Verition Fund Management LLC Takes Position in Malibu Boats, Inc. (NASDAQ:MBUU)

Verition Fund Management LLC acquired a new stake in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 22,623 shares of the company's stock, valued at approximately $878,000. Verition Fund Management LLC owned approximately 0.11% of Malibu Boats at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MBUU shares. Truist Financial boosted their target price on Malibu Boats from $32.00 to $42.00 and gave the stock a "hold" rating in a research report on Friday, November 1st. DA Davidson lowered Malibu Boats from a "buy" rating to a "neutral" rating and set a $45.00 price target on the stock. in a research report on Friday, November 1st. Robert W. Baird raised their price objective on Malibu Boats from $40.00 to $50.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. KeyCorp lifted their target price on Malibu Boats from $38.00 to $50.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Finally, Benchmark reiterated a "buy" rating and issued a $44.00 target price on shares of Malibu Boats in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Malibu Boats presently has a consensus rating of "Hold" and an average price target of $44.57.

Malibu Boats Stock Up 1.4 %

NASDAQ:MBUU traded up $0.59 during trading hours on Monday, reaching $43.67. The company's stock had a trading volume of 110,763 shares, compared to its average volume of 248,398. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.55 and a quick ratio of 0.52. The company has a market cap of $861.17 million, a price-to-earnings ratio of -10.97 and a beta of 1.30. Malibu Boats, Inc. has a one year low of $30.20 and a one year high of $56.03. The business's 50-day moving average is $42.09 and its 200-day moving average is $38.22.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $165.33 million. During the same quarter in the prior year, the company posted $1.07 EPS. The firm's revenue was down 32.9% on a year-over-year basis. Equities research analysts predict that Malibu Boats, Inc. will post 2.01 EPS 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.