Bank of America Corp DE Grows Stake in Malibu Boats, Inc. (NASDAQ:MBUU)

Bank of America Corp DE boosted its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 20.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 302,864 shares of the company's stock after purchasing an additional 52,160 shares during the quarter. Bank of America Corp DE owned 1.54% of Malibu Boats worth $11,385,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC grew its stake in Malibu Boats by 4.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 7,977 shares of the company's stock valued at $300,000 after acquiring an additional 311 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Malibu Boats by 0.7% in the fourth quarter. Ameriprise Financial Inc. now owns 123,094 shares of the company's stock valued at $4,627,000 after buying an additional 815 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of Malibu Boats during the fourth quarter worth $38,000. Price T Rowe Associates Inc. MD increased its position in shares of Malibu Boats by 10.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,111 shares of the company's stock worth $456,000 after acquiring an additional 1,103 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Malibu Boats by 2.4% during the fourth quarter. Invesco Ltd. now owns 49,005 shares of the company's stock worth $1,842,000 after acquiring an additional 1,141 shares during the period. Institutional investors own 91.35% of the company's stock.

Malibu Boats Stock Down 0.0%

NASDAQ:MBUU traded down $0.01 on Wednesday, hitting $30.74. The stock had a trading volume of 9,192 shares, compared to its average volume of 193,375. Malibu Boats, Inc. has a 1 year low of $24.42 and a 1 year high of $47.82. The firm's fifty day simple moving average is $29.22 and its two-hundred day simple moving average is $34.65. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52. The stock has a market cap of $589.93 million, a P/E ratio of -7.07 and a beta of 1.23.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.06. Malibu Boats had a positive return on equity of 1.04% and a negative net margin of 12.09%. The company had revenue of $228.66 million during the quarter, compared to the consensus estimate of $226.44 million. During the same period last year, the business posted $0.63 earnings per share. Malibu Boats's revenue was up 12.4% on a year-over-year basis. Analysts predict that Malibu Boats, Inc. will post 1.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Benchmark reissued a "buy" rating and set a $44.00 price target on shares of Malibu Boats in a research report on Tuesday, February 4th. Baird R W cut Malibu Boats from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. KeyCorp lowered Malibu Boats from an "overweight" rating to a "sector weight" rating in a research report on Thursday, March 20th. DA Davidson upgraded Malibu Boats to a "hold" rating in a research report on Monday, April 14th. Finally, Wall Street Zen upgraded shares of Malibu Boats from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Malibu Boats currently has an average rating of "Hold" and an average price target of $38.17.

About Malibu Boats

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.