Nuveen LLC Makes New $1.72 Million Investment in Malibu Boats, Inc. $MBUU

Key Points

• Nuveen LLC has acquired 55,961 shares in Malibu Boats, Inc. for approximately $1.717 million, representing about 0.29% ownership of the company.
• Several institutional investors, including Tybourne Capital Management and Janus Henderson Group, have significantly increased their stakes in Malibu Boats over the past quarters.
• Analysts have mixed views on Malibu Boats with a average rating of "Hold" and a price target range from $33.00 to $36.40 per share.

Nuveen LLC bought a new stake in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 55,961 shares of the company's stock, valued at approximately $1,717,000. Nuveen LLC owned about 0.29% of Malibu Boats at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Pzena Investment Management LLC lifted its holdings in Malibu Boats by 0.8% in the first quarter. Pzena Investment Management LLC now owns 1,534,839 shares of the company's stock valued at $47,089,000 after acquiring an additional 11,486 shares during the last quarter. Wellington Management Group LLP raised its position in Malibu Boats by 3.8% in the fourth quarter. Wellington Management Group LLP now owns 1,533,605 shares of the company's stock valued at $57,648,000 after purchasing an additional 56,629 shares during the period. Cooke & Bieler LP raised its position in Malibu Boats by 1.7% in the first quarter. Cooke & Bieler LP now owns 1,366,003 shares of the company's stock valued at $41,909,000 after purchasing an additional 22,343 shares during the period. Vanguard Group Inc. lifted its stake in shares of Malibu Boats by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 1,216,269 shares of the company's stock valued at $37,315,000 after purchasing an additional 18,187 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Malibu Boats by 31.6% during the 4th quarter. Janus Henderson Group PLC now owns 314,079 shares of the company's stock worth $11,807,000 after purchasing an additional 75,503 shares during the period. Institutional investors and hedge funds own 91.35% of the company's stock.

Analyst Upgrades and Downgrades

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

Malibu Boats Trading Down 0.7%

Shares of MBUU stock traded down $0.21 on Wednesday, hitting $32.03. The stock had a trading volume of 122,661 shares, compared to its average volume of 178,077. The company's 50 day moving average price is $34.54 and its 200-day moving average price is $31.99. Malibu Boats, Inc. has a 1 year low of $24.42 and a 1 year high of $47.82. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.63 and a quick ratio of 0.61. The firm has a market capitalization of $616.42 million, a P/E ratio of 41.55 and a beta of 1.20.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last released its earnings results on Thursday, August 28th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). The firm had revenue of $207.04 million during the quarter, compared to analyst estimates of $195.28 million. Malibu Boats had a net margin of 1.84% and a return on equity of 4.93%. The business's revenue was up 30.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.39) earnings per share. Analysts anticipate that Malibu Boats, Inc. will post 1.69 earnings per share for the current year.

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.