California Public Employees Retirement System cut its stake in Malibu Boats Inc (NASDAQ:MBUU) by 8.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,876 shares of the company’s stock after selling 4,616 shares during the period. California Public Employees Retirement System owned 0.24% of Malibu Boats worth $1,736,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. increased its position in Malibu Boats by 5,954.2% in the fourth quarter. Meeder Asset Management Inc. now owns 1,453 shares of the company’s stock worth $51,000 after buying an additional 1,429 shares during the period. First Hawaiian Bank increased its position in Malibu Boats by 25.2% in the fourth quarter. First Hawaiian Bank now owns 5,370 shares of the company’s stock worth $187,000 after buying an additional 1,080 shares during the period. United Services Automobile Association acquired a new stake in Malibu Boats in the third quarter worth $205,000. Jefferies Group LLC acquired a new stake in Malibu Boats in the third quarter worth $221,000. Finally, Shaker Investments LLC OH acquired a new stake in Malibu Boats in the fourth quarter worth $230,000. 99.09% of the stock is currently owned by hedge funds and other institutional investors.

In other news, VP Deborah S. Kent sold 1,200 shares of the firm’s stock in a transaction on Friday, February 8th. The stock was sold at an average price of $45.06, for a total transaction of $54,072.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.35% of the stock is currently owned by company insiders.

Several brokerages have weighed in on MBUU. Zacks Investment Research lowered Malibu Boats from a “buy” rating to a “hold” rating in a research report on Wednesday, January 9th. BidaskClub raised Malibu Boats from a “hold” rating to a “buy” rating in a report on Friday, February 22nd. B. Riley raised Malibu Boats from a “neutral” rating to a “buy” rating in a report on Tuesday, January 22nd. Finally, ValuEngine lowered Malibu Boats from a “hold” rating to a “sell” rating in a report on Friday, December 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Malibu Boats currently has a consensus rating of “Buy” and an average target price of $54.86.

Shares of MBUU opened at $40.26 on Friday. The firm has a market cap of $839.02 million, a PE ratio of 15.98, a price-to-earnings-growth ratio of 0.76 and a beta of 1.84. The company has a current ratio of 1.54, a quick ratio of 0.61 and a debt-to-equity ratio of 0.86. Malibu Boats Inc has a one year low of $32.03 and a one year high of $59.57.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Wednesday, February 6th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. The company had revenue of $165.80 million for the quarter, compared to analyst estimates of $149.82 million. Malibu Boats had a return on equity of 45.92% and a net margin of 9.44%. The company’s quarterly revenue was up 44.9% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. Sell-side analysts anticipate that Malibu Boats Inc will post 3.41 EPS for the current year.

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About Malibu Boats

Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.

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Institutional Ownership by Quarter for Malibu Boats (NASDAQ:MBUU)

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