Malibu Boats, Inc. $MBUU Stock Holdings Boosted by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in Malibu Boats by 4.5%, owning 1,601,959 shares valued at approximately $49.1 million as of the latest reporting period.
• Malibu Boats has seen significant activity from institutional investors, with 91.35% of its stock held by hedge funds and other institutions.
• The stock currently has a consensus rating of "Hold" with an analyst target price of $36.40, following a new coverage initiation by DA Davidson with a price target of $33.00.

Wellington Management Group LLP increased its stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 4.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,601,959 shares of the company's stock after buying an additional 68,354 shares during the quarter. Wellington Management Group LLP owned about 8.16% of Malibu Boats worth $49,148,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MBUU. Wells Fargo & Company MN raised its position in Malibu Boats by 7.9% during the 4th quarter. Wells Fargo & Company MN now owns 16,452 shares of the company's stock worth $618,000 after purchasing an additional 1,211 shares during the last quarter. Invesco Ltd. grew its stake in Malibu Boats by 2.4% in the 4th 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 in the last quarter. Tower Research Capital LLC TRC grew its position in Malibu Boats by 518.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,966 shares of the company's stock worth $224,000 after acquiring an additional 5,001 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position 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 worth $456,000 after buying an additional 1,103 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Malibu Boats during the fourth quarter valued at approximately $45,000. 91.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Malibu Boats Stock Performance

NASDAQ:MBUU traded up $0.40 during midday trading on Friday, reaching $33.20. The stock had a trading volume of 561,402 shares, 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 company has a quick ratio of 0.61, a current ratio of 1.60 and a debt-to-equity ratio of 0.05. The firm has a fifty day simple moving average of $34.53 and a two-hundred day simple moving average of $32.08. The stock has a market cap of $637.11 million, a P/E ratio of 43.12 and a beta of 1.12.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last released its earnings results on Thursday, August 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). Malibu Boats had a net margin of 1.84% and a return on equity of 4.93%. The firm had revenue of $207.04 million during the quarter, compared to analysts' expectations of $195.28 million. During the same quarter last year, the company posted ($0.39) earnings per share. Malibu Boats's revenue for the quarter was up 30.4% on a year-over-year basis. On average, equities analysts expect that Malibu Boats, Inc. will post 1.69 EPS for the current 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.