Allspring Global Investments Holdings LLC Decreases Stock Position in Malibu Boats, Inc. (NASDAQ:MBUU)

Allspring Global Investments Holdings LLC cut its holdings in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 47.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,878 shares of the company's stock after selling 57,833 shares during the period. Allspring Global Investments Holdings LLC owned 0.33% of Malibu Boats worth $1,960,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in MBUU. Heck Capital Advisors LLC bought a new stake in Malibu Boats in the 4th quarter worth approximately $38,000. Quarry LP bought a new position in shares of Malibu Boats during the 4th quarter valued at approximately $45,000. KLP Kapitalforvaltning AS bought a new position in shares of Malibu Boats during the 4th quarter valued at approximately $150,000. GAMMA Investing LLC increased its position in shares of Malibu Boats by 2,154.4% during the 1st quarter. GAMMA Investing LLC now owns 4,847 shares of the company's stock valued at $158,000 after purchasing an additional 4,632 shares during the last quarter. Finally, ProShare Advisors LLC bought a new position in shares of Malibu Boats during the 4th quarter valued at approximately $207,000. 91.35% of the stock is owned by hedge funds and other institutional investors.

Malibu Boats Trading Up 2.2%

Malibu Boats stock traded up $0.74 during mid-day trading on Tuesday, hitting $34.73. The company's stock had a trading volume of 126,916 shares, compared to its average volume of 183,336. The company has a 50 day moving average of $31.39 and a 200-day moving average of $32.53. The stock has a market cap of $666.47 million, a PE ratio of -84.71 and a beta of 1.14. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.61 and a current ratio of 1.60. Malibu Boats, Inc. has a one year low of $24.42 and a one year high of $47.82.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.06. Malibu Boats had a positive return on equity of 1.66% and a negative net margin of 1.19%. The business had revenue of $228.66 million for the quarter, compared to the consensus estimate of $226.44 million. During the same quarter in the prior year, the company earned $0.63 EPS. The business's revenue was up 12.4% compared to the same quarter last year. On average, research analysts anticipate that Malibu Boats, Inc. will post 1.69 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on MBUU. Wall Street Zen raised Malibu Boats from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. Baird R W downgraded Malibu Boats from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Truist Financial cut their target price on Malibu Boats from $38.00 to $28.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. DA Davidson started coverage on Malibu Boats in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $33.00 price objective on the stock. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $32.00 price objective (down previously from $50.00) on shares of Malibu Boats in a research report on Friday, April 4th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $36.17.

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.