Malibu Boats, Inc. $MBUU Holdings Lifted by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Malibu Boats by 28.8%, owning 219,769 shares valued at approximately $6.74 million.
• Other institutional investors like Janus Henderson Group and Bank of America also raised their positions, with 91.35% of the stock now owned by institutions.
• Malibu Boats’ stock is currently down 1.9% and analysts have rated it a consensus "Hold" with a price target of $36.40.

Charles Schwab Investment Management Inc. increased its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 28.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 219,769 shares of the company's stock after purchasing an additional 49,107 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.12% of Malibu Boats worth $6,743,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MBUU. Wells Fargo & Company MN boosted its stake in shares of Malibu Boats by 7.9% during the 4th quarter. Wells Fargo & Company MN now owns 16,452 shares of the company's stock worth $618,000 after acquiring an additional 1,211 shares in the last quarter. Invesco Ltd. grew its position in shares of Malibu Boats by 2.4% in the fourth quarter. Invesco Ltd. now owns 49,005 shares of the company's stock valued at $1,842,000 after purchasing an additional 1,141 shares during the last quarter. Tower Research Capital LLC TRC grew its position 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 valued at $224,000 after purchasing an additional 5,001 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Malibu Boats by 10.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,111 shares of the company's stock valued at $456,000 after purchasing an additional 1,103 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Malibu Boats in the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 91.35% of the company's stock.

Analyst Ratings Changes

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

Malibu Boats Trading Up 1.2%

Shares of MBUU traded up $0.40 during mid-day trading on Friday, reaching $33.20. The company had a trading volume of 561,402 shares, compared to its average volume of 165,500. The firm has a fifty day simple moving average of $34.53 and a 200-day simple moving average of $32.05. Malibu Boats, Inc. has a fifty-two week low of $24.42 and a fifty-two week high of $47.82. The company has a current ratio of 1.60, a quick ratio of 0.61 and a debt-to-equity ratio of 0.05. The stock has a market cap of $637.14 million, a price-to-earnings ratio of 43.12 and a beta of 1.12.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last issued its earnings results on Thursday, August 28th. The company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). Malibu Boats had a net margin of 1.84% and a return on equity of 4.93%. The business had revenue of $207.04 million during the quarter, compared to analysts' expectations of $195.28 million. During the same period in the prior year, the business posted ($0.39) EPS. The business's revenue was up 30.4% on a year-over-year basis. On average, sell-side analysts anticipate that Malibu Boats, Inc. will post 1.69 EPS for the current fiscal year.

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.