Allspring Global Investments Holdings LLC Boosts Holdings in Malibu Boats, Inc. (NASDAQ:MBUU)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 6.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 121,711 shares of the company's stock after purchasing an additional 7,186 shares during the period. Allspring Global Investments Holdings LLC owned about 0.62% of Malibu Boats worth $4,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in shares of Malibu Boats by 154.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company's stock worth $57,321,000 after purchasing an additional 897,387 shares during the period. Janus Henderson Group PLC boosted its holdings in Malibu Boats by 1,267.7% during the third quarter. Janus Henderson Group PLC now owns 238,576 shares of the company's stock worth $9,259,000 after buying an additional 221,133 shares in the last quarter. Meros Investment Management LP acquired a new stake in Malibu Boats during the third quarter valued at $4,117,000. Chartwell Investment Partners LLC purchased a new position in Malibu Boats in the third quarter valued at $3,132,000. Finally, Pzena Investment Management LLC raised its position in shares of Malibu Boats by 5.2% in the third quarter. Pzena Investment Management LLC now owns 1,555,331 shares of the company's stock worth $60,362,000 after acquiring an additional 77,015 shares during the period. 91.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. StockNews.com upgraded Malibu Boats from a "sell" rating to a "hold" rating in a research report on Friday, February 14th. DA Davidson lowered Malibu Boats from a "buy" rating to a "neutral" rating and set a $45.00 price objective on the stock. in a report on Friday, November 1st. Robert W. Baird upped their target price on Malibu Boats from $40.00 to $50.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Truist Financial lifted their price target on shares of Malibu Boats from $34.00 to $38.00 and gave the company a "hold" rating in a research note on Friday, January 31st. Finally, KeyCorp cut their price target on shares of Malibu Boats from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $42.83.

Malibu Boats Price Performance

NASDAQ MBUU traded down $0.81 during mid-day trading on Friday, hitting $34.51. The stock had a trading volume of 168,771 shares, compared to its average volume of 178,323. The stock has a market capitalization of $677.78 million, a price-to-earnings ratio of -7.93 and a beta of 1.33. Malibu Boats, Inc. has a twelve month low of $30.20 and a twelve month high of $47.82. The firm's 50 day moving average is $36.97 and its 200 day moving average is $38.76. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 0.45.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). Malibu Boats had a positive return on equity of 1.04% and a negative net margin of 12.09%. Equities research analysts forecast that Malibu Boats, Inc. will post 1.69 earnings per share for the current fiscal year.

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.