Russell Investments Group Ltd. Lowers Stake in Malibu Boats Inc (NASDAQ:MBUU)

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Russell Investments Group Ltd. lowered its stake in shares of Malibu Boats Inc (NASDAQ:MBUU) by 19.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,452 shares of the company’s stock after selling 1,782 shares during the period. Russell Investments Group Ltd.’s holdings in Malibu Boats were worth $229,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Advisor Group Inc. lifted its holdings in Malibu Boats by 111.1% during the second quarter. Advisor Group Inc. now owns 859 shares of the company’s stock worth $33,000 after buying an additional 452 shares during the period. Aperio Group LLC purchased a new stake in Malibu Boats during the second quarter worth $36,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Malibu Boats during the second quarter worth $68,000. State Board of Administration of Florida Retirement System purchased a new stake in Malibu Boats during the second quarter worth $224,000. Finally, AlphaOne Investment Services LLC lifted its holdings in Malibu Boats by 539.1% during the second quarter. AlphaOne Investment Services LLC now owns 5,937 shares of the company’s stock worth $230,000 after buying an additional 5,008 shares during the period. Institutional investors own 96.93% of the company’s stock.

Shares of MBUU opened at $38.89 on Tuesday. Malibu Boats Inc has a 12 month low of $24.79 and a 12 month high of $49.11. The stock has a fifty day moving average price of $35.65 and a 200-day moving average price of $33.75. The company has a current ratio of 1.61, a quick ratio of 0.72 and a debt-to-equity ratio of 0.53. The firm has a market cap of $806.93 million, a PE ratio of 10.60, a P/E/G ratio of 1.03 and a beta of 1.87.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.70 by $0.13. Malibu Boats had a return on equity of 42.48% and a net margin of 9.64%. The firm had revenue of $172.10 million during the quarter, compared to analyst estimates of $149.98 million. During the same quarter in the prior year, the business posted $0.67 EPS. The business’s revenue for the quarter was up 39.4% compared to the same quarter last year. As a group, research analysts forecast that Malibu Boats Inc will post 3.84 EPS for the current year.

A number of research firms have weighed in on MBUU. Zacks Investment Research upgraded Malibu Boats from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Wednesday, November 13th. ValuEngine upgraded Malibu Boats from a “sell” rating to a “hold” rating in a report on Friday, November 8th. BMO Capital Markets lowered their target price on Malibu Boats from $62.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, August 30th. B. Riley restated a “buy” rating and set a $52.00 target price on shares of Malibu Boats in a report on Friday, November 15th. Finally, Wells Fargo & Co set a $40.00 target price on Malibu Boats and gave the stock a “buy” rating in a report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Malibu Boats presently has a consensus rating of “Buy” and a consensus price target of $47.17.

Malibu Boats Company Profile

Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.

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Institutional Ownership by Quarter for Malibu Boats (NASDAQ:MBUU)

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