UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Position in Malibu Boats, Inc. (NASDAQ:MBUU)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Malibu Boats, Inc. (NASDAQ:MBUU) by 20.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,711 shares of the company’s stock after buying an additional 7,637 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.23% of Malibu Boats worth $1,735,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pzena Investment Management LLC increased its holdings in Malibu Boats by 5.2% during the 3rd quarter. Pzena Investment Management LLC now owns 1,555,331 shares of the company’s stock valued at $60,362,000 after acquiring an additional 77,015 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Malibu Boats by 10.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock worth $39,661,000 after purchasing an additional 111,699 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Malibu Boats by 94.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock worth $29,560,000 after purchasing an additional 409,574 shares during the last quarter. Lodge Hill Capital LLC purchased a new stake in Malibu Boats in the 2nd quarter valued at approximately $4,866,000. Finally, FMR LLC grew its holdings in Malibu Boats by 8.2% during the 3rd quarter. FMR LLC now owns 136,043 shares of the company’s stock valued at $5,280,000 after buying an additional 10,276 shares during the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats Price Performance

MBUU stock opened at $41.12 on Tuesday. The company has a market cap of $810.68 million, a PE ratio of -10.33 and a beta of 1.30. Malibu Boats, Inc. has a 12-month low of $30.20 and a 12-month high of $56.03. The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average price of $42.41 and a two-hundred day moving average price of $38.43.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.16. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. The firm had revenue of $171.60 million for the quarter, compared to analysts’ expectations of $165.33 million. During the same period in the previous year, the company posted $1.07 earnings per share. Malibu Boats’s revenue was down 32.9% compared to the same quarter last year. As a group, research analysts predict that Malibu Boats, Inc. will post 2.01 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. DA Davidson downgraded Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a research report on Friday, November 1st. Benchmark reaffirmed a “buy” rating and set a $44.00 price target on shares of Malibu Boats in a research note on Friday, November 1st. StockNews.com raised shares of Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. KeyCorp lifted their target price on shares of Malibu Boats from $38.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Truist Financial raised their price objective on Malibu Boats from $32.00 to $42.00 and gave the stock a “hold” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $44.57.

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.