Dimensional Fund Advisors LP Purchases 52,635 Shares of Malibu Boats, Inc. $MBUU

Key Points

• Dimensional Fund Advisors increased its Malibu Boats stake by 5.8%, adding 52,635 shares to own 967,068 shares, or 5.2% of the company. Institutional investors collectively own 91.35% of MBUU.
• Analysts maintain a generally cautious outlook, with one Buy, four Hold, and one Sell rating. The stock has an average rating of Hold and an average price target of $31.60.
• Malibu Boats exceeded quarterly expectations, reporting $0.56 in earnings per share versus a $0.29 consensus estimate and $235.7 million in revenue. Shares recently opened at $29.28, compared with a 52-week range of $23.84 to $39.65.

Dimensional Fund Advisors LP boosted its position in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 5.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 967,068 shares of the company's stock after acquiring an additional 52,635 shares during the quarter. Dimensional Fund Advisors LP owned 5.20% of Malibu Boats worth $25,067,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MBUU. Parallel Advisors LLC bought a new stake in Malibu Boats during the first quarter worth $194,403,000. Wellington Management Group LLP boosted its holdings in shares of Malibu Boats by 27.1% in the 4th quarter. Wellington Management Group LLP now owns 1,688,099 shares of the company's stock valued at $47,621,000 after purchasing an additional 359,550 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Malibu Boats by 31.5% in the 2nd quarter. Bank of America Corp DE now owns 361,357 shares of the company's stock valued at $11,325,000 after purchasing an additional 86,526 shares during the last quarter. Twin Lions Management LLC increased its stake in shares of Malibu Boats by 8.2% in the 4th quarter. Twin Lions Management LLC now owns 1,138,053 shares of the company's stock valued at $32,104,000 after purchasing an additional 85,951 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Malibu Boats by 24.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 429,732 shares of the company's stock worth $12,123,000 after buying an additional 85,422 shares in the last quarter. 91.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on MBUU. Weiss Ratings downgraded Malibu Boats from a "sell (d)" rating to a "sell (e+)" rating in a research report on Monday, May 11th. DA Davidson reiterated a "neutral" rating and issued a $30.00 target price on shares of Malibu Boats in a research report on Monday, June 15th. Zacks Research downgraded Malibu Boats from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 9th. Truist Financial increased their target price on shares of Malibu Boats from $31.00 to $34.00 and gave the stock a "hold" rating in a report on Monday, July 6th. Finally, Wall Street Zen upgraded shares of Malibu Boats from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $31.60.

Malibu Boats Price Performance

Shares of NASDAQ:MBUU opened at $29.28 on Thursday. The firm has a market cap of $575.06 million, a PE ratio of -488.00 and a beta of 1.13. The firm's fifty day moving average is $27.38 and its 200-day moving average is $27.86. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.44 and a current ratio of 1.31. Malibu Boats, Inc. has a 52 week low of $23.84 and a 52 week high of $39.65.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.27. The business had revenue of $235.70 million during the quarter, compared to the consensus estimate of $203.46 million. Malibu Boats had a positive return on equity of 3.28% and a negative net margin of 0.11%.Malibu Boats's quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. Sell-side analysts predict that Malibu Boats, Inc. will post 1.34 earnings per share for the current year.

About Malibu Boats

Malibu Boats, Inc is a leading designer, manufacturer and distributor of performance sport boats for the recreational boating market. The company's product portfolio includes the premium Malibu® brand and the value-oriented Axis® Wake Research line, as well as Cobalt® boats following its 2020 acquisition. Malibu's vessels are engineered to serve water-sports enthusiasts, with models optimized for wakeboarding, wakesurfing and waterskiing.

Founded in 1982 by water-sports enthusiast Jack Springer, Malibu Boats is headquartered in Loudon, Tennessee.

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