Invictus RG Purchases New Holdings in Malibu Boats Inc (MBUU)
Invictus RG purchased a new position in shares of Malibu Boats Inc (NASDAQ:MBUU) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,347 shares of the company’s stock, valued at approximately $402,000.
Several other hedge funds also recently bought and sold shares of the stock. Millennium Management LLC raised its position in Malibu Boats by 1,966.0% during the second quarter. Millennium Management LLC now owns 285,726 shares of the company’s stock valued at $11,983,000 after acquiring an additional 271,896 shares in the last quarter. Loomis Sayles & Co. L P bought a new position in Malibu Boats during the third quarter valued at approximately $11,783,000. Renaissance Technologies LLC raised its position in Malibu Boats by 24.1% during the third quarter. Renaissance Technologies LLC now owns 806,200 shares of the company’s stock valued at $44,115,000 after acquiring an additional 156,700 shares in the last quarter. Macquarie Group Ltd. raised its position in Malibu Boats by 10.0% during the second quarter. Macquarie Group Ltd. now owns 1,280,397 shares of the company’s stock valued at $53,700,000 after acquiring an additional 115,989 shares in the last quarter. Finally, EAM Investors LLC raised its position in Malibu Boats by 325.6% during the second quarter. EAM Investors LLC now owns 100,171 shares of the company’s stock valued at $4,201,000 after acquiring an additional 76,634 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.
In related news, COO Ritchie L. Anderson sold 12,036 shares of the business’s stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $45.85, for a total transaction of $551,850.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Phillip S. Estes sold 80,000 shares of the business’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $52.87, for a total transaction of $4,229,600.00. Following the transaction, the director now directly owns 28,298 shares in the company, valued at approximately $1,496,115.26. The disclosure for this sale can be found here. Insiders have sold 227,859 shares of company stock worth $11,942,019 in the last ninety days. 3.35% of the stock is currently owned by insiders.
Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Tuesday, November 6th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.13. Malibu Boats had a net margin of 6.39% and a return on equity of 44.97%. The business had revenue of $123.50 million for the quarter, compared to analyst estimates of $113.67 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Malibu Boats’s revenue was up 19.3% compared to the same quarter last year. Analysts predict that Malibu Boats Inc will post 3.32 earnings per share for the current fiscal year.
MBUU has been the topic of several recent research reports. ValuEngine lowered shares of Malibu Boats from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Zacks Investment Research lowered shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 8th. BidaskClub raised shares of Malibu Boats from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 6th. Wells Fargo & Co raised shares of Malibu Boats from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $44.00 to $51.00 in a research report on Thursday, August 23rd. Finally, Raymond James raised their price objective on shares of Malibu Boats from $48.00 to $61.00 and gave the company a “strong-buy” rating in a research report on Friday, September 7th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $56.57.
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Malibu Boats Profile
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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