The Manufacturers Life Insurance Company Lowers Stake in Malibu Boats, Inc. (NASDAQ:MBUU)

The Manufacturers Life Insurance Company lessened its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 98.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,346 shares of the company's stock after selling 626,944 shares during the period. The Manufacturers Life Insurance Company's holdings in Malibu Boats were worth $276,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MBUU. Heck Capital Advisors LLC purchased a new stake in shares of Malibu Boats in the 4th quarter valued at $38,000. Quarry LP purchased a new stake in shares of Malibu Boats in the 4th quarter valued at $45,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Malibu Boats in the 4th quarter valued at $150,000. Tower Research Capital LLC TRC boosted its stake in shares of Malibu Boats by 518.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,966 shares of the company's stock valued at $224,000 after purchasing an additional 5,001 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Malibu Boats in the 4th quarter valued at $235,000. Institutional investors own 91.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Baird R W cut shares of Malibu Boats from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. DA Davidson raised shares of Malibu Boats to a "hold" rating in a research report on Monday, April 14th. Truist Financial dropped their price target on shares of Malibu Boats from $38.00 to $28.00 and set a "hold" rating for the company in a research report on Monday, April 14th. KeyCorp cut shares of Malibu Boats from an "overweight" rating to a "sector weight" rating in a research report on Thursday, March 20th. Finally, Benchmark reissued a "buy" rating and set a $44.00 price target on shares of Malibu Boats in a research report on Tuesday, February 4th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Malibu Boats currently has an average rating of "Hold" and an average price target of $38.17.

Malibu Boats Stock Down 1.5%

MBUU traded down $0.46 during trading on Friday, reaching $29.57. The stock had a trading volume of 110,464 shares, compared to its average volume of 209,445. The company has a current ratio of 1.52, a quick ratio of 0.45 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $567.48 million, a price-to-earnings ratio of -6.80 and a beta of 1.23. The stock's 50 day moving average is $29.22 and its two-hundred day moving average is $34.85. Malibu Boats, Inc. has a one year low of $24.43 and a one year high of $47.82.

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

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.