Smith Asset Management Group LP Sells 57,000 Shares of Malibu Boats (MBUU)

Smith Asset Management Group LP cut its stake in shares of Malibu Boats (NASDAQ:MBUU) by 45.6% in the 1st quarter, Holdings Channel reports. The firm owned 68,050 shares of the company’s stock after selling 57,000 shares during the quarter. Smith Asset Management Group LP’s holdings in Malibu Boats were worth $2,260,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its position in shares of Malibu Boats by 11.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 97,737 shares of the company’s stock worth $3,246,000 after buying an additional 9,909 shares during the period. Hood River Capital Management LLC boosted its position in shares of Malibu Boats by 1.8% during the first quarter. Hood River Capital Management LLC now owns 458,991 shares of the company’s stock worth $15,243,000 after buying an additional 8,163 shares during the period. American Century Companies Inc. boosted its position in shares of Malibu Boats by 6.3% during the first quarter. American Century Companies Inc. now owns 695,743 shares of the company’s stock worth $23,106,000 after buying an additional 40,939 shares during the period. Trexquant Investment LP acquired a new position in shares of Malibu Boats during the first quarter worth approximately $282,000. Finally, Wells Fargo & Company MN boosted its position in shares of Malibu Boats by 41.6% during the first quarter. Wells Fargo & Company MN now owns 223,973 shares of the company’s stock worth $7,438,000 after buying an additional 65,817 shares during the period. 99.22% of the stock is owned by institutional investors.

In other news, VP Dan L. Gasper sold 15,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $34.15, for a total transaction of $512,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.50% of the stock is currently owned by corporate insiders.

A number of research firms have weighed in on MBUU. SunTrust Banks upped their target price on Malibu Boats to $48.00 and gave the stock a “positive” rating in a research report on Thursday, May 3rd. Zacks Investment Research upgraded Malibu Boats from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Tuesday, May 8th. BidaskClub upgraded Malibu Boats from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. Wells Fargo downgraded Malibu Boats from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 3rd. Finally, BMO Capital Markets upped their target price on Malibu Boats from $40.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, May 3rd. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Malibu Boats presently has a consensus rating of “Buy” and a consensus target price of $41.75.

MBUU opened at $42.57 on Wednesday. The company has a market capitalization of $854.05 million, a price-to-earnings ratio of 18.91, a PEG ratio of 1.17 and a beta of 1.02. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.87 and a quick ratio of 1.21. Malibu Boats has a 1-year low of $41.47 and a 1-year high of $42.18.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Wednesday, May 2nd. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.19. The firm had revenue of $140.43 million during the quarter, compared to the consensus estimate of $125.92 million. Malibu Boats had a return on equity of 45.08% and a net margin of 5.73%. The firm’s revenue for the quarter was up 82.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 earnings per share. analysts predict that Malibu Boats will post 2.36 EPS for the current fiscal year.

Malibu Boats Company Profile

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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