Allspring Global Investments Holdings LLC Lowers Stake in Malibu Boats, Inc. (NASDAQ:MBUU)

Allspring Global Investments Holdings LLC lowered its stake in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 43.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,581 shares of the company's stock after selling 59,519 shares during the period. Allspring Global Investments Holdings LLC owned 0.38% of Malibu Boats worth $4,253,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its position in Malibu Boats by 1.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 12,934 shares of the company's stock worth $682,000 after acquiring an additional 170 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Malibu Boats by 44.7% in the third quarter. Public Employees Retirement System of Ohio now owns 560 shares of the company's stock valued at $27,000 after buying an additional 173 shares during the period. Stifel Financial Corp raised its holdings in Malibu Boats by 2.4% in the 1st quarter. Stifel Financial Corp now owns 9,988 shares of the company's stock valued at $564,000 after buying an additional 237 shares during the last quarter. Bank of Montreal Can raised its holdings in Malibu Boats by 8.6% in the 1st quarter. Bank of Montreal Can now owns 3,766 shares of the company's stock valued at $239,000 after buying an additional 298 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position in Malibu Boats by 8.7% during the 1st quarter. HighTower Advisors LLC now owns 4,410 shares of the company's stock worth $247,000 after buying an additional 354 shares during the period. Institutional investors own 91.35% of the company's stock.

Insider Activity

In related news, insider Michael K. Hooks purchased 12,500 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The shares were acquired at an average price of $42.82 per share, for a total transaction of $535,250.00. Following the completion of the acquisition, the insider now directly owns 12,500 shares in the company, valued at approximately $535,250. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.62% of the company's stock.

Malibu Boats Price Performance

Shares of MBUU traded up $0.32 during mid-day trading on Friday, reaching $34.48. 538,603 shares of the stock traded hands, compared to its average volume of 244,433. The company has a current ratio of 1.82, a quick ratio of 0.69 and a debt-to-equity ratio of 0.06. Malibu Boats, Inc. has a 1 year low of $33.78 and a 1 year high of $62.36. The company has a market cap of $704.43 million, a price-to-earnings ratio of 11.05 and a beta of 1.37. The firm has a fifty day moving average price of $41.87 and a 200 day moving average price of $46.26.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.10. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The firm had revenue of $211.07 million for the quarter, compared to analyst estimates of $219.64 million. During the same quarter in the prior year, the firm earned $1.78 EPS. The business's revenue for the quarter was down 37.7% compared to the same quarter last year. As a group, equities research analysts predict that Malibu Boats, Inc. will post 2.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MBUU has been the topic of several research reports. Robert W. Baird restated an "outperform" rating and issued a $54.00 target price on shares of Malibu Boats in a research note on Friday, January 19th. KeyCorp lowered their price target on shares of Malibu Boats from $58.00 to $50.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 31st. Raymond James cut shares of Malibu Boats from an "outperform" rating to a "market perform" rating in a research note on Monday, April 15th. StockNews.com raised shares of Malibu Boats from a "sell" rating to a "hold" rating in a report on Monday, February 26th. Finally, Truist Financial cut their price target on Malibu Boats from $62.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Malibu Boats has an average rating of "Hold" and an average price target of $49.00.

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.