Malibu Boats, Inc. $MBUU Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its holdings in Malibu Boats by 7.4%, selling 16,088 shares and maintaining ownership of 202,626 shares valued at approximately $6.2 million.
• Institutional investors own 91.35% of Malibu Boats stock, with several firms making significant adjustments to their positions recently.
• Malibu Boats reported $0.42 EPS for the last quarter, missing estimates by $0.02, while its revenue surged by 30.4% year-over-year.

Raymond James Financial Inc. cut its holdings in shares of Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 202,626 shares of the company's stock after selling 16,088 shares during the period. Raymond James Financial Inc. owned approximately 1.03% of Malibu Boats worth $6,216,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Malibu Boats by 10.0% in the 4th 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 during the period. Northern Trust Corp increased its holdings in shares of Malibu Boats by 7.2% during the fourth quarter. Northern Trust Corp now owns 196,253 shares of the company's stock worth $7,377,000 after buying an additional 13,113 shares in the last quarter. Jane Street Group LLC lifted its holdings in Malibu Boats by 145.9% during the 4th quarter. Jane Street Group LLC now owns 31,484 shares of the company's stock worth $1,183,000 after buying an additional 18,683 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Malibu Boats by 0.7% in the fourth quarter. Ameriprise Financial Inc. now owns 123,094 shares of the company's stock valued at $4,627,000 after acquiring an additional 815 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Malibu Boats by 20.8% in the fourth quarter. Bank of America Corp DE now owns 302,864 shares of the company's stock worth $11,385,000 after purchasing an additional 52,160 shares during the period. Institutional investors and hedge funds own 91.35% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Zacks Research cut Malibu Boats from a "hold" rating to a "strong sell" rating in a report on Thursday. DA Davidson reduced their price objective on Malibu Boats from $33.00 to $31.00 and set a "neutral" rating on the stock in a research report on Monday. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $36.00.

Malibu Boats Stock Down 1.7%

Shares of NASDAQ:MBUU traded down $0.57 on Monday, hitting $33.09. 83,880 shares of the company traded hands, compared to its average volume of 178,991. Malibu Boats, Inc. has a 52 week low of $24.42 and a 52 week high of $47.82. The stock has a 50 day simple moving average of $34.60 and a 200-day simple moving average of $31.88. The company has a market cap of $636.98 million, a PE ratio of 42.84 and a beta of 1.20. The company has a quick ratio of 0.58, a current ratio of 1.63 and a debt-to-equity ratio of 0.03.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last released its quarterly earnings data on Thursday, August 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). Malibu Boats had a net margin of 1.84% and a return on equity of 4.93%. The company had revenue of $207.04 million for the quarter, compared to the consensus estimate of $195.28 million. During the same quarter in the previous year, the business earned ($0.39) EPS. The company's quarterly revenue was up 30.4% on a year-over-year basis. As a group, research 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.