Vanguard Group Inc. Raises Stock Position in Malibu Boats, Inc. $MBUU

Key Points

• Vanguard Group Inc. has increased its holdings in Malibu Boats, purchasing an additional 18,187 shares to own around 6.19% of the company, valued at approximately $37.3 million.
• Malibu Boats' stock currently shows a market capitalization of $734.79 million, with share prices fluctuating between a 52-week low of $24.42 and a high of $47.82.
• Wall Street analysts have mostly issued a mixed outlook, with a consensus rating of "Hold" and a target price of $36.40 based on recent coverage by DA Davidson.

Vanguard Group Inc. increased its position in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 1.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,216,269 shares of the company's stock after acquiring an additional 18,187 shares during the quarter. Vanguard Group Inc. owned about 6.19% of Malibu Boats worth $37,315,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MBUU. Wells Fargo & Company MN increased its holdings in Malibu Boats by 7.9% in the 4th quarter. Wells Fargo & Company MN now owns 16,452 shares of the company's stock worth $618,000 after acquiring an additional 1,211 shares in the last quarter. Invesco Ltd. raised its position in shares of 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 buying an additional 1,141 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Malibu Boats by 518.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,966 shares of the company's stock valued at $224,000 after buying an additional 5,001 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of 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 buying an additional 1,103 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Malibu Boats during the fourth quarter valued at approximately $45,000. 91.35% of the stock is owned by hedge funds and other institutional investors.

Malibu Boats Trading Up 1.2%

Shares of NASDAQ:MBUU traded up $0.40 on Friday, hitting $33.20. 561,402 shares of the company's stock were exchanged, compared to its average volume of 165,500. Malibu Boats, Inc. has a 12 month low of $24.42 and a 12 month high of $47.82. The stock has a market capitalization of $637.14 million, a price-to-earnings ratio of 43.12 and a beta of 1.12. The business's 50 day simple moving average is $34.53 and its two-hundred day simple moving average is $32.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.60 and a quick ratio of 0.61.

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 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 the consensus estimate 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 quarter in the previous year, the firm earned ($0.39) earnings per share. Analysts anticipate that Malibu Boats, Inc. will post 1.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.