Assenagon Asset Management S.A. Trims Stock Holdings in Malibu Boats, Inc. (NASDAQ:MBUU)

Assenagon Asset Management S.A. lessened its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 13.9% during the 3rd quarter, Holdings Channel reports. The firm owned 90,054 shares of the company’s stock after selling 14,597 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Malibu Boats were worth $3,495,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in MBUU. Studio Investment Management LLC lifted its holdings in shares of Malibu Boats by 264.4% during the second quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock worth $25,000 after purchasing an additional 513 shares during the period. nVerses Capital LLC acquired a new stake in shares of Malibu Boats in the third quarter worth $74,000. EntryPoint Capital LLC purchased a new position in shares of Malibu Boats during the first quarter worth $84,000. Central Pacific Bank Trust Division acquired a new position in Malibu Boats during the first quarter valued at $142,000. Finally, SG Americas Securities LLC purchased a new stake in Malibu Boats in the second quarter valued at $139,000. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Stock Performance

NASDAQ:MBUU opened at $42.22 on Thursday. The company has a fifty day moving average of $38.63 and a two-hundred day moving average of $36.51. 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 market capitalization of $862.98 million, a PE ratio of -15.81 and a beta of 1.38.

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

Wall Street Analyst Weigh In

Several analysts recently commented on MBUU shares. B. Riley dropped their target price on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. 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. StockNews.com cut shares of Malibu Boats from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Finally, DA Davidson restated a “buy” rating and set a $45.00 price target on shares of Malibu Boats in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Malibu Boats currently has an average rating of “Hold” and a consensus 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.