UBS Group AG Purchases 37,003 Shares of Malibu Boats, Inc. $MBUU

UBS Group AG boosted its position in Malibu Boats, Inc. (NASDAQ:MBUU) by 64.3% during the fourth quarter, HoldingsChannel reports. The fund owned 94,509 shares of the company’s stock after buying an additional 37,003 shares during the quarter. UBS Group AG’s holdings in Malibu Boats were worth $2,666,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MBUU. AQR Capital Management LLC raised its stake in Malibu Boats by 25.3% in the 1st quarter. AQR Capital Management LLC now owns 11,815 shares of the company’s stock valued at $362,000 after acquiring an additional 2,389 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in 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 acquiring an additional 491 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Malibu Boats by 8.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 57,132 shares of the company’s stock valued at $1,753,000 after acquiring an additional 4,496 shares during the period. Strs Ohio bought a new stake in Malibu Boats in the 1st quarter valued at about $123,000. Finally, Creative Planning raised its stake in 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 acquiring an additional 453 shares during the period. 91.35% of the stock is currently owned by institutional investors.

Malibu Boats Stock Up 4.0%

Shares of NASDAQ MBUU opened at $28.68 on Wednesday. Malibu Boats, Inc. has a 12 month low of $23.84 and a 12 month high of $39.65. The company has a current ratio of 1.31, a quick ratio of 0.44 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $563.28 million, a price-to-earnings ratio of -478.00 and a beta of 1.13. The business has a 50-day moving average of $26.10 and a 200-day moving average of $28.30.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.29 by $0.27. Malibu Boats had a positive return on equity of 3.28% and a negative net margin of 0.11%.The company had revenue of $235.70 million during the quarter, compared to analyst estimates of $203.46 million. During the same quarter in the previous year, the firm earned $0.72 earnings per share. Malibu Boats’s revenue was up 3.1% on a year-over-year basis. Sell-side analysts expect that Malibu Boats, Inc. will post 1.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Malibu Boats Profile

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.