Geode Capital Management LLC Raises Holdings in Malibu Boats, Inc. (NASDAQ:MBUU)

Geode Capital Management LLC increased its holdings in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 8.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 576,070 shares of the company's stock after purchasing an additional 43,769 shares during the quarter. Geode Capital Management LLC owned approximately 2.92% of Malibu Boats worth $22,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Barclays PLC lifted its holdings in Malibu Boats by 92.6% in the third quarter. Barclays PLC now owns 46,919 shares of the company's stock worth $1,820,000 after buying an additional 22,556 shares during the period. MML Investors Services LLC grew its stake in shares of Malibu Boats by 22.2% in the third quarter. MML Investors Services LLC now owns 17,743 shares of the company's stock worth $689,000 after acquiring an additional 3,228 shares during the last quarter. Dean Investment Associates LLC increased its holdings in shares of Malibu Boats by 40.0% during the third quarter. Dean Investment Associates LLC now owns 81,073 shares of the company's stock valued at $3,146,000 after acquiring an additional 23,170 shares in the last quarter. Wellington Management Group LLP boosted its stake in Malibu Boats by 154.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company's stock worth $57,321,000 after purchasing an additional 897,387 shares in the last quarter. Finally, Stadium Capital Management LLC bought a new position in shares of Malibu Boats in the third quarter worth approximately $2,682,000. 91.35% of the stock is currently owned by institutional investors.

Malibu Boats Price Performance

MBUU traded down $0.79 during trading on Friday, hitting $36.59. 154,404 shares of the company traded hands, compared to its average volume of 243,774. The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. The company has a market cap of $721.37 million, a PE ratio of -9.19 and a beta of 1.30. The stock's 50-day simple moving average is $41.75 and its two-hundred day simple moving average is $38.43. Malibu Boats, Inc. has a 1 year low of $30.20 and a 1 year high of $55.70.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last posted 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 period in the previous year, the business earned $1.07 earnings per share. The firm's revenue for the quarter was down 32.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Malibu Boats, Inc. will post 2.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on MBUU. StockNews.com upgraded shares of Malibu Boats to a "sell" rating in a research note on Saturday, November 2nd. Truist Financial increased their price target on shares of Malibu Boats from $32.00 to $42.00 and gave the stock a "hold" rating in a research report on Friday, November 1st. DA Davidson downgraded Malibu Boats from a "buy" rating to a "neutral" rating and set a $45.00 target price on the stock. in a research report on Friday, November 1st. KeyCorp upped their price target on Malibu Boats from $38.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. Finally, Robert W. Baird raised their price objective on Malibu Boats from $40.00 to $50.00 and gave the stock an "outperform" rating in a research note 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's stock. According to MarketBeat, Malibu Boats presently has a consensus rating of "Hold" and a consensus price target of $44.57.

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.