Wellington Management Group LLP Buys 56,629 Shares of Malibu Boats, Inc. (NASDAQ:MBUU)

Wellington Management Group LLP boosted its position in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,533,605 shares of the company's stock after buying an additional 56,629 shares during the period. Wellington Management Group LLP owned approximately 7.81% of Malibu Boats worth $57,648,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Heck Capital Advisors LLC acquired a new position in shares of Malibu Boats during the 4th quarter worth $38,000. Quarry LP purchased a new stake in Malibu Boats in the 4th quarter valued at about $45,000. KLP Kapitalforvaltning AS purchased a new stake in Malibu Boats in the 4th quarter valued at about $150,000. ProShare Advisors LLC purchased a new stake in shares of Malibu Boats during the 4th quarter worth about $207,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Malibu Boats by 518.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,966 shares of the company's stock worth $224,000 after purchasing an additional 5,001 shares during the period. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

Malibu Boats Trading Down 1.7%

MBUU traded down $0.52 during trading on Monday, reaching $29.63. The company had a trading volume of 77,611 shares, compared to its average volume of 206,056. Malibu Boats, Inc. has a 12-month low of $24.43 and a 12-month high of $47.82. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52. The company has a market cap of $568.53 million, a price-to-earnings ratio of -6.81 and a beta of 1.23. The firm's 50-day simple moving average is $29.23 and its 200 day simple moving average is $34.35.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.06. Malibu Boats had a positive return on equity of 1.04% and a negative net margin of 12.09%. The firm had revenue of $228.66 million during the quarter, compared to analyst estimates of $226.44 million. During the same period last year, the company posted $0.63 EPS. The business's quarterly revenue was up 12.4% compared to the same quarter last year. Equities research analysts anticipate that Malibu Boats, Inc. will post 1.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

MBUU has been the subject of a number of analyst reports. Baird R W cut Malibu Boats from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. B. Riley raised Malibu Boats to a "hold" rating in a research report on Wednesday, February 12th. KeyCorp lowered Malibu Boats from an "overweight" rating to a "sector weight" rating in a research report on Thursday, March 20th. Benchmark reaffirmed a "buy" rating and issued a $44.00 target price on shares of Malibu Boats in a research report on Tuesday, February 4th. Finally, Truist Financial lowered their price target on Malibu Boats from $38.00 to $28.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $38.17.

About Malibu Boats

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.