Berkshire Asset Management LLC PA Grows Position in Malibu Boats, Inc. $MBUU

Key Points

• Berkshire Asset Management LLC PA has increased its stake in Malibu Boats, Inc. by 44.9%, owning approximately 0.24% of the company valued at $1.4 million after acquiring additional shares in the first quarter.
• Hedge funds collectively own 91.35% of Malibu Boats, with recent notable purchases from several firms, including GAMMA Investing LLC and Tower Research Capital LLC, significantly increasing their holdings.
• Wall Street analysts have a consensus rating of "Hold" on Malibu Boats stock, with a target price of $36.40 and one analyst issuing a Buy rating.

Berkshire Asset Management LLC PA lifted its stake in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 44.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,301 shares of the company's stock after buying an additional 14,351 shares during the quarter. Berkshire Asset Management LLC PA owned approximately 0.24% of Malibu Boats worth $1,425,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new position in shares of Malibu Boats in the fourth quarter worth $38,000. Quarry LP purchased a new position in shares of Malibu Boats in the fourth quarter worth $45,000. GAMMA Investing LLC lifted its holdings in shares of Malibu Boats by 2,154.4% in the first quarter. GAMMA Investing LLC now owns 4,847 shares of the company's stock worth $158,000 after buying an additional 4,632 shares in the last quarter. ProShare Advisors LLC purchased a new position in shares of Malibu Boats in the fourth quarter worth $207,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Malibu Boats by 518.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,966 shares of the company's stock worth $224,000 after buying an additional 5,001 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company's stock.

Wall Street Analyst Weigh In

Separately, DA Davidson began coverage on shares of Malibu Boats in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $33.00 target price on the stock. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $36.40.

Malibu Boats Price Performance

Malibu Boats stock opened at $36.63 on Wednesday. The company has a market cap of $702.93 million, a price-to-earnings ratio of -89.34 and a beta of 1.12. The firm's fifty day moving average is $33.74 and its 200 day moving average is $32.09. The company has a quick ratio of 0.61, a current ratio of 1.60 and a debt-to-equity ratio of 0.05. Malibu Boats, Inc. has a 52-week low of $24.42 and a 52-week high of $47.82.

Malibu Boats Company Profile

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.

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