Berkshire Asset Management LLC PA Buys Shares of 31,950 Malibu Boats, Inc. (NASDAQ:MBUU)

Berkshire Asset Management LLC PA acquired a new stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,950 shares of the company's stock, valued at approximately $1,218,000. Berkshire Asset Management LLC PA owned about 0.16% of Malibu Boats as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Heck Capital Advisors LLC purchased a new stake in Malibu Boats in the fourth quarter worth about $38,000. Studio Investment Management LLC increased its position in Malibu Boats by 53.7% in the third quarter. Studio Investment Management LLC now owns 1,087 shares of the company's stock worth $42,000 after buying an additional 380 shares in the last quarter. Central Pacific Bank Trust Division increased its position in Malibu Boats by 11.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company's stock worth $136,000 after buying an additional 368 shares in the last quarter. US Bancorp DE increased its position in 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 in the last quarter. Finally, Versor Investments LP purchased a new stake in Malibu Boats in the third quarter worth about $217,000. Hedge funds and other institutional investors own 91.35% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the company. StockNews.com upgraded Malibu Boats from a "sell" rating to a "hold" rating in a research report on Tuesday. KeyCorp dropped their price objective on Malibu Boats from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Benchmark reaffirmed a "buy" rating and issued a $44.00 price objective on shares of Malibu Boats in a research note on Tuesday, February 4th. B. Riley raised Malibu Boats to a "hold" rating in a research note on Wednesday, February 12th. Finally, Truist Financial upped their price objective on Malibu Boats from $34.00 to $38.00 and gave the stock a "hold" rating in a research note on Friday, January 31st. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $42.83.

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Malibu Boats Trading Down 1.2 %

MBUU stock traded down $0.38 during midday trading on Wednesday, reaching $30.94. 181,590 shares of the company traded hands, compared to its average volume of 173,049. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52. The business has a 50 day moving average of $35.76 and a 200-day moving average of $38.67. Malibu Boats, Inc. has a 52-week low of $29.69 and a 52-week high of $47.82. The firm has a market capitalization of $607.51 million, a price-to-earnings ratio of -7.11 and a beta of 1.42.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate 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%. As a group, sell-side analysts expect 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.