American Century Companies Inc. Has $23.72 Million Position in Malibu Boats, Inc. (NASDAQ:MBUU)

American Century Companies Inc. cut its position in Malibu Boats, Inc. (NASDAQ:MBUU) by 39.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 676,979 shares of the company’s stock after selling 448,966 shares during the quarter. American Century Companies Inc. owned 3.31% of Malibu Boats worth $23,721,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MBUU. Studio Investment Management LLC lifted its holdings in Malibu Boats by 264.4% during the 2nd quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock worth $25,000 after buying an additional 513 shares during the period. EntryPoint Capital LLC bought a new stake in Malibu Boats in the first quarter valued at approximately $84,000. SG Americas Securities LLC acquired a new stake in Malibu Boats during the 2nd quarter valued at approximately $139,000. Central Pacific Bank Trust Division acquired a new stake in Malibu Boats during the 1st quarter valued at approximately $142,000. Finally, Benjamin Edwards Inc. raised its holdings in Malibu Boats by 36.5% during the 1st quarter. Benjamin Edwards Inc. now owns 3,573 shares of the company’s stock worth $155,000 after purchasing an additional 955 shares during the last quarter. 91.35% of the stock is owned by institutional investors and hedge funds.

Malibu Boats Price Performance

Shares of Malibu Boats stock opened at $39.95 on Friday. The business has a 50-day simple moving average of $36.23 and a 200 day simple moving average of $36.80. The firm has a market capitalization of $816.58 million, a price-to-earnings ratio of -14.96 and a beta of 1.38. Malibu Boats, Inc. has a one year low of $30.20 and a one year high of $56.03.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, August 29th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.07). Malibu Boats had a negative net margin of 6.74% and a positive return on equity of 6.21%. The firm had revenue of $158.70 million for the quarter, compared to the consensus estimate of $157.54 million. During the same quarter in the prior year, the firm earned $2.96 EPS. The company’s revenue was down 57.4% compared to the same quarter last year. On average, sell-side analysts expect that Malibu Boats, Inc. will post 1.98 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. DA Davidson reiterated a “buy” rating and set a $45.00 price objective on shares of Malibu Boats in a research report on Tuesday, September 10th. Truist Financial reissued a “hold” rating and issued a $32.00 price objective on shares of Malibu Boats in a research report on Monday, July 8th. B. Riley cut their target price on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, StockNews.com downgraded Malibu Boats from a “hold” rating to a “sell” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Malibu Boats presently has an average rating of “Hold” and an average target price of $40.00.

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.