Kendall Capital Management Buys 3,705 Shares of Malibu Boats, Inc. (NASDAQ:MBUU)

Kendall Capital Management boosted its stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 56.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,283 shares of the company’s stock after purchasing an additional 3,705 shares during the quarter. Kendall Capital Management owned about 0.05% of Malibu Boats worth $564,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Malibu Boats by 1.0% during the first quarter. BlackRock Inc. now owns 1,632,855 shares of the company’s stock worth $94,722,000 after purchasing an additional 15,550 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Malibu Boats by 2.7% during the third quarter. Vanguard Group Inc. now owns 1,365,273 shares of the company’s stock worth $66,926,000 after buying an additional 35,474 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Malibu Boats by 6.2% during the first quarter. Dimensional Fund Advisors LP now owns 798,969 shares of the company’s stock worth $45,099,000 after buying an additional 46,506 shares in the last quarter. Southernsun Asset Management LLC lifted its holdings in shares of Malibu Boats by 7.0% during the first quarter. Southernsun Asset Management LLC now owns 462,420 shares of the company’s stock worth $26,104,000 after buying an additional 30,207 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Malibu Boats by 4.5% during the second quarter. Geode Capital Management LLC now owns 454,411 shares of the company’s stock worth $26,656,000 after buying an additional 19,394 shares in the last quarter. 91.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

MBUU has been the subject of a number of research reports. Raymond James dropped their target price on Malibu Boats from $59.00 to $46.00 and set an “outperform” rating for the company in a report on Wednesday, January 31st. B. Riley dropped their target price on Malibu Boats from $56.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 31st. Robert W. Baird reaffirmed an “outperform” rating and issued a $54.00 price target on shares of Malibu Boats in a research note on Friday, January 19th. KeyCorp dropped their price target on Malibu Boats from $58.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st. Finally, Truist Financial dropped their price target on Malibu Boats from $62.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Malibu Boats has an average rating of “Moderate Buy” and a consensus target price of $50.00.

Malibu Boats Stock Performance

Malibu Boats stock opened at $41.77 on Thursday. Malibu Boats, Inc. has a 12-month low of $37.70 and a 12-month high of $62.36. The company has a quick ratio of 0.69, a current ratio of 1.82 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average price is $43.23 and its two-hundred day moving average price is $46.83. The stock has a market cap of $853.36 million, a PE ratio of 13.39 and a beta of 1.37.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Tuesday, January 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. Malibu Boats had a return on equity of 24.23% and a net margin of 5.32%. The firm had revenue of $211.07 million for the quarter, compared to analysts’ expectations of $219.64 million. During the same quarter in the previous year, the business posted $1.78 earnings per share. The business’s revenue for the quarter was down 37.7% on a year-over-year basis. As a group, analysts expect that Malibu Boats, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Malibu Boats

In other Malibu Boats news, insider Michael K. Hooks bought 12,500 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were purchased at an average price of $42.82 per share, for a total transaction of $535,250.00. Following the completion of the transaction, the insider now directly owns 12,500 shares in the company, valued at approximately $535,250. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.62% of the company’s stock.

Malibu Boats Profile

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.