Wellington Management Group LLP Raises Stock Holdings in Malibu Boats, Inc. (NASDAQ:MBUU)

Wellington Management Group LLP grew its stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 315.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,741 shares of the company’s stock after buying an additional 49,141 shares during the period. Wellington Management Group LLP’s holdings in Malibu Boats were worth $3,549,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in Malibu Boats during the fourth quarter valued at approximately $48,000. Benjamin Edwards Inc. lifted its stake in shares of Malibu Boats by 13.8% during the 4th quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock valued at $144,000 after buying an additional 318 shares in the last quarter. Andina Capital Management LLC bought a new stake in Malibu Boats during the fourth quarter valued at about $225,000. Hsbc Holdings PLC purchased a new position in shares of Malibu Boats in the third quarter valued at about $203,000. Finally, Quadrature Capital Ltd bought a new position in shares of Malibu Boats in the third quarter worth about $230,000. 91.35% of the stock is currently owned by institutional investors.

Malibu Boats Stock Up 0.7 %

Shares of NASDAQ MBUU opened at $35.04 on Monday. The firm’s 50-day moving average price is $35.59 and its 200-day moving average price is $42.35. The company has a current ratio of 1.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.03. Malibu Boats, Inc. has a 12-month low of $31.47 and a 12-month high of $60.72. The stock has a market capitalization of $716.22 million, a price-to-earnings ratio of -13.12 and a beta of 1.41.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.40 by $0.14. The company had revenue of $203.42 million during the quarter, compared to analyst estimates of $205.83 million. Malibu Boats had a negative net margin of 5.19% and a positive return on equity of 18.01%. On average, equities research analysts anticipate that Malibu Boats, Inc. will post 1.84 EPS for the current fiscal year.

Insider Activity at Malibu Boats

In other news, Director Mark W. Lanigan acquired 20,000 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $33.43 per share, with a total value of $668,600.00. Following the completion of the purchase, the director now directly owns 73,368 shares in the company, valued at $2,452,692.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.62% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Benchmark began coverage on Malibu Boats in a report on Wednesday, May 22nd. They issued a “buy” rating and a $44.00 price target on the stock. Robert W. Baird lowered their target price on shares of Malibu Boats from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. B. Riley cut their target price on shares of Malibu Boats from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. StockNews.com upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Monday, June 17th. Finally, Truist Financial cut their price objective on Malibu Boats from $52.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.14.

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.