Dynamic Technology Lab Private Ltd Acquires New Position in Malibu Boats Inc (MBUU)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Malibu Boats Inc (NASDAQ:MBUU) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,191 shares of the company’s stock, valued at approximately $512,000. Dynamic Technology Lab Private Ltd owned about 0.06% of Malibu Boats as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Renaissance Technologies LLC grew its stake in Malibu Boats by 31.1% during the 2nd quarter. Renaissance Technologies LLC now owns 649,500 shares of the company’s stock valued at $27,240,000 after purchasing an additional 154,200 shares in the last quarter. BlueMountain Capital Management LLC acquired a new stake in Malibu Boats during the 2nd quarter valued at approximately $452,000. Dimensional Fund Advisors LP grew its stake in Malibu Boats by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 776,397 shares of the company’s stock valued at $32,562,000 after purchasing an additional 15,254 shares in the last quarter. Brown Advisory Inc. acquired a new stake in Malibu Boats during the 2nd quarter valued at approximately $235,000. Finally, Spark Investment Management LLC acquired a new stake in Malibu Boats during the 2nd quarter valued at approximately $729,000. 98.31% of the stock is currently owned by institutional investors and hedge funds.

In other news, CFO Wayne R. Wilson sold 14,088 shares of Malibu Boats stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $52.34, for a total value of $737,365.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Clair William Paxson St, Jr. sold 15,000 shares of Malibu Boats stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $52.60, for a total value of $789,000.00. Following the completion of the transaction, the insider now owns 24,262 shares of the company’s stock, valued at approximately $1,276,181.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 135,823 shares of company stock valued at $7,160,569. Insiders own 3.50% of the company’s stock.

A number of brokerages have weighed in on MBUU. Raymond James raised their price objective on Malibu Boats from $48.00 to $61.00 and gave the company a “strong-buy” rating in a research note on Friday, September 7th. BMO Capital Markets raised their price objective on Malibu Boats from $48.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, September 7th. B. Riley raised their price objective on Malibu Boats from $41.00 to $46.50 and gave the company a “neutral” rating in a research note on Friday, September 7th. Zacks Investment Research upgraded Malibu Boats from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective for the company in a research note on Thursday. Finally, SunTrust Banks raised their price objective on Malibu Boats to $60.00 and gave the company a “buy” rating in a research note on Friday, September 7th. One research analyst has rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $52.94.

Shares of MBUU opened at $53.01 on Monday. The company has a market capitalization of $1.08 billion, a PE ratio of 21.04, a PEG ratio of 1.10 and a beta of 1.13. The company has a quick ratio of 1.37, a current ratio of 2.05 and a debt-to-equity ratio of 0.78. Malibu Boats Inc has a 52 week low of $27.36 and a 52 week high of $59.57.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Thursday, September 6th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.59 by $0.17. The company had revenue of $138.66 million during the quarter, compared to analyst estimates of $122.65 million. Malibu Boats had a return on equity of 43.60% and a net margin of 5.56%. The business’s revenue was up 84.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 EPS. equities analysts expect that Malibu Boats Inc will post 3.18 earnings per share for the current year.

Malibu Boats 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.

Read More: How Important is Technical Analysis of Stocks

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

Receive News & Ratings for Malibu Boats Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Malibu Boats and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply