Chicago Equity Partners LLC lowered its holdings in shares of Malibu Boats Inc (NASDAQ:MBUU) by 38.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,457 shares of the company’s stock after selling 40,380 shares during the period. Chicago Equity Partners LLC owned approximately 0.31% of Malibu Boats worth $3,527,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MBUU. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Malibu Boats during the third quarter worth approximately $197,000. Cornerstone Wealth Management LLC acquired a new stake in Malibu Boats during the second quarter worth approximately $200,000. Affinity Investment Advisors LLC acquired a new stake in Malibu Boats during the second quarter worth approximately $229,000. Brown Advisory Inc. acquired a new stake in Malibu Boats during the second quarter worth approximately $235,000. Finally, First Hawaiian Bank acquired a new stake in Malibu Boats during the third quarter worth approximately $235,000. 97.30% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Jackie D. Jr. Springer sold 95,985 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $52.81, for a total value of $5,068,967.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Clair William Paxson St, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were 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 in the company, valued at approximately $1,276,181.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 215,823 shares of company stock worth $11,390,169. Corporate insiders own 3.35% of the company’s stock.
Shares of NASDAQ:MBUU opened at $47.21 on Friday. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 1.03 and a beta of 1.45. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.37 and a current ratio of 2.05. Malibu Boats Inc has a 52-week low of $27.56 and a 52-week high of $59.57.
Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.13. The business had revenue of $123.50 million for the quarter, compared to analyst estimates of $113.67 million. Malibu Boats had a return on equity of 47.34% and a net margin of 6.39%. The company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 earnings per share. Equities research analysts anticipate that Malibu Boats Inc will post 3.17 earnings per share for the current year.
Several equities research analysts recently commented on the company. B. Riley raised Malibu Boats from a “neutral” rating to a “buy” rating and raised their target price for the stock from $46.50 to $60.00 in a research note on Monday, September 17th. SunTrust Banks increased their price target on Malibu Boats to $60.00 and gave the stock a “buy” rating in a report on Friday, September 7th. BMO Capital Markets increased their price target on Malibu Boats from $48.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, September 7th. BidaskClub lowered Malibu Boats from a “strong-buy” rating to a “buy” rating in a report on Friday, October 19th. Finally, ValuEngine lowered Malibu Boats from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $56.57.
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Malibu Boats Company Profile
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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