Malibu Boats, Inc. (NASDAQ:MBUU) Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC reduced its position in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,523,353 shares of the company's stock after selling 31,978 shares during the quarter. Pzena Investment Management LLC owned approximately 7.76% of Malibu Boats worth $57,263,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP increased its stake in Malibu Boats by 154.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company's stock worth $57,321,000 after buying an additional 897,387 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Malibu Boats by 370.5% in the fourth quarter. Bank of New York Mellon Corp now owns 440,829 shares of the company's stock worth $16,571,000 after acquiring an additional 347,144 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Malibu Boats by 1,267.7% during the third quarter. Janus Henderson Group PLC now owns 238,576 shares of the company's stock worth $9,259,000 after acquiring an additional 221,133 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Malibu Boats in the fourth quarter valued at $8,221,000. Finally, Meros Investment Management LP purchased a new position in Malibu Boats in the third quarter valued at $4,117,000. Institutional investors and hedge funds own 91.35% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MBUU shares. Benchmark reaffirmed a "buy" rating and issued a $44.00 price target on shares of Malibu Boats in a research report on Tuesday, February 4th. B. Riley upgraded shares of Malibu Boats to a "hold" rating in a research note on Wednesday, February 12th. KeyCorp dropped their price objective on shares of Malibu Boats from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. StockNews.com raised shares of Malibu Boats from a "sell" rating to a "hold" rating in a research report on Tuesday. Finally, Truist Financial increased their target price on Malibu Boats from $34.00 to $38.00 and gave the company a "hold" rating in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $42.83.

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Malibu Boats Stock Performance

MBUU traded down $0.24 on Thursday, reaching $30.70. The company had a trading volume of 193,475 shares, compared to its average volume of 174,387. The company has a quick ratio of 0.45, a current ratio of 1.52 and a debt-to-equity ratio of 0.04. Malibu Boats, Inc. has a 1 year low of $29.69 and a 1 year high of $47.82. The stock has a market capitalization of $602.79 million, a PE ratio of -7.06 and a beta of 1.42. The stock has a 50-day moving average price of $35.51 and a 200-day moving average price of $38.56.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). Malibu Boats had a positive return on equity of 1.04% and a negative net margin of 12.09%. As a group, research analysts forecast that Malibu Boats, Inc. will post 1.69 EPS for the current fiscal 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.