Malibu Boats, Inc. (NASDAQ:MBUU) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 92.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,885 shares of the company's stock after selling 278,772 shares during the quarter. JPMorgan Chase & Co. owned about 0.11% of Malibu Boats worth $849,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Studio Investment Management LLC raised 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 valued at $42,000 after purchasing an additional 380 shares during the period. nVerses Capital LLC acquired a new stake in shares of Malibu Boats during the 3rd quarter worth about $74,000. SG Americas Securities LLC lifted its position 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 buying an additional 1,252 shares during the last quarter. US Bancorp DE lifted 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 valued at $211,000 after buying an additional 4,863 shares during the last quarter. Finally, Versor Investments LP purchased a new position in Malibu Boats during the third quarter worth about $217,000. Hedge funds and other institutional investors own 91.35% of the company's stock.

Malibu Boats Stock Up 3.6 %

Shares of MBUU stock traded up $1.38 during trading hours on Monday, reaching $39.50. 182,503 shares of the stock were exchanged, compared to its average volume of 154,575. Malibu Boats, Inc. has a 12-month low of $30.20 and a 12-month high of $51.21. The business's fifty day moving average is $39.24 and its two-hundred day moving average is $38.75. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.55 and a quick ratio of 0.52. The firm has a market capitalization of $778.94 million, a P/E ratio of -9.92 and a beta of 1.32.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.08 EPS for the quarter, beating 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 business had revenue of $171.60 million for the quarter, compared to the consensus estimate of $165.33 million. During the same quarter in the prior year, the business posted $1.07 EPS. The business's revenue for the quarter was down 32.9% on a year-over-year basis. As a group, research analysts expect that Malibu Boats, Inc. will post 2.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MBUU shares. Benchmark reissued a "buy" rating and issued a $44.00 price target on shares of Malibu Boats in a research note on Friday, November 1st. KeyCorp cut their target price on Malibu Boats from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Truist Financial dropped their price objective on Malibu Boats from $42.00 to $34.00 and set a "hold" rating for the company in a research note on Tuesday, January 7th. StockNews.com raised Malibu Boats to a "sell" rating in a research note on Saturday, November 2nd. Finally, DA Davidson cut shares of Malibu Boats from a "buy" rating to a "neutral" rating and set a $45.00 price target on the stock. in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $42.71.

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.