 and a 200-day moving average price of $37.19. Malibu Boats, Inc. has a 52 week low of $30.20 and a 52 week high of $56.03.

Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, October 31st. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.16. The business had revenue of $171.60 million during the quarter, compared to analysts’ expectations of $165.33 million. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. The firm’s revenue was down 32.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.07 earnings per share. Equities research analysts anticipate that Malibu Boats, Inc. will post 2.01 earnings per share for the current year.

About Malibu Boats

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.