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

The Manufacturers Life Insurance Company lowered its holdings in shares of Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 98.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 SEC filing.

Other large investors have also recently bought and sold shares of the company. Heck Capital Advisors LLC purchased a new stake in shares of Malibu Boats in the fourth quarter valued at about $38,000. Quarry LP purchased a new position in shares of Malibu Boats during the fourth quarter worth about $45,000. KLP Kapitalforvaltning AS acquired a new position in Malibu Boats in the 4th quarter valued at about $150,000. Tower Research Capital LLC TRC raised its stake in Malibu Boats by 518.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,966 shares of the company's stock valued at $224,000 after acquiring an additional 5,001 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Malibu Boats during the 4th quarter worth approximately $235,000. Institutional investors and hedge funds own 91.35% of the company's stock.

Malibu Boats Price Performance

NASDAQ:MBUU traded down $0.03 during trading hours on Thursday, hitting $30.03. The company's stock had a trading volume of 99,975 shares, compared to its average volume of 211,690. The business's 50-day moving average is $29.27 and its two-hundred day moving average is $35.10. The company has a market capitalization of $576.31 million, a PE ratio of -6.90 and a beta of 1.23. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52. Malibu Boats, Inc. has a 52-week low of $24.43 and a 52-week 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 for the quarter, topping analysts' consensus estimates of $0.66 by $0.06. Malibu Boats had a negative net margin of 12.09% and a positive return on equity of 1.04%. The business had revenue of $228.66 million for the quarter, compared to analysts' expectations of $226.44 million. During the same period in the prior year, the company posted $0.63 EPS. The business's revenue for the quarter was up 12.4% on a year-over-year basis. As a group, research analysts anticipate that Malibu Boats, Inc. will post 1.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. KeyCorp lowered Malibu Boats from an "overweight" rating to a "sector weight" rating in a report on Thursday, March 20th. Truist Financial lowered their price objective on shares of Malibu Boats from $38.00 to $28.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Benchmark restated a "buy" rating and set a $44.00 price objective on shares of Malibu Boats in a research report on Tuesday, February 4th. DA Davidson upgraded shares of Malibu Boats to a "hold" rating in a research note on Monday, April 14th. Finally, B. Riley raised shares of Malibu Boats to a "hold" rating in a report on Wednesday, February 12th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $38.17.

Malibu Boats Company 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.