JPMorgan Chase & Co. Trims Holdings in Malibu Boats, Inc. (MBUU)
JPMorgan Chase & Co. trimmed its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 8.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,744,800 shares of the company’s stock after selling 151,966 shares during the period. JPMorgan Chase & Co. owned 9.73% of Malibu Boats worth $45,138,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Malibu Boats during the second quarter worth $116,000. Cigna Investments Inc. New purchased a new stake in shares of Malibu Boats during the second quarter worth $231,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Malibu Boats during the first quarter worth $206,000. Highbridge Capital Management LLC purchased a new stake in shares of Malibu Boats during the first quarter worth $215,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Malibu Boats during the second quarter worth $267,000.
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Several equities research analysts have issued reports on MBUU shares. Zacks Investment Research upgraded Malibu Boats from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Wednesday, June 21st. ValuEngine upgraded Malibu Boats from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub downgraded Malibu Boats from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 5th. SunTrust Banks, Inc. restated a “buy” rating and set a $32.00 target price (up previously from $30.00) on shares of Malibu Boats in a research report on Friday, September 8th. Finally, BMO Capital Markets restated a “hold” rating and set a $29.00 target price on shares of Malibu Boats in a research report on Wednesday, July 5th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $28.92.
Shares of Malibu Boats, Inc. (NASDAQ:MBUU) opened at 27.42 on Friday. Malibu Boats, Inc. has a 12 month low of $14.12 and a 12 month high of $29.50. The stock has a market cap of $556.27 million, a P/E ratio of 17.35 and a beta of 0.99. The company has a 50 day moving average price of $26.82 and a 200-day moving average price of $24.53.
Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, September 7th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.42 by $0.01. The business had revenue of $75.11 million for the quarter, compared to analysts’ expectations of $73.35 million. Malibu Boats had a net margin of 10.06% and a return on equity of 78.71%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 EPS. On average, equities research analysts predict that Malibu Boats, Inc. will post $1.89 earnings per share for the current year.
About Malibu Boats
Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s segments include the U.S. and Australia. Each segment is engaged in the manufacturing, distribution, marketing and sale of performance sport boats. Its U.S. segment serves markets in North America, South America, Europe and Asia.
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