Malibu Boats, Inc. (NASDAQ:MBUU) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC boosted its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 38.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 66,606 shares of the company's stock after purchasing an additional 18,636 shares during the quarter. Empowered Funds LLC owned approximately 0.34% of Malibu Boats worth $2,585,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in shares of Malibu Boats by 4.7% in the second quarter. Principal Financial Group Inc. now owns 9,728 shares of the company's stock worth $341,000 after acquiring an additional 435 shares during the last quarter. Studio Investment Management LLC increased its stake in 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 during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Malibu Boats by 9.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,124 shares of the company's stock valued at $439,000 after purchasing an additional 836 shares during the last quarter. Bank of Montreal Can increased its stake in Malibu Boats by 10.4% in the second quarter. Bank of Montreal Can now owns 12,427 shares of the company's stock valued at $442,000 after purchasing an additional 1,170 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in Malibu Boats by 31.6% in the third quarter. SG Americas Securities LLC now owns 5,212 shares of the company's stock valued at $202,000 after purchasing an additional 1,252 shares during the last quarter. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

Malibu Boats Stock Performance

NASDAQ:MBUU traded down $0.32 during trading hours on Wednesday, reaching $40.03. 69,266 shares of the stock were exchanged, compared to its average volume of 252,027. The company has a quick ratio of 0.52, a current ratio of 1.55 and a debt-to-equity ratio of 0.05. The firm has a 50 day simple moving average of $40.77 and a 200-day simple moving average of $37.43. Malibu Boats, Inc. has a 52 week low of $30.20 and a 52 week high of $56.03. The stock has a market capitalization of $789.39 million, a P/E ratio of -10.04 and a beta of 1.36.

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

Analysts Set New Price Targets

Several brokerages have commented on MBUU. Truist Financial upped their price target on Malibu Boats from $32.00 to $42.00 and gave the stock a "hold" rating in a research note on Friday, November 1st. Benchmark restated a "buy" rating and set a $44.00 price target on shares of Malibu Boats in a research note 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. DA Davidson downgraded Malibu Boats from a "buy" rating to a "neutral" rating and set a $45.00 target price for the company. in a research report on Friday, November 1st. Finally, StockNews.com raised Malibu Boats to a "sell" rating in a report on Saturday, November 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Malibu Boats presently has a consensus rating of "Hold" and an average price target 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.