Russell Investments Group Ltd. Raises Holdings in Malibu Boats, Inc. $MBUU

Key Points

• Russell Investments Group Ltd. increased its stake in Malibu Boats, Inc. by 233.3% to a total of 15,790 shares, valuing their holdings at $484,000.
• Institutional investors and hedge funds collectively own 91.35% of Malibu Boats, which is significant for the company's stock stability.
• Malibu Boats reported quarterly earnings of $0.42 per share, missing estimates, but showed a 30.4% year-over-year revenue growth.

Russell Investments Group Ltd. increased its position in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 233.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,790 shares of the company's stock after acquiring an additional 11,053 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of Malibu Boats worth $484,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Malibu Boats in the 1st quarter worth approximately $895,000. Exchange Traded Concepts LLC grew its holdings in shares of Malibu Boats by 58.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 12,640 shares of the company's stock worth $388,000 after acquiring an additional 4,663 shares during the period. Bank of America Corp DE grew its holdings in shares of Malibu Boats by 20.8% in the 4th quarter. Bank of America Corp DE now owns 302,864 shares of the company's stock worth $11,385,000 after acquiring an additional 52,160 shares during the period. Northern Trust Corp grew its holdings in shares of Malibu Boats by 7.2% in the 4th quarter. Northern Trust Corp now owns 196,253 shares of the company's stock worth $7,377,000 after acquiring an additional 13,113 shares during the period. Finally, Vanguard Group Inc. grew its holdings 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 worth $37,315,000 after acquiring an additional 18,187 shares during the period. Institutional investors and hedge funds own 91.35% of the company's stock.

Wall Street Analysts Forecast Growth

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

Malibu Boats Trading Up 2.6%

Shares of Malibu Boats stock traded up $0.84 during trading hours on Thursday, reaching $32.58. 75,452 shares of the company's stock were exchanged, compared to its average volume of 178,198. Malibu Boats, Inc. has a 52-week low of $24.42 and a 52-week high of $47.82. The firm has a market capitalization of $627.07 million, a price-to-earnings ratio of 42.31 and a beta of 1.20. The company has a fifty day moving average of $34.54 and a 200-day moving average of $31.99. The company has a current ratio of 1.63, a quick ratio of 0.61 and a debt-to-equity ratio of 0.03.

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