Pzena Investment Management LLC Grows Stock Holdings in Malibu Boats, Inc. (NASDAQ:MBUU)

Pzena Investment Management LLC grew its stake in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 0.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,534,839 shares of the company's stock after purchasing an additional 11,486 shares during the quarter. Pzena Investment Management LLC owned about 7.82% of Malibu Boats worth $47,089,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Heck Capital Advisors LLC bought a new position in Malibu Boats in the fourth quarter worth about $38,000. Quarry LP bought a new position in Malibu Boats in the fourth quarter worth about $45,000. KLP Kapitalforvaltning AS bought a new position in Malibu Boats in the fourth quarter worth about $150,000. GAMMA Investing LLC raised its stake in Malibu Boats by 2,154.4% in the first quarter. GAMMA Investing LLC now owns 4,847 shares of the company's stock worth $158,000 after buying an additional 4,632 shares in the last quarter. Finally, ProShare Advisors LLC bought a new position in Malibu Boats in the fourth quarter worth about $207,000. Institutional investors own 91.35% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Baird R W downgraded shares of Malibu Boats from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Truist Financial lowered their price objective on Malibu Boats from $38.00 to $28.00 and set a "hold" rating for the company in a research report on Monday, April 14th. DA Davidson started coverage on Malibu Boats in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $33.00 price objective for the company. Wall Street Zen raised Malibu Boats from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. Finally, KeyCorp lowered Malibu Boats from an "overweight" rating to a "sector weight" rating in a research report on Thursday, March 20th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $36.40.

Malibu Boats Stock Down 1.2%

Shares of MBUU traded down $0.41 during trading hours on Friday, hitting $32.91. The company had a trading volume of 117,113 shares, compared to its average volume of 194,556. The firm has a fifty day moving average price of $32.15 and a 200-day moving average price of $32.45. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.61 and a current ratio of 1.60. The stock has a market capitalization of $631.58 million, a price-to-earnings ratio of -80.27 and a beta of 1.14. 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 (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.06. Malibu Boats had a positive return on equity of 1.66% and a negative net margin of 1.19%. The firm had revenue of $228.66 million during the quarter, compared to analyst estimates of $226.44 million. During the same quarter in the previous year, the firm earned $0.63 EPS. Malibu Boats's quarterly revenue was up 12.4% compared to the same quarter last year. On average, equities research analysts forecast that Malibu Boats, Inc. will post 1.69 EPS for the current fiscal year.

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.