Capital World Investors Sells 344,465 Shares of Malibu Boats, Inc. $MBUU

Capital World Investors decreased its position in Malibu Boats, Inc. (NASDAQ:MBUU) by 36.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 605,273 shares of the company’s stock after selling 344,465 shares during the quarter. Capital World Investors owned 3.25% of Malibu Boats worth $17,075,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MBUU. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of Malibu Boats by 31.6% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 665,373 shares of the company’s stock worth $18,770,000 after purchasing an additional 159,748 shares during the last quarter. Lodge Hill Capital LLC lifted its position in Malibu Boats by 12.7% during the 3rd quarter. Lodge Hill Capital LLC now owns 885,014 shares of the company’s stock worth $28,719,000 after buying an additional 100,000 shares in the last quarter. Bank of America Corp DE lifted its position in Malibu Boats by 31.5% during the 2nd quarter. Bank of America Corp DE now owns 361,357 shares of the company’s stock worth $11,325,000 after buying an additional 86,526 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Malibu Boats by 37.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 310,388 shares of the company’s stock worth $10,072,000 after buying an additional 84,146 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Malibu Boats by 5.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,328,549 shares of the company’s stock worth $43,111,000 after buying an additional 67,682 shares in the last quarter. Institutional investors own 91.35% of the company’s stock.

Malibu Boats Stock Performance

Malibu Boats stock opened at $28.02 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 0.44 and a debt-to-equity ratio of 0.32. Malibu Boats, Inc. has a 1 year low of $23.84 and a 1 year high of $39.65. The company has a market cap of $550.31 million, a PE ratio of -467.00 and a beta of 1.14. The company’s 50-day moving average is $26.37 and its two-hundred day moving average is $28.44.

Malibu Boats (NASDAQ:MBUU) last released 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. Malibu Boats had a negative net margin of 0.11% and a positive return on equity of 3.28%. The company had revenue of $235.70 million for the quarter, compared to the consensus estimate of $203.46 million. During the same period in the prior year, the company posted $0.72 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. Equities analysts anticipate that Malibu Boats, Inc. will post 1.37 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MBUU shares. Weiss Ratings downgraded shares of Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Griffin Securities set a $30.00 price target on shares of Malibu Boats in a research report on Tuesday, March 3rd. Wall Street Zen upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Truist Financial reduced their price target on shares of Malibu Boats from $34.00 to $31.00 and set a “hold” rating on the stock in a research report on Monday, April 27th. Finally, DA Davidson reiterated a “neutral” rating and set a $30.00 price target on shares of Malibu Boats in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $31.00.

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.