Meros Investment Management LP Buys New Position in Malibu Boats, Inc. (NASDAQ:MBUU)

Meros Investment Management LP purchased a new stake in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 106,092 shares of the company's stock, valued at approximately $4,117,000. Malibu Boats accounts for approximately 1.9% of Meros Investment Management LP's investment portfolio, making the stock its 27th biggest position. Meros Investment Management LP owned 0.54% of Malibu Boats as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Studio Investment Management LLC increased its position in shares of Malibu Boats by 264.4% in the second quarter. Studio Investment Management LLC now owns 707 shares of the company's stock worth $25,000 after acquiring an additional 513 shares in the last quarter. nVerses Capital LLC purchased a new position in Malibu Boats during the 3rd quarter worth approximately $74,000. SG Americas Securities LLC acquired a new stake in Malibu Boats during the 2nd quarter valued at $139,000. Benjamin Edwards Inc. raised its stake in Malibu Boats by 43.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 5,112 shares of the company's stock valued at $179,000 after purchasing an additional 1,539 shares during the period. Finally, US Bancorp DE boosted its position in shares of Malibu Boats by 851.7% in the third quarter. US Bancorp DE now owns 5,434 shares of the company's stock worth $211,000 after buying an additional 4,863 shares during the period. Hedge funds and other institutional investors own 91.35% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. 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. Robert W. Baird upped 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. DA Davidson cut shares of Malibu Boats from a "buy" rating to a "neutral" rating and set a $45.00 price target for the company. in a report on Friday, November 1st. StockNews.com upgraded shares of Malibu Boats to a "sell" rating in a research note on Saturday, November 2nd. Finally, Truist Financial lifted their target price on shares of Malibu Boats from $32.00 to $42.00 and gave the company a "hold" rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $44.57.

Malibu Boats Stock Down 0.1 %

Shares of MBUU stock traded down $0.05 on Wednesday, hitting $44.23. The company's stock had a trading volume of 105,634 shares, compared to its average volume of 247,273. The stock has a market capitalization of $872.22 million, a price-to-earnings ratio of -11.13 and a beta of 1.30. Malibu Boats, Inc. has a fifty-two week low of $30.20 and a fifty-two week high of $56.03. The firm's fifty day moving average price is $42.20 and its 200-day moving average price is $38.28. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.55 and a quick ratio of 0.52.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $171.60 million during the quarter, compared to analysts' expectations of $165.33 million. During the same quarter in the previous year, the firm earned $1.07 earnings per share. The business's quarterly revenue was down 32.9% compared to the same quarter last year. Research analysts anticipate that Malibu Boats, Inc. will post 2.01 EPS for the current year.

Malibu Boats Company 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.