Malibu Boats, Inc. (NASDAQ:MBUU) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lessened its holdings in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 15.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 484,830 shares of the company's stock after selling 91,240 shares during the quarter. Geode Capital Management LLC owned approximately 2.47% of Malibu Boats worth $18,229,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of MBUU. Bank of New York Mellon Corp lifted its stake in shares of Malibu Boats by 370.5% during the 4th quarter. Bank of New York Mellon Corp now owns 440,829 shares of the company's stock worth $16,571,000 after purchasing an additional 347,144 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Malibu Boats during the 4th quarter valued at approximately $8,221,000. Schroder Investment Management Group acquired a new position in shares of Malibu Boats in the 4th quarter valued at $6,888,000. Wellington Management Group LLP lifted its holdings in shares of Malibu Boats by 3.8% during the fourth quarter. Wellington Management Group LLP now owns 1,533,605 shares of the company's stock worth $57,648,000 after purchasing an additional 56,629 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Malibu Boats by 10.6% in the 4th quarter. American Century Companies Inc. now owns 579,664 shares of the company's stock valued at $21,790,000 after acquiring an additional 55,767 shares during the last quarter. Institutional investors own 91.35% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. DA Davidson upgraded Malibu Boats to a "hold" rating in a research note on Monday, April 14th. B. Riley upgraded Malibu Boats to a "hold" rating in a research report on Wednesday, February 12th. Benchmark reiterated a "buy" rating and issued a $44.00 target price on shares of Malibu Boats in a research note on Tuesday, February 4th. Truist Financial dropped their price target on shares of Malibu Boats from $38.00 to $28.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $32.00 price objective (down previously from $50.00) on shares of Malibu Boats in a research report on Friday, April 4th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Malibu Boats currently has an average rating of "Hold" and an average target price of $38.17.

Malibu Boats Price Performance

Shares of Malibu Boats stock traded up $0.51 during trading hours on Thursday, reaching $28.65. 18,430 shares of the company's stock were exchanged, compared to its average volume of 221,628. The business has a fifty day moving average of $30.46 and a two-hundred day moving average of $36.64. The company has a market capitalization of $562.54 million, a P/E ratio of -6.59 and a beta of 1.27. The company has a quick ratio of 0.45, a current ratio of 1.52 and a debt-to-equity ratio of 0.04. Malibu Boats, Inc. has a 1 year low of $24.43 and a 1 year high of $47.82.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). Malibu Boats had a negative net margin of 12.09% and a positive return on equity of 1.04%. As a group, research analysts predict that Malibu Boats, Inc. will post 1.69 earnings per share for the current fiscal year.

About Malibu Boats

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.