Malibu Boats, Inc. $MBUU Stock Purchased by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors increased its Malibu Boats stake by 10.6% in the third quarter, acquiring 82,777 additional shares and bringing its ownership to 4.4%. Institutional investors and hedge funds collectively own 91.35% of MBUU.
• Analyst sentiment remains mixed, with two Buy, five Hold and one Sell rating; the consensus rating is Hold with a $31.60 price target.
• Malibu Boats exceeded quarterly expectations, reporting $0.92 in EPS versus the $0.78 consensus and $295.54 million in revenue, up 42.8% year over year. Shares opened at $22.68, near the company’s $21.16 one-year low.

Fort Washington Investment Advisors Inc. OH increased its stake in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 10.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 865,239 shares of the company's stock after purchasing an additional 82,777 shares during the period. Fort Washington Investment Advisors Inc. OH owned 4.40% of Malibu Boats worth $19,831,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MBUU. Central Pacific Bank Trust Division boosted its holdings in shares of Malibu Boats by 11.9% during the third quarter. Central Pacific Bank Trust Division now owns 5,934 shares of the company's stock valued at $136,000 after acquiring an additional 630 shares during the period. WINTON GROUP Ltd bought a new position in shares of Malibu Boats during the second quarter worth about $206,000. Engineers Gate Manager LP bought a new position in shares of Malibu Boats during the second quarter worth about $1,033,000. Squarepoint Ops LLC bought a new position in shares of Malibu Boats during the second quarter worth about $316,000. Finally, AXQ Capital LP acquired a new stake in shares of Malibu Boats in the 2nd quarter worth about $272,000. Institutional investors and hedge funds own 91.35% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on MBUU shares. Weiss Ratings upgraded shares of Malibu Boats from a "sell (e+)" rating to a "sell (d)" rating in a research report on Thursday, August 27th. Raymond James Financial reissued a "market perform" rating on shares of Malibu Boats in a research note on Monday, August 31st. Benchmark restated a "buy" rating on shares of Malibu Boats in a research report on Friday, August 28th. Truist Financial raised their price target on shares of Malibu Boats from $31.00 to $34.00 and gave the company a "hold" rating in a research note on Monday, July 6th. Finally, Zacks Research lowered shares of Malibu Boats from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $31.60.

Malibu Boats Stock Up 5.5%

Shares of Malibu Boats stock opened at $22.68 on Friday. The business's fifty day moving average price is $25.62 and its two-hundred day moving average price is $26.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 0.60. The company has a market capitalization of $446.34 million, a P/E ratio of 17.06 and a beta of 1.19. Malibu Boats, Inc. has a 1-year low of $21.16 and a 1-year high of $34.97.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last announced its quarterly earnings results on Thursday, August 27th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.14. The company had revenue of $295.54 million during the quarter, compared to analyst estimates of $263.89 million. Malibu Boats had a return on equity of 4.78% and a net margin of 0.18%. The firm's quarterly revenue was up 42.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. As a group, research analysts forecast that Malibu Boats, Inc. will post 2.18 EPS for the current year.

Malibu Boats Company Profile

Malibu Boats, Inc is a recreational powerboat manufacturer headquartered in Loudon, Tennessee. Founded in 1982, the company designs and produces boats for water sports, cruising, fishing and general recreational use, selling its products through a network of independent dealers.

Its brand portfolio includes Malibu and Axis, which focus on wake and water-sports boats, as well as Pursuit, Maverick, Cobia, Pathfinder and Hewes, which offer a range of offshore, center-console and inshore fishing boats.

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