Connor Clark & Lunn Investment Management Ltd. Sells 12,944 Shares of Malibu Boats, Inc. (NASDAQ:MBUU)

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 34.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,167 shares of the company's stock after selling 12,944 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.12% of Malibu Boats worth $938,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MBUU. Studio Investment Management LLC grew its position in Malibu Boats by 264.4% in the second quarter. Studio Investment Management LLC now owns 707 shares of the company's stock worth $25,000 after acquiring an additional 513 shares in the last quarter. nVerses Capital LLC bought a new position in Malibu Boats during the third quarter valued at about $74,000. SG Americas Securities LLC acquired a new stake in shares of Malibu Boats in the second quarter worth about $139,000. Benjamin Edwards Inc. boosted its stake in shares of Malibu Boats by 43.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 5,112 shares of the company's stock worth $179,000 after acquiring an additional 1,539 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of Malibu Boats by 851.7% during the 3rd quarter. US Bancorp DE now owns 5,434 shares of the company's stock valued at $211,000 after acquiring an additional 4,863 shares during the last quarter. Hedge funds and other institutional investors own 91.35% of the company's stock.

Analyst Upgrades and Downgrades

MBUU has been the subject of several analyst reports. StockNews.com upgraded Malibu Boats to a "sell" rating in a report on Saturday, November 2nd. Benchmark reiterated a "buy" rating and issued a $44.00 target price on shares of Malibu Boats in a research note on Friday, November 1st. DA Davidson lowered shares of 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. Robert W. Baird raised their price target on Malibu Boats from $40.00 to $50.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, Truist Financial increased their target price on Malibu Boats from $32.00 to $42.00 and gave the company a "hold" rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Malibu Boats currently has an average rating of "Hold" and a consensus price target of $44.57.

Malibu Boats Price Performance

NASDAQ:MBUU traded up $1.49 during trading hours on Thursday, reaching $43.64. The company had a trading volume of 230,278 shares, compared to its average volume of 251,466. 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 stock has a 50-day moving average of $41.32 and a two-hundred day moving average of $37.73. Malibu Boats, Inc. has a one year low of $30.20 and a one year high of $56.03. The firm has a market capitalization of $860.58 million, a PE ratio of -10.96 and a beta of 1.36.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.08 earnings per share 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 company had revenue of $171.60 million during the quarter, compared to analyst estimates of $165.33 million. During the same period last year, the company posted $1.07 earnings per share. The firm's quarterly revenue was down 32.9% compared to the same quarter last year. Analysts forecast 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.