California State Teachers Retirement System raised its stake in Malibu Boats Inc. (NASDAQ:MBUU) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 37,912 shares of the company’s stock after buying an additional 100 shares during the period. California State Teachers Retirement System owned about 0.21% of Malibu Boats worth $458,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. American Century Companies Inc. boosted its stake in Malibu Boats by 10.4% in the second quarter. American Century Companies Inc. now owns 705,146 shares of the company’s stock valued at $8,518,000 after buying an additional 66,223 shares during the period. Skylands Capital LLC boosted its stake in Malibu Boats by 256.3% in the second quarter. Skylands Capital LLC now owns 119,550 shares of the company’s stock valued at $1,444,000 after buying an additional 86,000 shares during the period. Royal Bank of Canada boosted its stake in Malibu Boats by 5.7% in the first quarter. Royal Bank of Canada now owns 1,442,083 shares of the company’s stock valued at $23,650,000 after buying an additional 77,797 shares during the period. Barclays PLC acquired a new stake in Malibu Boats during the first quarter valued at about $342,000. Finally, Renaissance Technologies LLC boosted its stake in Malibu Boats by 23.1% in the first quarter. Renaissance Technologies LLC now owns 59,700 shares of the company’s stock valued at $979,000 after buying an additional 11,200 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.
Shares of Malibu Boats Inc. (NASDAQ:MBUU) traded down 0.07% on Tuesday, hitting $14.49. The company had a trading volume of 61,044 shares. The company has a market cap of $256.42 million, a price-to-earnings ratio of 14.49 and a beta of 0.71. The company has a 50 day moving average of $14.39 and a 200-day moving average of $14.21. Malibu Boats Inc. has a 12-month low of $11.38 and a 12-month high of $18.08.
Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Wednesday, September 7th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The company had revenue of $66.70 million for the quarter, compared to analysts’ expectations of $64.09 million. Malibu Boats had a return on equity of 722.55% and a net margin of 7.13%. The firm’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 earnings per share. On average, analysts forecast that Malibu Boats Inc. will post $1.46 earnings per share for the current year.
Several research firms have recently issued reports on MBUU. Zacks Investment Research cut Malibu Boats from a “hold” rating to a “sell” rating in a report on Tuesday, September 13th. B. Riley restated a “buy” rating and set a $19.00 price objective on shares of Malibu Boats in a report on Monday, September 12th. TheStreet upgraded Malibu Boats from a “sell” rating to a “hold” rating in a report on Wednesday, September 7th. Wells Fargo & Co. restated a “buy” rating on shares of Malibu Boats in a report on Thursday, September 8th. Finally, SunTrust Banks Inc. raised their price objective on Malibu Boats from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, September 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Malibu Boats has a consensus rating of “Hold” and an average target price of $20.67.
About Malibu Boats
Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s segments include the U.S. and Australia. Each segment is engaged in the manufacturing, distribution, marketing and sale of performance sport boats. Its U.S. segment serves markets in North America, South America, Europe and Asia.
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