Wells Fargo & Company MN increased its stake in Malibu Boats Inc (NASDAQ:MBUU) by 7.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 239,980 shares of the company’s stock after buying an additional 16,007 shares during the period. Wells Fargo & Company MN’s holdings in Malibu Boats were worth $10,065,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Mount Yale Investment Advisors LLC purchased a new stake in Malibu Boats during the 1st quarter valued at $130,000. Trexquant Investment LP purchased a new stake in Malibu Boats during the 1st quarter valued at $282,000. Cornerstone Wealth Management LLC purchased a new stake in Malibu Boats during the 2nd quarter valued at $200,000. Psagot Investment House Ltd. purchased a new stake in Malibu Boats during the 2nd quarter valued at $503,000. Finally, Piermont Capital Management Inc. purchased a new stake in Malibu Boats during the 1st quarter valued at $414,000. Institutional investors own 98.31% of the company’s stock.

Several analysts have commented on MBUU shares. BidaskClub downgraded Malibu Boats from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 22nd. SunTrust Banks increased their target price on Malibu Boats to $60.00 and gave the company a “buy” rating in a research note on Friday. ValuEngine upgraded Malibu Boats from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. Zacks Investment Research downgraded Malibu Boats from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Finally, B. Riley increased their target price on Malibu Boats from $41.00 to $46.50 and gave the company a “neutral” rating in a research note on Friday. Two analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $51.06.

MBUU stock opened at $52.39 on Monday. The firm has a market capitalization of $1.08 billion, a PE ratio of 20.79, a PEG ratio of 1.27 and a beta of 1.12. Malibu Boats Inc has a 1 year low of $25.98 and a 1 year high of $59.57. The company has a current ratio of 2.05, a quick ratio of 1.37 and a debt-to-equity ratio of 0.78.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, September 6th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.17. The firm had revenue of $138.66 million for the quarter, compared to the consensus estimate of $122.65 million. Malibu Boats had a return on equity of 43.60% and a net margin of 5.56%. The company’s revenue for the quarter was up 84.6% on a year-over-year basis. During the same period last year, the business posted $0.43 EPS. equities research analysts expect that Malibu Boats Inc will post 2.75 earnings per share for the current fiscal year.

About Malibu Boats

Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.

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Institutional Ownership by Quarter for Malibu Boats (NASDAQ:MBUU)

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