Janus Henderson Group PLC Reduces Stake in Malibu Boats, Inc. $MBUU

Janus Henderson Group PLC trimmed its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 10.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 391,750 shares of the company’s stock after selling 46,413 shares during the period. Janus Henderson Group PLC’s holdings in Malibu Boats were worth $10,154,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Empowered Funds LLC bought a new position in Malibu Boats during the first quarter worth about $2,321,000. Quantinno Capital Management LP raised its position in shares of Malibu Boats by 10.6% in the first quarter. Quantinno Capital Management LP now owns 29,284 shares of the company’s stock valued at $759,000 after purchasing an additional 2,796 shares during the period. Inceptionr LLC purchased a new stake in shares of Malibu Boats during the 1st quarter valued at approximately $533,000. Sei Investments Co. lifted its stake in shares of Malibu Boats by 53.5% during the 1st quarter. Sei Investments Co. now owns 67,059 shares of the company’s stock valued at $1,738,000 after buying an additional 23,377 shares in the last quarter. Finally, State of Wyoming boosted its holdings in Malibu Boats by 10.9% in the 1st quarter. State of Wyoming now owns 11,619 shares of the company’s stock worth $301,000 after buying an additional 1,145 shares during the period. 91.35% of the stock is owned by hedge funds and other institutional investors.

Malibu Boats Price Performance

MBUU opened at $29.24 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 0.44 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $574.19 million, a P/E ratio of -487.33 and a beta of 1.13. The stock has a 50-day moving average price of $27.36 and a 200-day moving average price of $27.89. Malibu Boats, Inc. has a 12-month low of $23.84 and a 12-month high of $39.65.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Weiss Ratings cut Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Zacks Research downgraded Malibu Boats from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th. Truist Financial raised their target price on Malibu Boats from $31.00 to $34.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Wall Street Zen raised Malibu Boats from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, DA Davidson reiterated a “neutral” rating and set a $30.00 price target on shares of Malibu Boats in a research report on Monday, June 15th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Malibu Boats presently has a consensus rating of “Hold” and an average price target of $31.60.

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.