Readystate Asset Management LP Makes New Investment in Malibu Boats, Inc. (NASDAQ:MBUU)

Readystate Asset Management LP bought a new position in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 27,700 shares of the company's stock, valued at approximately $1,075,000. Readystate Asset Management LP owned about 0.14% of Malibu Boats as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Studio Investment Management LLC grew its holdings 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 worth $25,000 after acquiring an additional 513 shares during the last quarter. nVerses Capital LLC acquired a new stake in Malibu Boats during the 3rd quarter valued at $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 raised its stake in Malibu Boats by 851.7% during the 3rd quarter. US Bancorp DE now owns 5,434 shares of the company's stock valued at $211,000 after purchasing an additional 4,863 shares during the period. 91.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. KeyCorp boosted their target price on shares of Malibu Boats from $38.00 to $50.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Benchmark reaffirmed a "buy" rating and issued a $44.00 price target on shares of Malibu Boats in a research note on Friday, November 1st. DA Davidson downgraded shares of Malibu Boats from a "buy" rating to a "neutral" rating and set a $45.00 price target on the stock. in a research note on Friday, November 1st. Truist Financial upped their price target on shares of Malibu Boats from $32.00 to $42.00 and gave the stock a "hold" rating in a research note on Friday, November 1st. Finally, StockNews.com raised shares of Malibu Boats to a "sell" rating in a research note on Saturday, November 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $44.57.

Malibu Boats Stock Down 0.8 %

MBUU stock traded down $0.34 during midday trading on Thursday, hitting $43.89. The company's stock had a trading volume of 42,770 shares, compared to its average volume of 249,252. 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, Inc. has a twelve month low of $30.20 and a twelve month high of $56.03. The company's fifty day moving average price is $41.81 and its 200 day moving average price is $38.02. The stock has a market capitalization of $865.51 million, a P/E ratio of -11.11 and a beta of 1.30.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.16. The company had revenue of $171.60 million for the quarter, compared to analysts' expectations of $165.33 million. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. Malibu Boats's quarterly revenue was down 32.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 EPS. As a group, equities research analysts predict 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.