Malibu Boats, Inc. $MBUU Shares Purchased by Pzena Investment Management LLC

Key Points

• Pzena Investment Management LLC increased its stake in Malibu Boats, Inc. by 8.9% in Q2, owning approximately 1,670,977 shares valued at $52.37 million.
• An analyst downgrade resulted in a new target price for Malibu Boats set at $31.00, with a consensus rating of "Reduce" and one "Buy" rating among multiple ratings.
• Malibu Boats reported $0.42 earnings per share for the latest quarter, missing expectations by $0.02, with revenue of $207.04 million, exceeding forecasts by 30.4% year-over-year.

Pzena Investment Management LLC increased its stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 8.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,670,977 shares of the company's stock after purchasing an additional 136,138 shares during the quarter. Pzena Investment Management LLC owned 8.71% of Malibu Boats worth $52,368,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Malibu Boats by 532.3% during the second quarter. GAMMA Investing LLC now owns 999 shares of the company's stock worth $31,000 after purchasing an additional 841 shares during the period. Strs Ohio acquired a new stake in Malibu Boats in the first quarter valued at $123,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Malibu Boats by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,590 shares of the company's stock valued at $356,000 after acquiring an additional 491 shares during the period. AQR Capital Management LLC lifted its holdings in Malibu Boats by 25.3% in the first quarter. AQR Capital Management LLC now owns 11,815 shares of the company's stock valued at $362,000 after acquiring an additional 2,389 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Malibu Boats in the first quarter valued at $365,000. 91.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on MBUU. DA Davidson reduced their target price on Malibu Boats from $33.00 to $31.00 and set a "neutral" rating for the company in a report on Monday, September 8th. Zacks Research downgraded Malibu Boats from a "hold" rating to a "strong sell" rating in a report on Thursday, September 4th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Malibu Boats in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $36.00.

Malibu Boats Trading Down 4.2%

Shares of MBUU stock opened at $28.71 on Monday. Malibu Boats, Inc. has a fifty-two week low of $24.42 and a fifty-two week high of $47.82. The stock has a market cap of $552.67 million, a P/E ratio of 37.29 and a beta of 1.20. The business has a fifty day simple moving average of $33.52 and a 200-day simple moving average of $31.95. The company has a quick ratio of 0.58, a current ratio of 1.63 and a debt-to-equity ratio of 0.03.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last announced its quarterly earnings results on Thursday, August 28th. The company reported $0.42 earnings per share 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 firm had revenue of $207.04 million during the quarter, compared to analysts' expectations of $195.28 million. During the same quarter in the prior year, the business earned ($0.39) EPS. The company's quarterly revenue was up 30.4% compared to the same quarter last year. On average, analysts forecast that Malibu Boats, Inc. will post 1.69 earnings per share for the current fiscal year.

Malibu Boats 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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