Malibu Boats Inc (NASDAQ:MBUU) insider Clair William Paxson St, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $52.60, for a total value of $789,000.00. Following the completion of the transaction, the insider now owns 24,262 shares of the company’s stock, valued at approximately $1,276,181.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of MBUU traded down $0.08 during trading hours on Wednesday, reaching $52.38. 187,700 shares of the company’s stock traded hands, compared to its average volume of 189,945. The company has a market cap of $1.08 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 1.27 and a beta of 1.12. The company has a current ratio of 2.05, a quick ratio of 1.37 and a debt-to-equity ratio of 0.78. Malibu Boats Inc has a 12 month low of $26.83 and a 12 month high of $59.57.
Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, September 6th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.17. The firm had revenue of $138.66 million during the quarter, compared to the consensus estimate of $122.65 million. Malibu Boats had a return on equity of 43.60% and a net margin of 5.56%. The company’s revenue for the quarter was up 84.6% on a year-over-year basis. During the same quarter last year, the company posted $0.43 EPS. analysts predict that Malibu Boats Inc will post 2.75 earnings per share for the current year.
Several research analysts have commented on the company. SunTrust Banks raised their target price on Malibu Boats to $60.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. ValuEngine upgraded Malibu Boats from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. B. Riley raised their target price on Malibu Boats from $41.00 to $46.50 and gave the stock a “neutral” rating in a research note on Friday, September 7th. Raymond James raised their target price on Malibu Boats from $48.00 to $61.00 and gave the stock a “strong-buy” rating in a research note on Friday, September 7th. Finally, BMO Capital Markets raised their target price on Malibu Boats from $48.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, September 7th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Malibu Boats currently has an average rating of “Buy” and a consensus price target of $51.06.
Several institutional investors and hedge funds have recently modified their holdings of MBUU. Millennium Management LLC boosted its position in shares of Malibu Boats by 1,966.0% during the 2nd quarter. Millennium Management LLC now owns 285,726 shares of the company’s stock valued at $11,983,000 after acquiring an additional 271,896 shares during the last quarter. Stifel Financial Corp bought a new stake in shares of Malibu Boats during the 1st quarter valued at about $8,418,000. Lord Abbett & CO. LLC boosted its position in shares of Malibu Boats by 49.1% during the 1st quarter. Lord Abbett & CO. LLC now owns 732,733 shares of the company’s stock valued at $24,334,000 after acquiring an additional 241,239 shares during the last quarter. Columbus Circle Investors bought a new stake in shares of Malibu Boats during the 1st quarter valued at about $7,307,000. Finally, Renaissance Technologies LLC boosted its position in shares of Malibu Boats by 31.1% during the 2nd quarter. Renaissance Technologies LLC now owns 649,500 shares of the company’s stock valued at $27,240,000 after acquiring an additional 154,200 shares during the last quarter. Hedge funds and other institutional investors own 98.31% of the company’s stock.
About Malibu Boats
Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.
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