Malibu Boats, Inc. (NASDAQ:MBUU) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in Malibu Boats, Inc. (NASDAQ:MBUU) by 8.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 576,070 shares of the company’s stock after acquiring an additional 43,769 shares during the quarter. Geode Capital Management LLC’s holdings in Malibu Boats were worth $22,361,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Studio Investment Management LLC increased its position 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 acquiring an additional 513 shares during the last quarter. nVerses Capital LLC acquired a new stake in Malibu Boats during the 3rd quarter valued at approximately $74,000. Benjamin Edwards Inc. increased its holdings in Malibu Boats by 43.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 5,112 shares of the company’s stock worth $179,000 after purchasing an additional 1,539 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Malibu Boats by 31.6% in the 3rd quarter. SG Americas Securities LLC now owns 5,212 shares of the company’s stock valued at $202,000 after purchasing an additional 1,252 shares in the last quarter. Finally, US Bancorp DE boosted its stake in shares of Malibu Boats by 851.7% during the 3rd quarter. US Bancorp DE now owns 5,434 shares of the company’s stock valued at $211,000 after buying an additional 4,863 shares during the last quarter. 91.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on MBUU shares. Robert W. Baird lifted their price target on shares of Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. KeyCorp increased their price target on shares of Malibu Boats from $38.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Truist Financial lifted their price target on Malibu Boats from $32.00 to $42.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Benchmark restated a “buy” rating and set a $44.00 price objective on shares of Malibu Boats in a research note on Friday, November 1st. Finally, DA Davidson lowered Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 target price for the company. in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Malibu Boats has an average rating of “Hold” and a consensus target price of $44.57.

Malibu Boats Stock Performance

Shares of MBUU stock opened at $36.59 on Friday. The company has a market cap of $721.37 million, a P/E ratio of -9.19 and a beta of 1.30. The business has a 50 day moving average of $41.89 and a two-hundred day moving average of $38.44. Malibu Boats, Inc. has a 52 week low of $30.20 and a 52 week high of $55.70. The company has a quick ratio of 0.52, a current ratio of 1.55 and a debt-to-equity ratio of 0.05.

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

Malibu Boats Company 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.