Marshall Wace LLP Takes Position in Malibu Boats Inc (MBUU)

Marshall Wace LLP bought a new stake in shares of Malibu Boats Inc (NASDAQ:MBUU) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 437,385 shares of the company’s stock, valued at approximately $23,934,000. Marshall Wace LLP owned approximately 2.10% of Malibu Boats at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MBUU. Cornerstone Wealth Management LLC acquired a new stake in Malibu Boats during the 2nd quarter worth approximately $200,000. Alps Advisors Inc. raised its holdings in Malibu Boats by 25.3% during the 2nd quarter. Alps Advisors Inc. now owns 17,447 shares of the company’s stock worth $519,000 after buying an additional 3,519 shares during the period. Wells Fargo & Company MN raised its holdings in Malibu Boats by 7.1% during the 2nd quarter. Wells Fargo & Company MN now owns 239,980 shares of the company’s stock worth $10,065,000 after buying an additional 16,007 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Malibu Boats during the 2nd quarter worth approximately $912,000. Finally, First Trust Advisors LP raised its holdings in Malibu Boats by 109.0% during the 2nd quarter. First Trust Advisors LP now owns 41,171 shares of the company’s stock worth $1,727,000 after buying an additional 21,471 shares during the period. 95.27% of the stock is currently owned by institutional investors and hedge funds.

In related news, CFO Wayne R. Wilson sold 10,466 shares of the firm’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $48.36, for a total value of $506,135.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jackie D. Jr. Springer sold 95,985 shares of the firm’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $52.81, for a total transaction of $5,068,967.85. The disclosure for this sale can be found here. Insiders have sold a total of 238,325 shares of company stock valued at $12,448,155 over the last ninety days. Company insiders own 3.35% of the company’s stock.

Shares of MBUU opened at $40.20 on Friday. The company has a market cap of $886.93 million, a PE ratio of 15.38, a price-to-earnings-growth ratio of 0.85 and a beta of 1.49. Malibu Boats Inc has a twelve month low of $27.85 and a twelve month high of $59.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.19 and a quick ratio of 1.43.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.13. The company had revenue of $123.50 million during the quarter, compared to analysts’ expectations of $113.67 million. Malibu Boats had a net margin of 6.39% and a return on equity of 44.97%. The business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the business earned $0.31 EPS. As a group, sell-side analysts expect that Malibu Boats Inc will post 3.32 EPS for the current fiscal year.

MBUU has been the topic of several research analyst reports. SunTrust Banks raised their target price on shares of Malibu Boats to $60.00 and gave the stock a “buy” rating in a report on Friday, September 7th. BidaskClub upgraded shares of Malibu Boats from a “hold” rating to a “buy” rating in a report on Saturday, August 25th. B. Riley upgraded shares of 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 report on Monday, September 17th. ValuEngine upgraded shares of Malibu Boats from a “hold” rating to a “buy” rating in a report on Thursday, August 23rd. Finally, Zacks Investment Research upgraded shares of Malibu Boats from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Saturday, November 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $56.57.

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Malibu Boats 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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Institutional Ownership by Quarter for Malibu Boats (NASDAQ:MBUU)

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