138,864 Shares in Malibu Boats, Inc. (NASDAQ:MBUU) Acquired by Lodge Hill Capital LLC

Lodge Hill Capital LLC acquired a new stake in Malibu Boats, Inc. (NASDAQ:MBUU) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 138,864 shares of the company’s stock, valued at approximately $4,866,000. Malibu Boats accounts for about 1.3% of Lodge Hill Capital LLC’s portfolio, making the stock its 19th biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of Malibu Boats by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 998,994 shares of the company’s stock valued at $54,765,000 after buying an additional 38,450 shares during the period. Hohimer Wealth Management LLC raised its stake in shares of Malibu Boats by 3.0% during the fourth quarter. Hohimer Wealth Management LLC now owns 10,438 shares of the company’s stock valued at $572,000 after acquiring an additional 301 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Malibu Boats by 1.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 435,541 shares of the company’s stock worth $23,876,000 after purchasing an additional 7,844 shares during the period. CastleKnight Management LP bought a new stake in shares of Malibu Boats in the fourth quarter worth $978,000. Finally, Dean Capital Management increased its holdings in Malibu Boats by 156.6% in the fourth quarter. Dean Capital Management now owns 11,965 shares of the company’s stock valued at $656,000 after purchasing an additional 7,303 shares during the period. Institutional investors and hedge funds own 91.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Truist Financial reaffirmed a “hold” rating and set a $32.00 target price on shares of Malibu Boats in a report on Monday, July 8th. DA Davidson reiterated a “buy” rating and issued a $45.00 target price on shares of Malibu Boats in a report on Tuesday, September 10th. B. Riley decreased their target price on shares of Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, StockNews.com downgraded shares of Malibu Boats from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Malibu Boats has a consensus rating of “Hold” and a consensus price target of $40.00.

Malibu Boats Stock Performance

Shares of MBUU stock opened at $39.57 on Friday. The company has a market cap of $808.81 million, a P/E ratio of -14.82 and a beta of 1.38. Malibu Boats, Inc. has a fifty-two week low of $30.20 and a fifty-two week high of $56.03. The stock has a 50 day simple moving average of $36.35 and a two-hundred day simple moving average of $36.78.

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

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.