Brandywine Global Investment Management LLC reduced its stake in Malibu Boats, Inc. (NASDAQ:MBUU) by 54.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 87,261 shares of the company’s stock after selling 105,416 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.49% of Malibu Boats worth $2,258,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of MBUU. Teachers Advisors LLC lifted its holdings in Malibu Boats by 20.0% in the 4th quarter. Teachers Advisors LLC now owns 33,651 shares of the company’s stock worth $642,000 after purchasing an additional 5,606 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Malibu Boats by 7.3% in the 1st quarter. Wells Fargo & Company MN now owns 158,500 shares of the company’s stock worth $3,558,000 after purchasing an additional 10,736 shares during the last quarter. Bank of New York Mellon Corp increased its position in Malibu Boats by 65.1% in the 1st quarter. Bank of New York Mellon Corp now owns 112,720 shares of the company’s stock worth $2,530,000 after buying an additional 44,431 shares during the period. Prudential Financial Inc. bought a new position in Malibu Boats in the 1st quarter worth approximately $3,688,000. Finally, American International Group Inc. increased its position in Malibu Boats by 7.1% in the 1st quarter. American International Group Inc. now owns 11,115 shares of the company’s stock worth $250,000 after buying an additional 733 shares during the period. Hedge funds and other institutional investors own 90.19% of the company’s stock.
In other news, Director Peter E. Murphy purchased 3,000 shares of Malibu Boats stock in a transaction that occurred on Thursday, August 10th. The stock was bought at an average price of $25.50 per share, with a total value of $76,500.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.50% of the stock is owned by company insiders.
MBUU has been the topic of several recent analyst reports. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $32.00 price target (up from $30.00) on shares of Malibu Boats in a research report on Friday, September 8th. BidaskClub downgraded Malibu Boats from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 5th. Aegis assumed coverage on Malibu Boats in a research report on Monday, October 2nd. They set a “buy” rating and a $37.00 price objective on the stock. ValuEngine cut Malibu Boats from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, BMO Capital Markets restated a “buy” rating and set a $32.00 price objective on shares of Malibu Boats in a research report on Friday, October 13th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $30.07.
Malibu Boats, Inc. (NASDAQ:MBUU) opened at 31.15 on Wednesday. Malibu Boats, Inc. has a 1-year low of $14.12 and a 1-year high of $33.35. The firm has a market cap of $631.94 million, a price-to-earnings ratio of 19.72 and a beta of 1.04. The firm has a 50-day moving average price of $29.37 and a 200 day moving average price of $26.05.
Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, September 7th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The firm had revenue of $75.11 million during the quarter, compared to analyst estimates of $73.35 million. Malibu Boats had a net margin of 10.06% and a return on equity of 78.71%. The business’s revenue was up 12.6% on a year-over-year basis. During the same period last year, the business earned $0.38 earnings per share. Equities analysts predict that Malibu Boats, Inc. will post $1.88 earnings per share for the current year.
Malibu Boats Profile
Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s segments include the U.S. and Australia. Each segment is engaged in the manufacturing, distribution, marketing and sale of performance sport boats. Its U.S. segment serves markets in North America, South America, Europe and Asia.
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