The Manufacturers Life Insurance Company Has $29.56 Million Position in Malibu Boats, Inc. (NASDAQ:MBUU)

The Manufacturers Life Insurance Company lifted its holdings in Malibu Boats, Inc. (NASDAQ:MBUU) 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.

Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, August 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.07). Malibu Boats had a positive return on equity of 6.21% and a negative net margin of 6.74%. The company had revenue of $158.70 million for the quarter, compared to the consensus estimate of $157.54 million. During the same period in the previous year, the company earned $2.96 EPS. The firm’s revenue for the quarter was down 57.4% compared to the same quarter last year. As a group, research analysts expect that Malibu Boats, Inc. will post 1.98 EPS for the current fiscal year.

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.

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.