Malibu Boats, Inc. $MBUU Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC cut its holdings in Malibu Boats, Inc. (NASDAQ:MBUU) by 1.4% during the first quarter, HoldingsChannel reports. The firm owned 1,697,457 shares of the company’s stock after selling 24,500 shares during the period. Pzena Investment Management LLC owned about 0.09% of Malibu Boats worth $43,998,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in MBUU. Wellington Management Group LLP boosted its stake in shares of Malibu Boats by 27.1% in the fourth quarter. Wellington Management Group LLP now owns 1,688,099 shares of the company’s stock valued at $47,621,000 after buying an additional 359,550 shares in the last quarter. Cooke & Bieler LP raised its position in shares of Malibu Boats by 1.5% during the 4th quarter. Cooke & Bieler LP now owns 1,567,404 shares of the company’s stock worth $44,216,000 after purchasing an additional 23,313 shares during the last quarter. Twin Lions Management LLC lifted its position in shares of Malibu Boats by 8.2% in the fourth quarter. Twin Lions Management LLC now owns 1,138,053 shares of the company’s stock valued at $32,104,000 after acquiring an additional 85,951 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in Malibu Boats by 4.4% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 694,763 shares of the company’s stock valued at $18,008,000 after purchasing an additional 29,390 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in Malibu Boats by 5.5% during the fourth quarter. Janus Henderson Group PLC now owns 438,163 shares of the company’s stock worth $12,360,000 after acquiring an additional 23,012 shares during the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats Stock Down 6.5%

MBUU opened at $25.64 on Thursday. Malibu Boats, Inc. has a one year low of $23.84 and a one year high of $39.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.44 and a current ratio of 1.31. The company has a market capitalization of $503.49 million, a PE ratio of -427.33 and a beta of 1.14. The stock’s fifty day moving average is $27.02 and its 200-day moving average is $28.35.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.27. The company had revenue of $235.70 million for the quarter, compared to analysts’ expectations 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 previous year, the company posted $0.72 EPS. On average, equities analysts predict that Malibu Boats, Inc. will post 1.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Weiss Ratings lowered Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Truist Financial lowered their price target on Malibu Boats from $34.00 to $31.00 and set a “hold” rating for the company in a report on Monday, April 27th. DA Davidson reiterated a “neutral” rating and set a $30.00 target price on shares of Malibu Boats in a report on Monday, June 15th. Wall Street Zen raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Zacks Research raised Malibu Boats from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $31.00.

Malibu Boats Company 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.