Malibu Boats, Inc. (NASDAQ:MBUU) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP increased its holdings in shares of Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 154.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,476,976 shares of the company's stock after buying an additional 897,387 shares during the period. Wellington Management Group LLP owned about 7.49% of Malibu Boats worth $57,321,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Studio Investment Management LLC boosted its stake in shares of 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 buying an additional 513 shares during the period. nVerses Capital LLC purchased a new position in Malibu Boats in the third quarter worth approximately $74,000. SG Americas Securities LLC acquired a new position in Malibu Boats during the 2nd quarter worth approximately $139,000. Benjamin Edwards Inc. increased its position in shares of Malibu Boats by 43.1% in the 2nd 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 last quarter. Finally, US Bancorp DE increased its position in shares of Malibu Boats by 851.7% in the 3rd quarter. US Bancorp DE now owns 5,434 shares of the company's stock valued at $211,000 after purchasing an additional 4,863 shares during the last quarter. 91.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MBUU. StockNews.com upgraded shares of Malibu Boats to a "sell" rating in a research note on Saturday, November 2nd. Benchmark reaffirmed a "buy" rating and set a $44.00 price objective on shares of Malibu Boats in a research report on Friday, November 1st. DA Davidson lowered 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. Truist Financial boosted their target price on Malibu Boats from $32.00 to $42.00 and gave the stock a "hold" rating in a research note on Friday, November 1st. Finally, Robert W. Baird increased their price target on shares of Malibu Boats from $40.00 to $50.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $44.57.

Malibu Boats Stock Performance

NASDAQ MBUU traded up $0.06 on Thursday, reaching $44.29. The stock had a trading volume of 44,725 shares, compared to its average volume of 246,426. The stock has a market cap of $873.18 million, a P/E ratio of -11.16 and a beta of 1.30. Malibu Boats, Inc. has a 12-month low of $30.20 and a 12-month high of $56.03. The business's 50-day moving average price is $42.28 and its 200 day moving average price is $38.32. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 1.55.

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