Meros Investment Management LP Purchases 22,782 Shares of Malibu Boats, Inc. $MBUU

Meros Investment Management LP increased its position in Malibu Boats, Inc. (NASDAQ:MBUU) by 16.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 157,875 shares of the company’s stock after purchasing an additional 22,782 shares during the quarter. Malibu Boats makes up 1.8% of Meros Investment Management LP’s holdings, making the stock its 28th largest position. Meros Investment Management LP owned about 0.85% of Malibu Boats worth $4,454,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Intesa Sanpaolo Wealth Management acquired a new position in Malibu Boats in the 4th quarter valued at about $31,000. BNP Paribas Financial Markets lifted its position in Malibu Boats by 43.3% during the second quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock worth $67,000 after acquiring an additional 643 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Malibu Boats by 346.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company’s stock worth $73,000 after acquiring an additional 1,801 shares during the last quarter. Strs Ohio acquired a new stake in Malibu Boats during the first quarter worth approximately $123,000. Finally, Central Pacific Bank Trust Division lifted its position in Malibu Boats by 36.0% during the fourth quarter. Central Pacific Bank Trust Division now owns 4,618 shares of the company’s stock worth $130,000 after acquiring an additional 1,223 shares during the last quarter. 91.35% of the stock is owned by institutional investors.

Malibu Boats Stock Performance

Shares of NASDAQ:MBUU opened at $27.69 on Tuesday. The company’s 50 day moving average price is $26.53 and its two-hundred day moving average price is $28.46. Malibu Boats, Inc. has a 12-month low of $23.84 and a 12-month high of $39.65. The firm has a market cap of $543.83 million, a PE ratio of -461.50 and a beta of 1.14. The company has a quick ratio of 0.44, a current ratio of 1.31 and a debt-to-equity ratio of 0.32.

Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, May 7th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The firm had revenue of $235.70 million for the quarter, compared to analyst estimates of $203.46 million. Malibu Boats had a negative net margin of 0.11% and a positive return on equity of 3.28%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 EPS. Equities research analysts predict that Malibu Boats, Inc. will post 1.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MBUU. Zacks Research upgraded shares of Malibu Boats from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 10th. Wall Street Zen upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Griffin Securities set a $30.00 price objective on shares of Malibu Boats in a research report on Tuesday, March 3rd. Weiss Ratings downgraded shares of Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Finally, DA Davidson restated a “neutral” rating and set a $30.00 price objective on shares of Malibu Boats in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.00.

Malibu Boats Profile

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.