Malibu Boats, Inc. (NASDAQ:MBUU) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its stake in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 45.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,800 shares of the company's stock after selling 86,001 shares during the period. Renaissance Technologies LLC owned approximately 0.51% of Malibu Boats worth $3,637,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its holdings in shares of Malibu Boats by 1.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 435,541 shares of the company's stock worth $23,876,000 after purchasing an additional 7,844 shares during the last quarter. CastleKnight Management LP acquired a new position in Malibu Boats during the fourth quarter worth approximately $978,000. Dean Capital Management lifted its stake in Malibu Boats by 156.6% in the fourth quarter. Dean Capital Management now owns 11,965 shares of the company's stock valued at $656,000 after buying an additional 7,303 shares during the last quarter. Cim LLC acquired a new stake in shares of Malibu Boats in the fourth quarter valued at approximately $353,000. Finally, Wellington Management Group LLP grew its position in shares of Malibu Boats by 315.0% during the fourth quarter. Wellington Management Group LLP now owns 64,741 shares of the company's stock worth $3,549,000 after acquiring an additional 49,141 shares during the last quarter. 91.35% of the stock is currently owned by institutional investors and hedge funds.

Malibu Boats Trading Up 2.1 %

Shares of MBUU opened at $39.15 on Monday. The stock's 50 day moving average is $36.44 and its two-hundred day moving average is $36.64. Malibu Boats, Inc. has a twelve month low of $30.20 and a twelve month high of $56.03. The firm has a market capitalization of $800.23 million, a PE ratio of -14.66 and a beta of 1.38.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last announced its quarterly earnings data on Thursday, August 29th. The company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.07). The business had revenue of $158.70 million for the quarter, compared to analyst estimates of $157.54 million. Malibu Boats had a positive return on equity of 6.21% and a negative net margin of 6.74%. The company's revenue was down 57.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.96 EPS. On average, sell-side analysts predict that Malibu Boats, Inc. will post 1.98 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on MBUU shares. B. Riley reduced their price target on shares of Malibu Boats from $39.00 to $35.00 and set a "neutral" rating for the company in a research report on Wednesday, July 10th. DA Davidson reiterated a "buy" rating and set a $45.00 target price on shares of Malibu Boats in a research note on Tuesday, September 10th. StockNews.com cut Malibu Boats from a "hold" rating to a "sell" rating in a research report on Friday, August 30th. Finally, Truist Financial reaffirmed a "hold" rating and set a $32.00 price objective on shares of Malibu Boats in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $40.00.

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.