Jane Street Group LLC Reduces Stock Holdings in Malibu Boats, Inc. (NASDAQ:MBUU)

Jane Street Group LLC lowered its position in Malibu Boats, Inc. (NASDAQ:MBUU) by 55.2% in the third quarter, HoldingsChannel reports. The firm owned 12,801 shares of the company’s stock after selling 15,750 shares during the period. Jane Street Group LLC’s holdings in Malibu Boats were worth $497,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP lifted its position in Malibu Boats by 154.8% in the third quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock valued at $57,321,000 after buying an additional 897,387 shares during the last quarter. Stadium Capital Management LLC acquired a new position in Malibu Boats in the third quarter valued at about $2,682,000. Stifel Financial Corp lifted its position in Malibu Boats by 23.3% in the third quarter. Stifel Financial Corp now owns 18,370 shares of the company’s stock valued at $713,000 after buying an additional 3,472 shares during the last quarter. Readystate Asset Management LP acquired a new position in Malibu Boats in the third quarter valued at about $1,075,000. Finally, Janus Henderson Group PLC lifted its position in Malibu Boats by 1,267.7% in the third quarter. Janus Henderson Group PLC now owns 238,576 shares of the company’s stock valued at $9,259,000 after buying an additional 221,133 shares during the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Stock Up 2.5 %

Shares of MBUU opened at $37.29 on Monday. The stock has a market capitalization of $735.17 million, a PE ratio of -9.37 and a beta of 1.32. Malibu Boats, Inc. has a 1 year low of $30.20 and a 1 year high of $54.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 1.55. The company’s 50-day simple moving average is $41.44 and its 200-day simple moving average is $38.47.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, October 31st. The company reported $0.08 earnings per share for the quarter, topping 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 analyst estimates of $165.33 million. During the same period in the prior year, the firm earned $1.07 earnings per share. The business’s quarterly revenue was down 32.9% compared to the same quarter last year. Analysts forecast that Malibu Boats, Inc. will post 2.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MBUU. DA Davidson cut shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research report on Friday, November 1st. Truist Financial upped their target price on shares of Malibu Boats from $32.00 to $42.00 and gave the company a “hold” rating in a research report on Friday, November 1st. KeyCorp upped their target price on shares of Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Robert W. Baird increased their price target on shares of Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, StockNews.com raised shares of Malibu Boats to a “sell” rating in a research report on Saturday, November 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Malibu Boats currently has an average rating of “Hold” and an average target price 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.