Pzena Investment Management LLC Raises Position in Malibu Boats, Inc. $MBUU

Pzena Investment Management LLC grew its holdings in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 2.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,721,957 shares of the company’s stock after purchasing an additional 41,713 shares during the quarter. Pzena Investment Management LLC owned about 0.09% of Malibu Boats worth $48,576,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MBUU. Cooke & Bieler LP lifted its holdings in shares of Malibu Boats by 12.4% during the 3rd quarter. Cooke & Bieler LP now owns 1,544,091 shares of the company’s stock valued at $50,106,000 after purchasing an additional 170,178 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Malibu Boats by 31.6% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 665,373 shares of the company’s stock valued at $18,770,000 after purchasing an additional 159,748 shares during the last quarter. Lodge Hill Capital LLC increased its position in shares of Malibu Boats by 12.7% in the 3rd quarter. Lodge Hill Capital LLC now owns 885,014 shares of the company’s stock valued at $28,719,000 after acquiring an additional 100,000 shares during the period. Bank of America Corp DE raised its stake in Malibu Boats by 31.5% in the 2nd quarter. Bank of America Corp DE now owns 361,357 shares of the company’s stock worth $11,325,000 after acquiring an additional 86,526 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Malibu Boats by 37.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 310,388 shares of the company’s stock worth $10,072,000 after acquiring an additional 84,146 shares during the period. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on MBUU. Wall Street Zen raised Malibu Boats from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Griffin Securities set a $30.00 price target on Malibu Boats in a research report on Tuesday, March 3rd. Truist Financial lowered their price target on Malibu Boats from $34.00 to $31.00 and set a “hold” rating for the company in a research report on Monday, April 27th. Weiss Ratings cut Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Finally, Zacks Research cut Malibu Boats from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Malibu Boats currently has an average rating of “Hold” and a consensus price target of $31.20.

Malibu Boats Price Performance

Shares of MBUU opened at $26.86 on Friday. The business’s 50-day moving average is $25.98 and its two-hundred day moving average is $28.29. The company has a market capitalization of $527.53 million, a P/E ratio of -447.67 and a beta of 1.13. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.44 and a current ratio of 1.31. Malibu Boats, Inc. has a fifty-two week low of $23.84 and a fifty-two week high of $39.65.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.27. The company had revenue of $235.70 million for the quarter, compared to the consensus estimate of $203.46 million. Malibu Boats had a positive return on equity of 3.28% and a negative net margin of 0.11%.The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the firm earned $0.72 EPS. Research analysts predict that Malibu Boats, Inc. will post 1.08 earnings per share for the current year.

About Malibu Boats

Malibu Boats, Inc is a leading designer, manufacturer and distributor of performance sport boats for the recreational boating market. The company’s product portfolio includes the premium Malibu® brand and the value-oriented Axis® Wake Research line, as well as Cobalt® boats following its 2020 acquisition. Malibu’s vessels are engineered to serve water-sports enthusiasts, with models optimized for wakeboarding, wakesurfing and waterskiing.

Founded in 1982 by water-sports enthusiast Jack Springer, Malibu Boats is headquartered in Loudon, Tennessee.