Malibu Boats, Inc. (NASDAQ:MBUU) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its stake in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 13.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,054 shares of the company's stock after selling 14,597 shares during the period. Assenagon Asset Management S.A. owned 0.44% of Malibu Boats worth $3,495,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its stake in Malibu Boats by 37.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 114,525 shares of the company's stock worth $4,445,000 after buying an additional 31,026 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Malibu Boats during the third quarter worth about $74,000. Creative Planning purchased a new position in shares of Malibu Boats during the third quarter worth about $223,000. SG Americas Securities LLC raised its stake in Malibu Boats by 31.6% during the 3rd quarter. SG Americas Securities LLC now owns 5,212 shares of the company's stock valued at $202,000 after acquiring an additional 1,252 shares during the last quarter. Finally, Truist Financial Corp lifted its position in Malibu Boats by 35.6% during the 2nd quarter. Truist Financial Corp now owns 8,448 shares of the company's stock worth $296,000 after acquiring an additional 2,219 shares during the period. Hedge funds and other institutional investors own 91.35% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Truist Financial reissued a "hold" rating and set a $32.00 price target on shares of Malibu Boats in a report on Monday, July 8th. StockNews.com downgraded shares of Malibu Boats from a "hold" rating to a "sell" rating in a research report on Friday, August 30th. DA Davidson restated a "buy" rating and issued a $45.00 price target on shares of Malibu Boats in a report on Tuesday, September 10th. Finally, B. Riley decreased their price objective on Malibu Boats from $39.00 to $35.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $40.00.

Malibu Boats Stock Up 6.2 %

Shares of MBUU stock traded up $2.63 during trading hours on Thursday, hitting $44.85. 421,256 shares of the company were exchanged, compared to its average volume of 253,941. The firm has a fifty day moving average of $38.78 and a 200 day moving average of $36.55. Malibu Boats, Inc. has a 1 year low of $30.20 and a 1 year high of $56.03. The firm has a market cap of $916.73 million, a PE ratio of -17.61 and a beta of 1.38.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $158.70 million during the quarter, compared to analyst estimates of $157.54 million. Malibu Boats had a negative net margin of 6.74% and a positive return on equity of 6.21%. The firm's revenue for the quarter was down 57.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.96 EPS. Analysts expect that Malibu Boats, Inc. will post 1.98 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.