Charles Schwab Investment Management Inc. Cuts Stake in Malibu Boats, Inc. (NASDAQ:MBUU)

Charles Schwab Investment Management Inc. trimmed its stake in Malibu Boats, Inc. (NASDAQ:MBUU) by 6.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 170,662 shares of the company’s stock after selling 12,245 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Malibu Boats were worth $6,415,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. FMR LLC raised its stake in Malibu Boats by 8.2% during the third quarter. FMR LLC now owns 136,043 shares of the company’s stock worth $5,280,000 after purchasing an additional 10,276 shares during the period. De Lisle Partners LLP increased its holdings in shares of Malibu Boats by 6.0% during the 3rd quarter. De Lisle Partners LLP now owns 106,369 shares of the company’s stock worth $4,131,000 after buying an additional 6,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Malibu Boats by 60.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,879 shares of the company’s stock worth $267,000 after buying an additional 2,585 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Malibu Boats by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,711 shares of the company’s stock worth $1,735,000 after purchasing an additional 7,637 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in shares of Malibu Boats during the 3rd quarter worth about $878,000. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

Malibu Boats Trading Up 2.8 %

NASDAQ:MBUU opened at $30.39 on Tuesday. Malibu Boats, Inc. has a one year low of $29.02 and a one year high of $47.82. 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 stock has a market cap of $596.71 million, a price-to-earnings ratio of -6.99 and a beta of 1.42. The business’s 50-day simple moving average is $34.83 and its 200 day simple moving average is $38.34.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Malibu Boats had a negative net margin of 12.09% and a positive return on equity of 1.04%. As a group, sell-side analysts predict that Malibu Boats, Inc. will post 1.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MBUU has been the topic of several research reports. StockNews.com upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a report on Tuesday, March 11th. Truist Financial lifted their target price on shares of Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a report on Friday, January 31st. B. Riley raised Malibu Boats to a “hold” rating in a research report on Wednesday, February 12th. Benchmark restated a “buy” rating and issued a $44.00 price target on shares of Malibu Boats in a report on Tuesday, February 4th. Finally, KeyCorp lowered shares of Malibu Boats from an “overweight” rating to a “sector weight” rating in a research note on Thursday, March 20th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $42.83.

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.