Barclays PLC Increases Stake in Malibu Boats, Inc. (NASDAQ:MBUU)

Barclays PLC grew its holdings in shares of Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 92.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,919 shares of the company's stock after purchasing an additional 22,556 shares during the quarter. Barclays PLC owned approximately 0.24% of Malibu Boats worth $1,820,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Studio Investment Management LLC grew 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 purchasing an additional 513 shares in the last quarter. nVerses Capital LLC purchased a new stake in Malibu Boats in the 3rd quarter valued at $74,000. Benjamin Edwards Inc. increased its stake in shares of Malibu Boats by 43.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 5,112 shares of the company's stock worth $179,000 after acquiring an additional 1,539 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Malibu Boats by 31.6% during the 3rd quarter. SG Americas Securities LLC now owns 5,212 shares of the company's stock worth $202,000 after acquiring an additional 1,252 shares during the period. Finally, US Bancorp DE boosted its position in shares of 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 acquiring an additional 4,863 shares during the last quarter. Institutional investors and hedge funds own 91.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MBUU. KeyCorp raised their price objective on shares of Malibu Boats from $38.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. Robert W. Baird lifted their price target on shares of Malibu Boats from $40.00 to $50.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Truist Financial increased their price objective on Malibu Boats from $32.00 to $42.00 and gave the stock a "hold" rating in a research report on Friday, November 1st. Benchmark restated a "buy" rating and issued a $44.00 target price on shares of Malibu Boats in a research report on Friday, November 1st. Finally, DA Davidson lowered 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Malibu Boats currently has a consensus rating of "Hold" and a consensus price target of $44.57.

Malibu Boats Trading Down 2.1 %

Shares of MBUU traded down $0.79 during midday trading on Friday, hitting $36.59. 154,404 shares of the stock were exchanged, compared to its average volume of 243,774. Malibu Boats, Inc. has a 52-week low of $30.20 and a 52-week high of $55.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 1.55. The stock has a fifty day simple moving average of $41.75 and a 200 day simple moving average of $38.43. The firm has a market cap of $721.37 million, a P/E ratio of -9.19 and a beta of 1.30.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.08 earnings per share for the quarter, topping 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 firm had revenue of $171.60 million for the quarter, compared to the consensus estimate of $165.33 million. During the same period in the prior year, the firm earned $1.07 EPS. The firm's revenue for the quarter was down 32.9% on a year-over-year basis. On average, research analysts anticipate that Malibu Boats, Inc. will post 2.01 EPS for the current fiscal 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.