Malibu Boats, Inc. $MBUU Stock Sold by Cooke & Bieler LP

Key Points

• Cooke & Bieler LP reduced its Malibu Boats stake by 13.9% in the third quarter, selling 153,061 shares and retaining 950,881 shares valued at approximately $21.8 million. Institutional investors collectively own 91.35% of the company.
• Analyst sentiment is mixed but leans toward caution: two analysts rate the stock Buy, five Hold, and one Sell, producing a consensus Hold rating and an average price target of $31.60.
• Malibu Boats reported stronger-than-expected quarterly results, with earnings of $0.92 per share versus $0.78 expected and revenue of $295.54 million, up 42.8% year over year. The stock opened at $21.84, near its 52-week low of $21.16.

Cooke & Bieler LP trimmed its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 13.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 950,881 shares of the company's stock after selling 153,061 shares during the period. Cooke & Bieler LP owned 4.83% of Malibu Boats worth $21,794,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in shares of Malibu Boats during the 2nd quarter valued at $35,000. Central Pacific Bank Trust Division boosted its holdings in Malibu Boats by 13.5% in the 2nd quarter. Central Pacific Bank Trust Division now owns 5,304 shares of the company's stock worth $145,000 after buying an additional 630 shares during the period. WINTON GROUP Ltd purchased a new stake in Malibu Boats in the 2nd quarter worth $206,000. Hennion & Walsh Asset Management Inc. purchased a new stake in Malibu Boats in the 2nd quarter worth $222,000. Finally, AXQ Capital LP purchased a new stake in Malibu Boats in the 2nd quarter worth $272,000. 91.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MBUU has been the topic of a number of recent analyst reports. Raymond James Financial reissued a "market perform" rating on shares of Malibu Boats in a report on Monday, August 31st. Benchmark restated a "buy" rating on shares of Malibu Boats in a research report on Friday, August 28th. Weiss Ratings raised Malibu Boats from a "sell (e+)" rating to a "sell (d)" rating in a research note on Thursday, August 27th. Zacks Research cut Malibu Boats from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 9th. Finally, Truist Financial increased 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. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Malibu Boats has a consensus rating of "Hold" and an average target price of $31.60.

Malibu Boats Trading Down 1.2%

Malibu Boats stock opened at $21.84 on Thursday. Malibu Boats, Inc. has a 1 year low of $21.16 and a 1 year high of $34.97. The firm's 50 day moving average price is $25.04 and its 200-day moving average price is $26.31. 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 stock has a market cap of $429.81 million, a P/E ratio of 17.54 and a beta of 1.19.

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

About Malibu Boats

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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