Chartwell Investment Partners LLC Acquires Shares of 80,709 Malibu Boats, Inc. (NASDAQ:MBUU)

Chartwell Investment Partners LLC bought a new stake in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 80,709 shares of the company's stock, valued at approximately $3,132,000. Chartwell Investment Partners LLC owned about 0.40% of Malibu Boats at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Studio Investment Management LLC boosted its holdings in Malibu Boats by 264.4% in the 2nd 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 position in Malibu Boats in the third quarter worth $74,000. EntryPoint Capital LLC acquired a new stake in Malibu Boats in the first quarter valued at $84,000. SG Americas Securities LLC purchased a new position in shares of Malibu Boats during the 2nd quarter worth $139,000. Finally, Benjamin Edwards Inc. grew its position in shares of Malibu Boats by 43.1% in the second 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. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

Malibu Boats Stock Down 0.6 %

NASDAQ:MBUU traded down $0.25 during mid-day trading on Wednesday, hitting $41.38. The company had a trading volume of 163,147 shares, compared to its average volume of 254,894. The business has a fifty day simple moving average of $40.35 and a 200-day simple moving average of $37.19. The firm has a market capitalization of $816.01 million, a price-to-earnings ratio of -10.40 and a beta of 1.36. Malibu Boats, Inc. has a 1 year low of $30.20 and a 1 year high of $56.03. The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on MBUU. Benchmark reaffirmed a "buy" rating and set a $44.00 price objective on shares of Malibu Boats in a research note on Friday, November 1st. Truist Financial boosted their price objective on shares of Malibu Boats from $32.00 to $42.00 and gave the company a "hold" rating in a research note on Friday, November 1st. KeyCorp increased their target price on 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 upped 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. Finally, StockNews.com upgraded Malibu Boats to a "sell" rating in a report on Saturday, November 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $44.57.

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.