Quadrature Capital Ltd Sells 4,951 Shares of Malibu Boats, Inc. (NASDAQ:MBUU)

Quadrature Capital Ltd lessened its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 42.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 6,607 shares of the company’s stock after selling 4,951 shares during the period. Quadrature Capital Ltd’s holdings in Malibu Boats were worth $257,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in shares of Malibu Boats by 9.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,124 shares of the company’s stock worth $439,000 after acquiring an additional 836 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Malibu Boats during the second quarter worth approximately $139,000. Assenagon Asset Management S.A. bought a new stake in Malibu Boats in the second quarter worth approximately $3,667,000. Bank of New York Mellon Corp lifted its stake in Malibu Boats by 8.8% in the second quarter. Bank of New York Mellon Corp now owns 103,596 shares of the company’s stock valued at $3,630,000 after buying an additional 8,422 shares during the period. Finally, Legato Capital Management LLC lifted its stake in Malibu Boats by 32.9% in the second quarter. Legato Capital Management LLC now owns 21,366 shares of the company’s stock valued at $749,000 after buying an additional 5,291 shares during the period. Institutional investors and hedge funds own 91.35% of the company’s stock.

Analyst Upgrades and Downgrades

MBUU has been the subject of several research analyst reports. DA Davidson lowered shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Friday, November 1st. KeyCorp raised their price target on shares of Malibu Boats from $38.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. StockNews.com upgraded shares of Malibu Boats to a “sell” rating in a report on Saturday, November 2nd. Benchmark restated a “buy” rating and issued a $44.00 target price on shares of Malibu Boats in a research note on Friday, November 1st. Finally, Robert W. Baird upped their price target on Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. One investment 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’s stock. According to MarketBeat, Malibu Boats has an average rating of “Hold” and a consensus target price of $44.57.

Malibu Boats Stock Performance

Shares of Malibu Boats stock opened at $44.28 on Wednesday. Malibu Boats, Inc. has a 52 week low of $30.20 and a 52 week high of $56.03. The company has a quick ratio of 0.52, a current ratio of 1.55 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average price of $42.20 and a 200-day moving average price of $38.28. The company has a market cap of $873.20 million, a PE ratio of -11.13 and a beta of 1.30.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.16. The business had revenue of $171.60 million for the quarter, compared to analysts’ expectations of $165.33 million. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The business’s revenue was down 32.9% on a year-over-year basis. During the same period last year, the business earned $1.07 EPS. Equities analysts anticipate that Malibu Boats, Inc. will post 2.01 earnings per share for the current fiscal 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.