Pzena Investment Management LLC Sells 31,978 Shares of Malibu Boats, Inc. (NASDAQ:MBUU)

Pzena Investment Management LLC lessened its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,523,353 shares of the company’s stock after selling 31,978 shares during the quarter. Pzena Investment Management LLC owned about 7.76% of Malibu Boats worth $57,263,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Berkshire Asset Management LLC PA purchased a new position in Malibu Boats during the 4th quarter valued at approximately $1,218,000. Raymond James Financial Inc. purchased a new position in Malibu Boats during the 4th quarter valued at approximately $8,221,000. Victory Capital Management Inc. grew its holdings in Malibu Boats by 781.6% during the 4th quarter. Victory Capital Management Inc. now owns 14,802 shares of the company’s stock valued at $556,000 after buying an additional 13,123 shares in the last quarter. US Bancorp DE grew its holdings in Malibu Boats by 132.4% during the 4th quarter. US Bancorp DE now owns 12,629 shares of the company’s stock valued at $475,000 after buying an additional 7,195 shares in the last quarter. Finally, Versor Investments LP grew its holdings in Malibu Boats by 78.6% during the 4th quarter. Versor Investments LP now owns 10,000 shares of the company’s stock valued at $376,000 after buying an additional 4,400 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Price Performance

Shares of MBUU stock opened at $32.29 on Tuesday. Malibu Boats, Inc. has a 52-week low of $29.69 and a 52-week 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 firm has a market capitalization of $634.01 million, a P/E ratio of -7.42 and a beta of 1.42. The stock has a 50 day moving average price of $35.88 and a 200 day moving average price of $38.70.

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

Analyst Ratings Changes

MBUU has been the subject of several research analyst reports. Truist Financial raised their price target on Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a report on Friday, January 31st. KeyCorp dropped their target price on Malibu Boats from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. StockNews.com upgraded Malibu Boats from a “sell” rating to a “hold” rating in a report on Tuesday. Benchmark reiterated a “buy” rating and issued a $44.00 target price on shares of Malibu Boats in a report on Tuesday, February 4th. Finally, B. Riley upgraded Malibu Boats to a “hold” rating in a report on Wednesday, February 12th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.