First Trust Advisors LP Reduces Stock Position in Malibu Boats, Inc. (NASDAQ:MBUU)

First Trust Advisors LP decreased its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 17.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,990 shares of the company’s stock after selling 3,488 shares during the quarter. First Trust Advisors LP’s holdings in Malibu Boats were worth $601,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Heck Capital Advisors LLC acquired a new stake in Malibu Boats in the fourth quarter valued at $38,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Malibu Boats in the 4th quarter worth about $150,000. Arrowstreet Capital Limited Partnership acquired a new stake in Malibu Boats in the 4th quarter valued at about $235,000. Vestcor Inc increased its holdings in Malibu Boats by 317.0% during the 4th quarter. Vestcor Inc now owns 6,410 shares of the company’s stock valued at $241,000 after acquiring an additional 4,873 shares in the last quarter. Finally, Semanteon Capital Management LP acquired a new position in Malibu Boats during the fourth quarter worth about $290,000. Institutional investors and hedge funds own 91.35% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MBUU shares. DA Davidson raised shares of Malibu Boats to a “hold” rating in a research note on Monday, April 14th. StockNews.com raised Malibu Boats from a “sell” rating to a “hold” rating in a research report on Tuesday, April 15th. B. Riley raised Malibu Boats to a “hold” rating in a research note on Wednesday, February 12th. Truist Financial cut their target price on shares of Malibu Boats from $38.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $32.00 price target (down from $50.00) on shares of Malibu Boats in a research note on Friday, April 4th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $38.17.

Malibu Boats Trading Down 4.5 %

Shares of MBUU stock opened at $29.37 on Friday. Malibu Boats, Inc. has a 1-year low of $24.43 and a 1-year high of $47.82. The firm’s 50-day simple moving average is $29.21 and its 200-day simple moving average is $35.65. The firm has a market cap of $576.68 million, a P/E ratio of -6.75 and a beta of 1.23. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 0.45.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.06. Malibu Boats had a negative net margin of 12.09% and a positive return on equity of 1.04%. The company had revenue of $228.66 million for the quarter, compared to the consensus estimate of $226.44 million. During the same quarter last year, the firm posted $0.63 earnings per share. Malibu Boats’s revenue was up 12.4% on a year-over-year basis. As a group, equities analysts forecast that Malibu Boats, Inc. will post 1.69 EPS for the current year.

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.