The Manufacturers Life Insurance Company Cuts Stock Position in Malibu Boats, Inc. (NASDAQ:MBUU)

The Manufacturers Life Insurance Company lessened its stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 98.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,346 shares of the company’s stock after selling 626,944 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Malibu Boats were worth $276,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MBUU. Twin Lions Management LLC purchased a new stake in shares of Malibu Boats during the fourth quarter worth approximately $19,807,000. Bank of New York Mellon Corp raised its position in Malibu Boats by 370.5% in the fourth quarter. Bank of New York Mellon Corp now owns 440,829 shares of the company’s stock worth $16,571,000 after acquiring an additional 347,144 shares in the last quarter. Lodge Hill Capital LLC raised its position in Malibu Boats by 74.6% in the fourth quarter. Lodge Hill Capital LLC now owns 530,514 shares of the company’s stock worth $19,942,000 after acquiring an additional 226,650 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Malibu Boats in the fourth quarter worth $8,221,000. Finally, Schroder Investment Management Group purchased a new position in Malibu Boats in the fourth quarter worth $6,888,000. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Stock Down 0.1%

Malibu Boats stock opened at $32.21 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52. The firm has a market capitalization of $618.14 million, a price-to-earnings ratio of -7.40 and a beta of 1.23. Malibu Boats, Inc. has a fifty-two week low of $24.43 and a fifty-two week high of $47.82. The stock’s fifty day moving average is $29.25 and its two-hundred day moving average is $35.24.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. Malibu Boats had a positive return on equity of 1.04% and a negative net margin of 12.09%. The business had revenue of $228.66 million for the quarter, compared to analyst estimates of $226.44 million. During the same quarter last year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. Analysts predict that Malibu Boats, Inc. will post 1.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MBUU shares. DA Davidson upgraded Malibu Boats to a “hold” rating in a research report on Monday, April 14th. KeyCorp lowered Malibu Boats from an “overweight” rating to a “sector weight” rating in a report on Thursday, March 20th. Robert W. Baird reissued a “neutral” rating and issued a $32.00 target price (down previously from $50.00) on shares of Malibu Boats in a report on Friday, April 4th. StockNews.com raised Malibu Boats from a “sell” rating to a “hold” rating in a report on Tuesday, April 15th. Finally, Baird R W lowered Malibu Boats from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $38.17.

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.