Malibu Boats, Inc. $MBUU Shares Acquired by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH boosted its holdings in Malibu Boats, Inc. (NASDAQ:MBUU) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 694,763 shares of the company’s stock after purchasing an additional 29,390 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned about 3.74% of Malibu Boats worth $18,008,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Invesco Ltd. raised its holdings in shares of Malibu Boats by 0.8% in the fourth quarter. Invesco Ltd. now owns 53,074 shares of the company’s stock valued at $1,497,000 after buying an additional 432 shares during the last quarter. JPMorgan Chase & Co. grew its holdings 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 worth $355,000 after buying an additional 441 shares during the last quarter. Creative Planning raised its stake in Malibu Boats by 5.0% during the 2nd quarter. Creative Planning now owns 9,471 shares of the company’s stock valued at $297,000 after acquiring an additional 453 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Malibu Boats by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,590 shares of the company’s stock worth $356,000 after acquiring an additional 491 shares during the period. Finally, BNP Paribas Financial Markets grew 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 during the last quarter. 91.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MBUU has been the subject of several analyst reports. Weiss Ratings cut Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Truist Financial dropped their price objective on shares of Malibu Boats from $34.00 to $31.00 and set a “hold” rating on the stock in a research note on Monday, April 27th. Griffin Securities set a $30.00 target price on shares of Malibu Boats in a research note on Tuesday, March 3rd. Wall Street Zen upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Zacks Research upgraded shares of Malibu Boats from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Malibu Boats has a consensus rating of “Hold” and an average price target of $31.00.

Malibu Boats Stock Performance

Shares of MBUU stock opened at $28.75 on Monday. The business’s fifty day moving average price is $26.96 and its 200 day moving average price is $28.40. The firm has a market capitalization of $564.56 million, a PE ratio of -479.17 and a beta of 1.14. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.31 and a quick ratio of 0.44. Malibu Boats, Inc. has a 1-year low of $23.84 and a 1-year high of $39.65.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, May 7th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The company had revenue of $235.70 million during the quarter, compared to the consensus estimate of $203.46 million. Malibu Boats had a positive return on equity of 3.28% and a negative net margin of 0.11%.Malibu Boats’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 earnings per share. As a group, sell-side analysts forecast that Malibu Boats, Inc. will post 1.37 EPS 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.