Wells Fargo & Company MN boosted its holdings in shares of Malibu Boats Inc (NASDAQ:MBUU) by 41.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 223,973 shares of the company’s stock after buying an additional 65,817 shares during the period. Wells Fargo & Company MN’s holdings in Malibu Boats were worth $7,438,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of MBUU. Tower Research Capital LLC TRC raised its stake in Malibu Boats by 126.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,445 shares of the company’s stock valued at $133,000 after purchasing an additional 2,485 shares during the period. Two Sigma Securities LLC bought a new stake in Malibu Boats during the 4th quarter valued at approximately $236,000. MetLife Investment Advisors LLC bought a new stake in Malibu Boats during the 4th quarter valued at approximately $261,000. PEAK6 Investments L.P. raised its stake in Malibu Boats by 222.5% during the 4th quarter. PEAK6 Investments L.P. now owns 11,759 shares of the company’s stock valued at $350,000 after purchasing an additional 21,359 shares during the period. Finally, American International Group Inc. raised its stake in Malibu Boats by 13.7% during the 4th quarter. American International Group Inc. now owns 13,725 shares of the company’s stock valued at $408,000 after purchasing an additional 1,652 shares during the period.
NASDAQ:MBUU opened at $42.66 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.21 and a current ratio of 1.87. Malibu Boats Inc has a 1 year low of $24.01 and a 1 year high of $46.49. The company has a market capitalization of $875.60 million, a price-to-earnings ratio of 28.25, a PEG ratio of 1.20 and a beta of 1.10.
Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Wednesday, May 2nd. The company reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.19. Malibu Boats had a return on equity of 45.08% and a net margin of 5.73%. The business had revenue of $140.43 million for the quarter, compared to the consensus estimate of $125.92 million. During the same quarter in the previous year, the company posted $0.49 EPS. The company’s revenue was up 82.0% compared to the same quarter last year. equities analysts expect that Malibu Boats Inc will post 2.36 earnings per share for the current fiscal year.
Several analysts recently issued reports on the company. BidaskClub downgraded Malibu Boats from a “strong-buy” rating to a “buy” rating in a research note on Friday. Zacks Investment Research raised Malibu Boats from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Tuesday, May 8th. KeyCorp lifted their target price on Malibu Boats from $40.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, May 3rd. BMO Capital Markets lifted their target price on Malibu Boats from $40.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, May 3rd. Finally, Wells Fargo & Co downgraded Malibu Boats from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 3rd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $41.75.
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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