Malibu Boats, Inc. (NASDAQ:MBUU) Shares Acquired by Atom Investors LP

Atom Investors LP boosted its holdings in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 219.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 55,357 shares of the company's stock after acquiring an additional 38,002 shares during the period. Atom Investors LP owned 0.28% of Malibu Boats worth $2,148,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Studio Investment Management LLC lifted 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 valued at $25,000 after acquiring an additional 513 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Malibu Boats during the 3rd quarter worth about $74,000. SG Americas Securities LLC acquired a new stake in shares of Malibu Boats during the 2nd quarter worth about $139,000. Benjamin Edwards Inc. grew its holdings in shares of Malibu Boats by 43.1% during the second quarter. Benjamin Edwards Inc. now owns 5,112 shares of the company's stock worth $179,000 after buying an additional 1,539 shares in the last quarter. Finally, US Bancorp DE lifted its stake in shares of Malibu Boats by 851.7% during the third quarter. US Bancorp DE now owns 5,434 shares of the company's stock valued at $211,000 after buying an additional 4,863 shares during the period. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on MBUU. KeyCorp lifted their target price on shares of Malibu Boats from $38.00 to $50.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Benchmark reiterated a "buy" rating and issued a $44.00 target price on shares of Malibu Boats in a research note on Friday, November 1st. Robert W. Baird raised their price target on Malibu Boats from $40.00 to $50.00 and gave the stock an "outperform" rating 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 objective for the company. in a research note on Friday, November 1st. Finally, StockNews.com upgraded shares of Malibu Boats to a "sell" rating in a report on Saturday, November 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Malibu Boats has a consensus rating of "Hold" and an average price target of $44.57.

Malibu Boats Trading Up 0.4 %

Shares of NASDAQ:MBUU traded up $0.16 during trading on Tuesday, reaching $43.55. 47,460 shares of the stock were exchanged, compared to its average volume of 249,635. The firm's 50-day moving average price is $41.57 and its 200 day moving average price is $37.92. The firm has a market cap of $858.81 million, a price-to-earnings ratio of -10.90 and a beta of 1.30. Malibu Boats, Inc. has a 12-month low of $30.20 and a 12-month high of $56.03. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 1.55.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.16. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. The business had revenue of $171.60 million for the quarter, compared to analyst estimates of $165.33 million. During the same quarter in the previous year, the business posted $1.07 EPS. The business's quarterly revenue was down 32.9% on a year-over-year basis. On average, sell-side analysts anticipate that Malibu Boats, Inc. will post 2.01 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.