Lodge Hill Capital LLC Grows Stock Holdings in Malibu Boats, Inc. $MBUU

Lodge Hill Capital LLC raised its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 12.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 885,014 shares of the company’s stock after acquiring an additional 100,000 shares during the period. Malibu Boats makes up approximately 5.1% of Lodge Hill Capital LLC’s investment portfolio, making the stock its 8th largest position. Lodge Hill Capital LLC owned about 4.60% of Malibu Boats worth $28,719,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings in Malibu Boats by 3.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 22,969 shares of the company’s stock worth $745,000 after purchasing an additional 858 shares during the last quarter. AlphaQuest LLC bought a new position in Malibu Boats during the 3rd quarter worth $492,000. Cooke & Bieler LP lifted its holdings in shares of Malibu Boats by 12.4% during the third quarter. Cooke & Bieler LP now owns 1,544,091 shares of the company’s stock worth $50,106,000 after buying an additional 170,178 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Malibu Boats by 3.0% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 30,045 shares of the company’s stock valued at $975,000 after acquiring an additional 872 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Malibu Boats by 47.8% in the third quarter. SG Americas Securities LLC now owns 19,685 shares of the company’s stock valued at $639,000 after acquiring an additional 6,363 shares during the period. Institutional investors and hedge funds own 91.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MBUU. Weiss Ratings reiterated a “sell (d)” rating on shares of Malibu Boats in a research report on Monday, December 29th. Loop Capital initiated coverage on Malibu Boats in a report on Monday, December 22nd. They issued a “buy” rating and a $34.00 price objective for the company. B. Riley Financial cut their target price on Malibu Boats from $33.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, November 25th. Truist Financial raised their price target on Malibu Boats from $30.00 to $37.00 and gave the stock a “hold” rating in a research report on Tuesday, October 28th. Finally, Wall Street Zen downgraded Malibu Boats from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Malibu Boats has a consensus rating of “Hold” and a consensus target price of $32.80.

Malibu Boats Trading Down 2.7%

Shares of MBUU stock opened at $30.54 on Friday. Malibu Boats, Inc. has a fifty-two week low of $24.07 and a fifty-two week high of $39.65. The stock’s fifty day moving average price is $31.00 and its two-hundred day moving average price is $31.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.49 and a current ratio of 1.56. The company has a market cap of $568.04 million, a PE ratio of 41.84 and a beta of 1.22.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, February 5th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The company had revenue of $188.62 million during the quarter, compared to analysts’ expectations of $181.96 million. Malibu Boats had a return on equity of 4.25% and a net margin of 1.76%.Malibu Boats’s revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 EPS. Equities analysts predict that Malibu Boats, Inc. will post 1.69 EPS for the current fiscal year.

Malibu Boats announced that its Board of Directors has initiated a stock repurchase plan on Friday, December 19th that authorizes the company to buyback $70.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 12.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Malibu Boats Profile

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.