Malibu Boats, Inc. (NASDAQ:MBUU) Shares Sold by Vestcor Inc

Vestcor Inc reduced its holdings in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 81.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,537 shares of the company’s stock after selling 6,720 shares during the period. Vestcor Inc’s holdings in Malibu Boats were worth $60,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Studio Investment Management LLC raised its holdings in Malibu Boats by 264.4% during the second quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock worth $25,000 after purchasing an additional 513 shares in the last quarter. nVerses Capital LLC acquired a new stake in Malibu Boats in the 3rd quarter valued at about $74,000. SG Americas Securities LLC purchased a new position in Malibu Boats during the 2nd quarter valued at about $139,000. Benjamin Edwards Inc. raised its position 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 acquiring an additional 1,539 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Malibu Boats by 851.7% in the third quarter. US Bancorp DE now owns 5,434 shares of the company’s stock valued at $211,000 after purchasing an additional 4,863 shares in the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats Stock Performance

NASDAQ:MBUU opened at $42.21 on Friday. The company has a market cap of $832.38 million, a P/E ratio of -10.61 and a beta of 1.30. 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 firm’s 50 day moving average is $42.41 and its two-hundred day moving average is $38.40. Malibu Boats, Inc. has a fifty-two week low of $30.20 and a fifty-two week high of $56.03.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.16. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. The firm 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 earned $1.07 EPS. The company’s revenue was down 32.9% on a year-over-year basis. Analysts expect that Malibu Boats, Inc. will post 2.01 EPS for the current year.

Wall Street Analysts Forecast Growth

MBUU has been the subject of several research reports. Benchmark restated a “buy” rating and set a $44.00 price objective on shares of Malibu Boats in a research report on Friday, November 1st. StockNews.com raised Malibu Boats to a “sell” rating in a report on Saturday, November 2nd. Truist Financial increased their price objective on Malibu Boats from $32.00 to $42.00 and gave the company a “hold” rating in a research note on Friday, November 1st. DA Davidson downgraded shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 target price for the company. in a research note on Friday, November 1st. Finally, 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 research note on Friday, November 1st. One equities 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 stock. According to data from MarketBeat, Malibu Boats has an average rating of “Hold” and an average price target of $44.57.

Malibu Boats 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.