Renaissance Technologies LLC Sells 29,700 Shares of Malibu Boats, Inc. (NASDAQ:MBUU)

Renaissance Technologies LLC trimmed its position in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 37.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,000 shares of the company's stock after selling 29,700 shares during the quarter. Renaissance Technologies LLC owned about 0.25% of Malibu Boats worth $1,880,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in Malibu Boats by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 576,070 shares of the company's stock worth $22,361,000 after acquiring an additional 43,769 shares during the last quarter. Schroder Investment Management Group bought a new stake in Malibu Boats in the fourth quarter worth $6,888,000. Wellington Management Group LLP raised its stake in Malibu Boats by 3.8% during the fourth quarter. Wellington Management Group LLP now owns 1,533,605 shares of the company's stock valued at $57,648,000 after purchasing an additional 56,629 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Malibu Boats by 6.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 121,711 shares of the company's stock valued at $4,575,000 after purchasing an additional 7,186 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Malibu Boats by 92.6% in the 3rd quarter. Barclays PLC now owns 46,919 shares of the company's stock worth $1,820,000 after buying an additional 22,556 shares in the last quarter. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MBUU has been the topic of several recent research reports. StockNews.com upgraded shares of Malibu Boats from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. KeyCorp downgraded Malibu Boats from an "overweight" rating to a "sector weight" rating in a research report on Thursday, March 20th. Truist Financial dropped their target price on Malibu Boats from $38.00 to $28.00 and set a "hold" rating for the company in a report on Monday, April 14th. Robert W. Baird reissued a "neutral" rating and set a $32.00 target price (down previously from $50.00) on shares of Malibu Boats in a research report on Friday, April 4th. Finally, DA Davidson upgraded Malibu Boats to a "hold" rating in a research report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $38.17.

Malibu Boats Price Performance

Shares of MBUU stock opened at $28.84 on Friday. The stock has a 50 day moving average price of $30.13 and a 200 day moving average price of $36.46. The firm has a market capitalization of $566.27 million, a P/E ratio of -6.63 and a beta of 1.27. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52. Malibu Boats, Inc. has a 52-week low of $24.43 and a 52-week high of $47.82.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts predict that Malibu Boats, Inc. will post 1.69 earnings per share for the current year.

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.

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