Malibu Boats, Inc. $MBUU Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC decreased its holdings in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 86.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,760 shares of the company’s stock after selling 54,011 shares during the quarter. Legato Capital Management LLC’s holdings in Malibu Boats were worth $247,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MBUU. BNP Paribas Financial Markets increased its position in Malibu Boats by 43.3% in the second quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock worth $67,000 after buying an additional 643 shares during the period. Tower Research Capital LLC TRC increased its position in Malibu Boats by 346.3% in the second 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 during the period. Strs Ohio acquired a new stake in Malibu Boats in the first quarter worth $123,000. Central Pacific Bank Trust Division increased its position in Malibu Boats by 36.0% in the fourth quarter. Central Pacific Bank Trust Division now owns 4,618 shares of the company’s stock worth $130,000 after buying an additional 1,223 shares during the period. Finally, Millennium Management LLC acquired a new stake in Malibu Boats in the third quarter worth $211,000. 91.35% of the stock is owned by institutional investors and hedge funds.

Malibu Boats Price Performance

Shares of MBUU opened at $27.84 on Friday. The firm has a market capitalization of $546.78 million, a price-to-earnings ratio of -464.00 and a beta of 1.13. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.44 and a current ratio of 1.31. Malibu Boats, Inc. has a one year low of $23.84 and a one year high of $39.65. The stock’s fifty day moving average is $26.18 and its 200-day moving average is $28.32.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. Malibu Boats had a positive return on equity of 3.28% and a negative net margin of 0.11%.The company had revenue of $235.70 million for the quarter, compared to analyst estimates of $203.46 million. During the same period last year, the company earned $0.72 earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. Equities analysts anticipate that Malibu Boats, Inc. will post 1.13 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MBUU shares. Wall Street Zen raised Malibu Boats from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Griffin Securities set a $30.00 price target on shares of Malibu Boats in a research note on Tuesday, March 3rd. Zacks Research lowered shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Truist Financial dropped their price target on shares of Malibu Boats from $34.00 to $31.00 and set a “hold” rating on the stock in a research note on Monday, April 27th. Finally, Weiss Ratings lowered shares of Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $31.20.

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.