Malibu Boats, Inc. $MBUU Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC decreased its holdings in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,697,457 shares of the company’s stock after selling 24,500 shares during the quarter. Pzena Investment Management LLC owned about 9.13% of Malibu Boats worth $43,998,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Intesa Sanpaolo Wealth Management acquired a new position in Malibu Boats during the fourth quarter worth $31,000. BNP Paribas Financial Markets lifted its holdings in Malibu Boats by 43.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock worth $67,000 after buying an additional 643 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Malibu Boats by 346.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company’s stock worth $73,000 after buying an additional 1,801 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Malibu Boats by 108.5% in the 4th quarter. Russell Investments Group Ltd. now owns 3,301 shares of the company’s stock valued at $93,000 after buying an additional 1,718 shares during the period. Finally, Strs Ohio purchased a new position in Malibu Boats in the 1st quarter valued at approximately $123,000. 91.35% of the stock is currently owned by institutional investors and hedge funds.

Malibu Boats Price Performance

Shares of MBUU opened at $25.64 on Thursday. The firm has a market capitalization of $503.49 million, a price-to-earnings ratio of -427.33 and a beta of 1.14. The firm’s fifty day simple moving average is $27.02 and its 200-day simple moving average is $28.35. Malibu Boats, Inc. has a twelve month low of $23.84 and a twelve month high of $39.65. The company has a current ratio of 1.31, a quick ratio of 0.44 and a debt-to-equity ratio of 0.32.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, May 7th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.29 by $0.27. The firm had revenue of $235.70 million for the quarter, compared to analyst estimates of $203.46 million. Malibu Boats had a positive return on equity of 3.28% and a negative net margin of 0.11%.Malibu Boats’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 earnings per share. Equities analysts forecast that Malibu Boats, Inc. will post 1.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Truist Financial cut their price objective on Malibu Boats from $34.00 to $31.00 and set a “hold” rating on the stock in a research report on Monday, April 27th. Zacks Research raised Malibu Boats from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 10th. DA Davidson restated a “neutral” rating and set a $30.00 price target on shares of Malibu Boats in a report on Monday, June 15th. Wall Street Zen raised Malibu Boats from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings cut Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.00.

Malibu Boats Profile

Malibu Boats, Inc is a leading designer, manufacturer and distributor of performance sport boats for the recreational boating market. The company’s product portfolio includes the premium Malibu® brand and the value-oriented Axis® Wake Research line, as well as Cobalt® boats following its 2020 acquisition. Malibu’s vessels are engineered to serve water-sports enthusiasts, with models optimized for wakeboarding, wakesurfing and waterskiing.

Founded in 1982 by water-sports enthusiast Jack Springer, Malibu Boats is headquartered in Loudon, Tennessee.