Vanguard Group Inc. Buys 35,474 Shares of Malibu Boats, Inc. (NASDAQ:MBUU)

Vanguard Group Inc. increased its position in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,365,273 shares of the company's stock after purchasing an additional 35,474 shares during the quarter. Vanguard Group Inc. owned approximately 6.69% of Malibu Boats worth $66,926,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in Malibu Boats by 1.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 12,934 shares of the company's stock worth $682,000 after purchasing an additional 170 shares during the period. Public Employees Retirement System of Ohio increased its position in Malibu Boats by 44.7% in the third quarter. Public Employees Retirement System of Ohio now owns 560 shares of the company's stock worth $27,000 after purchasing an additional 173 shares during the period. Stifel Financial Corp increased its position in Malibu Boats by 2.4% in the first quarter. Stifel Financial Corp now owns 9,988 shares of the company's stock worth $564,000 after purchasing an additional 237 shares during the period. Bank of Montreal Can increased its position in Malibu Boats by 8.6% in the first quarter. Bank of Montreal Can now owns 3,766 shares of the company's stock worth $239,000 after purchasing an additional 298 shares during the period. Finally, HighTower Advisors LLC increased its position in Malibu Boats by 8.7% in the first quarter. HighTower Advisors LLC now owns 4,410 shares of the company's stock worth $247,000 after purchasing an additional 354 shares during the period. 91.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Malibu Boats

In other news, insider Michael K. Hooks bought 12,500 shares of the business's stock in a transaction on Thursday, February 22nd. The shares were purchased at an average price of $42.82 per share, for a total transaction of $535,250.00. Following the purchase, the insider now owns 12,500 shares of the company's stock, valued at approximately $535,250. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.62% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MBUU. Raymond James lowered their price objective on Malibu Boats from $59.00 to $46.00 and set an "outperform" rating for the company in a research report on Wednesday, January 31st. StockNews.com upgraded Malibu Boats from a "sell" rating to a "hold" rating in a research report on Monday, February 26th. B. Riley decreased their target price on Malibu Boats from $56.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, January 31st. Robert W. Baird restated an "outperform" rating and set a $54.00 target price on shares of Malibu Boats in a research report on Friday, January 19th. Finally, Truist Financial decreased their target price on Malibu Boats from $62.00 to $52.00 and set a "buy" rating for the company in a research report on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Malibu Boats presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.00.

Malibu Boats Stock Up 2.1 %

Shares of MBUU traded up $0.87 on Friday, hitting $43.01. The company's stock had a trading volume of 244,127 shares, compared to its average volume of 195,445. The company has a quick ratio of 0.69, a current ratio of 1.82 and a debt-to-equity ratio of 0.06. The firm's fifty day moving average price is $43.36 and its 200-day moving average price is $46.93. Malibu Boats, Inc. has a fifty-two week low of $37.70 and a fifty-two week high of $62.36. The firm has a market capitalization of $878.69 million, a price-to-earnings ratio of 13.79 and a beta of 1.37.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last issued its quarterly earnings data on Tuesday, January 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.10. Malibu Boats had a return on equity of 24.23% and a net margin of 5.32%. The business had revenue of $211.07 million during the quarter, compared to analyst estimates of $219.64 million. During the same period in the previous year, the firm earned $1.78 EPS. Malibu Boats's quarterly revenue was down 37.7% compared to the same quarter last year. On average, equities research analysts expect that Malibu Boats, Inc. will post 2.57 EPS 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.