Rhumbline Advisers Raises Stock Position in Malibu Boats Inc (NASDAQ:MBUU)

Rhumbline Advisers lifted its stake in Malibu Boats Inc (NASDAQ:MBUU) by 5.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 28,370 shares of the company’s stock after acquiring an additional 1,421 shares during the quarter. Rhumbline Advisers owned 0.14% of Malibu Boats worth $1,123,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MBUU. Morgan Stanley grew its stake in shares of Malibu Boats by 14.6% in the 3rd quarter. Morgan Stanley now owns 103,990 shares of the company’s stock worth $5,689,000 after buying an additional 13,259 shares during the last quarter. ClariVest Asset Management LLC grew its stake in shares of Malibu Boats by 85.2% in the 4th quarter. ClariVest Asset Management LLC now owns 7,277 shares of the company’s stock worth $253,000 after buying an additional 3,348 shares during the last quarter. Affinity Investment Advisors LLC grew its stake in shares of Malibu Boats by 20.4% in the 4th quarter. Affinity Investment Advisors LLC now owns 7,508 shares of the company’s stock worth $261,000 after buying an additional 1,274 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Malibu Boats by 1.1% in the 4th quarter. Victory Capital Management Inc. now owns 49,022 shares of the company’s stock worth $1,706,000 after buying an additional 535 shares during the last quarter. Finally, Shaker Investments LLC OH purchased a new stake in shares of Malibu Boats in the 4th quarter worth approximately $230,000. Hedge funds and other institutional investors own 99.54% of the company’s stock.

Several analysts recently weighed in on MBUU shares. BidaskClub downgraded Malibu Boats from a “buy” rating to a “hold” rating in a research note on Saturday, March 9th. Zacks Investment Research downgraded Malibu Boats from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. ValuEngine downgraded Malibu Boats from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Finally, SunTrust Banks cut their price target on Malibu Boats to $48.00 and set a “buy” rating on the stock in a research note on Monday, June 17th. Two equities research analysts have rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $53.83.

MBUU stock traded up $0.37 during midday trading on Monday, hitting $39.22. The company’s stock had a trading volume of 169,200 shares, compared to its average volume of 198,888. The stock has a market capitalization of $823.81 million, a P/E ratio of 15.56, a PEG ratio of 1.09 and a beta of 1.82. Malibu Boats Inc has a 12 month low of $32.09 and a 12 month high of $59.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.72 and a current ratio of 1.61. The business has a 50-day simple moving average of $38.22.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, May 9th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.12. The business had revenue of $199.92 million for the quarter, compared to analysts’ expectations of $188.31 million. Malibu Boats had a return on equity of 44.85% and a net margin of 9.41%. The firm’s quarterly revenue was up 42.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 EPS. On average, equities analysts predict that Malibu Boats Inc will post 3.55 earnings per share for the current year.

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

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