The Manufacturers Life Insurance Company lifted its holdings in Malibu Boats, Inc. (NASDAQ:MBUU – Free Report) by 94.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 843,605 shares of the company’s stock after buying an additional 409,574 shares during the period. The Manufacturers Life Insurance Company owned about 4.13% of Malibu Boats worth $29,560,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. AQR Capital Management LLC lifted its stake in Malibu Boats by 267.9% in the 2nd quarter. AQR Capital Management LLC now owns 88,294 shares of the company’s stock worth $3,094,000 after acquiring an additional 64,297 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Malibu Boats by 10.4% in the 2nd quarter. Bank of Montreal Can now owns 12,427 shares of the company’s stock valued at $442,000 after purchasing an additional 1,170 shares during the period. Lodge Hill Capital LLC purchased a new stake in shares of Malibu Boats in the second quarter worth approximately $4,866,000. Benjamin Edwards Inc. boosted its holdings in shares of 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 purchasing an additional 1,539 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Malibu Boats by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock valued at $39,661,000 after purchasing an additional 111,699 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.
Malibu Boats Price Performance
Shares of NASDAQ:MBUU opened at $38.81 on Tuesday. The stock has a market capitalization of $793.28 million, a P/E ratio of -14.54 and a beta of 1.38. The business has a 50-day moving average of $36.44 and a two-hundred day moving average of $36.62. Malibu Boats, Inc. has a fifty-two week low of $30.20 and a fifty-two week high of $56.03.
Analyst Upgrades and Downgrades
MBUU has been the subject of a number of research analyst reports. DA Davidson reiterated a “buy” rating and issued a $45.00 target price on shares of Malibu Boats in a research report on Tuesday, September 10th. Truist Financial reissued a “hold” rating and set a $32.00 price objective on shares of Malibu Boats in a research report on Monday, July 8th. StockNews.com downgraded Malibu Boats from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Finally, B. Riley cut their price target on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $40.00.
Read Our Latest Report on MBUU
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.
See Also
- Five stocks we like better than Malibu Boats
- 3 Natural Gas Stocks That Offer Great Dividend Yields
- TJX Stock: A Buying Opportunity Before the Holiday Rush
- What is the Hang Seng index?
- Micron’s Blowout Results Pave the Way for Seagate’s Stock Surge
- REIT Stocks – Best REIT Stocks to Add to Your Portfolio Today
- Zeta Global’s AI Cloud: Your Secret Weapon for Massive Growth
Receive News & Ratings for Malibu Boats Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Malibu Boats and related companies with MarketBeat.com's FREE daily email newsletter.