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

Legato Capital Management LLC reduced its stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 86.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and 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 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of MBUU. JPMorgan Chase & Co. boosted its stake in shares of Malibu Boats by 4.2% during the third quarter. JPMorgan Chase & Co. now owns 10,936 shares of the company’s stock valued at $355,000 after acquiring an additional 441 shares during the last quarter. Creative Planning boosted its holdings in shares of Malibu Boats by 5.0% in the 2nd quarter. Creative Planning now owns 9,471 shares of the company’s stock valued at $297,000 after purchasing an additional 453 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Malibu Boats by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,590 shares of the company’s stock valued at $356,000 after purchasing an additional 491 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Malibu Boats by 43.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock valued at $67,000 after purchasing an additional 643 shares in the last quarter. Finally, Vident Advisory LLC lifted its holdings in shares of Malibu Boats by 5.0% during the 2nd quarter. Vident Advisory LLC now owns 14,326 shares of the company’s stock valued at $449,000 after acquiring an additional 677 shares in the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.

Wall Street Analyst Weigh In

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

Malibu Boats Stock Performance

Shares of MBUU stock opened at $27.84 on Friday. Malibu Boats, Inc. has a 12 month low of $23.84 and a 12 month high of $39.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.31 and a quick ratio of 0.44. The firm has a market capitalization of $546.78 million, a P/E ratio of -464.00 and a beta of 1.13. The company’s fifty day moving average price is $26.18 and its two-hundred day moving average price is $28.32.

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

About Malibu Boats

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.