Malibu Boats, Inc. $MBUU Shares Bought by Meros Investment Management LP

Key Points

• Meros Investment Management LP increased its stake in Malibu Boats by 11.6%, now owning 117,941 shares worth approximately $3.6 million.
• Malibu Boats has caught the attention of multiple institutional investors, with a significant increase in stakes from companies like GAMMA Investing LLC and Tower Research Capital LLC.
• DA Davidson initiated coverage of Malibu Boats with a "neutral" rating and a target price of $33.00, reflecting an average "Hold" rating among analysts.

Meros Investment Management LP raised its stake in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 11.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 117,941 shares of the company's stock after purchasing an additional 12,218 shares during the quarter. Malibu Boats accounts for about 2.1% of Meros Investment Management LP's portfolio, making the stock its 22nd biggest position. Meros Investment Management LP owned approximately 0.60% of Malibu Boats worth $3,618,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. boosted its holdings in shares of Malibu Boats by 0.7% in the fourth quarter. Ameriprise Financial Inc. now owns 123,094 shares of the company's stock worth $4,627,000 after acquiring an additional 815 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of Malibu Boats in the fourth quarter worth $38,000. Price T Rowe Associates Inc. MD raised its position in Malibu Boats by 10.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,111 shares of the company's stock valued at $456,000 after purchasing an additional 1,103 shares in the last quarter. Invesco Ltd. raised its position in Malibu Boats by 2.4% during the fourth quarter. Invesco Ltd. now owns 49,005 shares of the company's stock valued at $1,842,000 after purchasing an additional 1,141 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Malibu Boats in the fourth quarter worth about $45,000. 91.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, DA Davidson began coverage on Malibu Boats in a report on Tuesday, June 3rd. They set a "neutral" rating and a $33.00 price target on the stock. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Malibu Boats currently has an average rating of "Hold" and a consensus target price of $36.40.

Malibu Boats Price Performance

Shares of MBUU traded down $0.15 during midday trading on Thursday, hitting $36.01. 24,021 shares of the company traded hands, compared to its average volume of 170,506. The firm has a 50 day moving average of $33.81 and a 200-day moving average of $32.11. Malibu Boats, Inc. has a 52 week low of $24.42 and a 52 week high of $47.82. The stock has a market cap of $691.03 million, a price-to-earnings ratio of -87.86 and a beta of 1.12. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.61 and a current ratio of 1.60.

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.