Pzena Investment Management LLC Has $60.36 Million Stake in Malibu Boats, Inc. (NASDAQ:MBUU)

by · The Markets Daily

Pzena Investment Management LLC raised its position in Malibu Boats, Inc. (NASDAQ:MBUU – Free Report) by 5.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,555,331 shares of the company’s stock after purchasing an additional 77,015 shares during the quarter. Pzena Investment Management LLC owned 7.89% of Malibu Boats worth $60,362,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Studio Investment Management LLC raised its stake in shares of Malibu Boats by 264.4% in the 2nd quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock valued at $25,000 after purchasing an additional 513 shares during the period. nVerses Capital LLC bought a new stake in Malibu Boats during the third quarter worth about $74,000. EntryPoint Capital LLC bought a new stake in Malibu Boats in the first quarter valued at approximately $84,000. SG Americas Securities LLC bought a new stake in Malibu Boats in the second quarter valued at approximately $139,000. Finally, Benjamin Edwards Inc. raised its stake in Malibu Boats by 43.1% in the second quarter. Benjamin Edwards Inc. now owns 5,112 shares of the company’s stock valued at $179,000 after buying an additional 1,539 shares during the period. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats Trading Down 1.5 %

NASDAQ:MBUU traded down $0.60 during trading hours on Wednesday, hitting $39.75. 40,337 shares of the company were exchanged, compared to its average volume of 251,898. The stock has a market capitalization of $783.87 million, a price-to-earnings ratio of -10.14 and a beta of 1.36. The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. Malibu Boats, Inc. has a one year low of $30.20 and a one year high of $56.03. The company has a fifty day simple moving average of $40.67 and a 200 day simple moving average of $37.38.

Malibu Boats (NASDAQ:MBUU – Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.16. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The firm had revenue of $171.60 million during the quarter, compared to analyst estimates of $165.33 million. During the same period last year, the company posted $1.07 EPS. The business’s quarterly revenue was down 32.9% on a year-over-year basis. Sell-side analysts expect that Malibu Boats, Inc. will post 2.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on MBUU. Truist Financial upped their price objective on Malibu Boats from $32.00 to $42.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Benchmark reissued a “buy” rating and set a $44.00 price target on shares of Malibu Boats in a research report on Friday, November 1st. DA Davidson downgraded Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research report on Friday, November 1st. KeyCorp raised their target price on Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Robert W. Baird raised their target price on Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $44.57.

Get Our Latest Analysis on Malibu Boats

Malibu Boats Company Profile

(Free Report)

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.

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