Renaissance Technologies LLC Sells 86,001 Shares of Malibu Boats, Inc. (NASDAQ:MBUU)

Renaissance Technologies LLC trimmed its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 45.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,800 shares of the company’s stock after selling 86,001 shares during the period. Renaissance Technologies LLC owned 0.51% of Malibu Boats worth $3,637,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pzena Investment Management LLC bought a new stake in Malibu Boats in the 2nd quarter valued at $51,800,000. Lord Abbett & CO. LLC increased its holdings in Malibu Boats by 231.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 312,731 shares of the company’s stock valued at $13,535,000 after acquiring an additional 218,378 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Malibu Boats by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock valued at $39,661,000 after acquiring an additional 111,699 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Malibu Boats in the 2nd quarter valued at $3,667,000. Finally, Koss Olinger Consulting LLC bought a new stake in Malibu Boats in the 2nd quarter valued at $1,749,000. 91.35% of the stock is currently owned by institutional investors.

Malibu Boats Trading Up 2.1 %

Shares of NASDAQ:MBUU opened at $39.15 on Monday. The company has a market capitalization of $800.23 million, a price-to-earnings ratio of -14.66 and a beta of 1.38. Malibu Boats, Inc. has a 12 month low of $30.20 and a 12 month high of $56.03. The firm’s 50-day moving average is $36.44 and its 200 day moving average is $36.64.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, August 29th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.07). The firm had revenue of $158.70 million for 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 for the quarter was down 57.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.96 earnings per share. As a group, equities analysts forecast that Malibu Boats, Inc. will post 1.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MBUU. Truist Financial reiterated a “hold” rating and issued a $32.00 price target on shares of Malibu Boats in a report on Monday, July 8th. StockNews.com downgraded shares of Malibu Boats from a “hold” rating to a “sell” rating in a report on Friday, August 30th. B. Riley dropped their price objective on shares of Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, DA Davidson reissued a “buy” rating and issued a $45.00 price objective on shares of Malibu Boats in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Malibu Boats presently has an average rating of “Hold” and a consensus target price of $40.00.

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.