Empowered Funds LLC Acquires Shares of 89,548 Malibu Boats, Inc. $MBUU

Key Points

• Empowered Funds LLC acquired 89,548 shares of Malibu Boats, valued at approximately $2.32 million, representing about 0.46% of the company. Institutional investors collectively own 91.35% of MBUU.
• Malibu Boats reported quarterly EPS of $0.56, exceeding the $0.29 analyst consensus, while revenue of $235.7 million also surpassed estimates and rose 3.1% year over year.
• Analysts maintain a generally cautious outlook, with the stock carrying an average “Hold” rating and an average price target of $31.60.

Empowered Funds LLC bought a new position in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 89,548 shares of the company's stock, valued at approximately $2,321,000. Empowered Funds LLC owned about 0.46% of Malibu Boats as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC bought a new stake in shares of Malibu Boats during the first quarter valued at approximately $194,403,000. Wellington Management Group LLP lifted its position in 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 acquiring an additional 359,550 shares in the last quarter. Bank of America Corp DE lifted its position in 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 acquiring an additional 86,526 shares in the last quarter. Twin Lions Management LLC boosted its stake in Malibu Boats by 8.2% during 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. boosted its stake in Malibu Boats by 24.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 429,732 shares of the company's stock valued at $12,123,000 after purchasing an additional 85,422 shares during the last quarter. Institutional investors own 91.35% of the company's stock.

Malibu Boats Stock Up 0.1%

MBUU stock opened at $29.28 on Thursday. The company has a market cap of $575.06 million, a price-to-earnings ratio of -488.00 and a beta of 1.13. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.44 and a current ratio of 1.31. The business's 50-day moving average is $27.38 and its two-hundred day moving average is $27.86. Malibu Boats, Inc. has a fifty-two week low of $23.84 and a fifty-two week high of $39.65.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.56 earnings per share (EPS) 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%.The business's quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 EPS. As a group, analysts forecast that Malibu Boats, Inc. will post 1.34 earnings per share for the current year.

Analysts Set New Price Targets

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

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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