Allspring Global Investments Holdings LLC Acquires 21,626 Shares of Malibu Boats, Inc. (NASDAQ:MBUU)

Allspring Global Investments Holdings LLC grew its holdings in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 27.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,207 shares of the company’s stock after purchasing an additional 21,626 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.49% of Malibu Boats worth $4,294,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Cooke & Bieler LP raised its position in shares of Malibu Boats by 35.2% in the fourth quarter. Cooke & Bieler LP now owns 920,761 shares of the company’s stock valued at $50,476,000 after purchasing an additional 239,707 shares during the period. Invesco Ltd. lifted its position in Malibu Boats by 272.7% during the 3rd quarter. Invesco Ltd. now owns 127,109 shares of the company’s stock worth $6,231,000 after acquiring an additional 93,004 shares during the last quarter. Ziegler Capital Management LLC bought a new stake in Malibu Boats during the fourth quarter valued at about $2,956,000. Wellington Management Group LLP boosted its holdings in Malibu Boats by 315.0% during the fourth quarter. Wellington Management Group LLP now owns 64,741 shares of the company’s stock valued at $3,549,000 after acquiring an additional 49,141 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH grew its position in shares of Malibu Boats by 14.7% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 365,540 shares of the company’s stock valued at $20,039,000 after purchasing an additional 46,714 shares during the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. KeyCorp cut their price target on Malibu Boats from $50.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. B. Riley dropped their price objective on shares of Malibu Boats from $45.00 to $39.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Robert W. Baird decreased their target price on Malibu Boats from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. StockNews.com raised Malibu Boats from a “sell” rating to a “hold” rating in a report on Monday, June 17th. Finally, Raymond James lowered Malibu Boats from an “outperform” rating to a “market perform” rating in a report on Monday, April 15th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.14.

Malibu Boats Price Performance

Shares of Malibu Boats stock traded down $0.19 during midday trading on Tuesday, hitting $33.58. 7,235 shares of the company were exchanged, compared to its average volume of 266,869. The firm has a 50 day simple moving average of $35.58 and a 200-day simple moving average of $42.23. Malibu Boats, Inc. has a 52 week low of $31.47 and a 52 week high of $60.72. The firm has a market cap of $686.38 million, a P/E ratio of -12.65 and a beta of 1.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.67 and a quick ratio of 0.66.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Thursday, May 2nd. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.40 by $0.14. The company had revenue of $203.42 million for the quarter, compared to the consensus estimate of $205.83 million. Malibu Boats had a negative net margin of 5.19% and a positive return on equity of 18.01%. Research analysts forecast that Malibu Boats, Inc. will post 1.84 earnings per share for the current year.

Insiders Place Their Bets

In other Malibu Boats news, Director Mark W. Lanigan bought 20,000 shares of Malibu Boats stock in a transaction dated Monday, May 6th. The shares were acquired at an average cost of $33.43 per share, with a total value of $668,600.00. Following the acquisition, the director now directly owns 73,368 shares of the company’s stock, valued at $2,452,692.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.62% of the company’s stock.

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.