Empowered Funds LLC Has $2.59 Million Position in Malibu Boats, Inc. (NASDAQ:MBUU)

Empowered Funds LLC raised its stake in Malibu Boats, Inc. (NASDAQ:MBUU) by 38.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,606 shares of the company’s stock after purchasing an additional 18,636 shares during the period. Empowered Funds LLC owned 0.34% of Malibu Boats worth $2,585,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MBUU. Studio Investment Management LLC increased its holdings in shares of Malibu Boats by 264.4% in the second quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock valued at $25,000 after purchasing an additional 513 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Malibu Boats in the third quarter valued at $74,000. EntryPoint Capital LLC acquired a new position in shares of Malibu Boats in the first quarter valued at $84,000. SG Americas Securities LLC acquired a new position in shares of Malibu Boats in the second quarter valued at about $139,000. Finally, Benjamin Edwards Inc. grew its stake in shares of Malibu Boats by 43.1% in the second quarter. Benjamin Edwards Inc. now owns 5,112 shares of the company’s stock valued at $179,000 after acquiring an additional 1,539 shares in the last quarter. 91.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MBUU shares. Truist Financial upped their price target on shares of Malibu Boats from $32.00 to $42.00 and gave the company a “hold” rating in a research note on Friday, November 1st. StockNews.com upgraded shares of Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. DA Davidson downgraded shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research note on Friday, November 1st. Robert W. Baird upped their price target on shares of Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Benchmark restated a “buy” rating and issued a $44.00 price target on shares of Malibu Boats in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $44.57.

Malibu Boats Stock Down 1.6 %

MBUU stock opened at $40.35 on Wednesday. The stock has a market capitalization of $795.70 million, a P/E ratio of -10.14 and a beta of 1.36. The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. Malibu Boats, Inc. has a 12 month low of $30.20 and a 12 month high of $56.03. The firm has a 50-day moving average price of $40.67 and a 200-day moving average price of $37.38.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, October 31st. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.16. The firm had revenue of $171.60 million during the quarter, compared to analysts’ expectations of $165.33 million. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. The business’s revenue for the quarter was down 32.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 earnings per share. As a group, equities research analysts anticipate that Malibu Boats, Inc. will post 2.01 EPS for the current fiscal 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.