Marshall Wace LLP purchased a new stake in shares of Malibu Boats Inc (NASDAQ:MBUU) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 437,385 shares of the company’s stock, valued at approximately $23,934,000.

A number of other institutional investors have also made changes to their positions in MBUU. Engineers Gate Manager LP lifted its holdings in shares of Malibu Boats by 171.2% during the third quarter. Engineers Gate Manager LP now owns 40,446 shares of the company’s stock worth $2,213,000 after buying an additional 25,535 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Malibu Boats during the second quarter worth $512,000. Affinity Investment Advisors LLC acquired a new stake in shares of Malibu Boats during the second quarter worth $229,000. Macquarie Group Ltd. lifted its holdings in shares of Malibu Boats by 10.0% during the second quarter. Macquarie Group Ltd. now owns 1,280,397 shares of the company’s stock worth $53,700,000 after buying an additional 115,989 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Malibu Boats by 31.1% during the second quarter. Renaissance Technologies LLC now owns 649,500 shares of the company’s stock worth $27,240,000 after buying an additional 154,200 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

In related news, CFO Wayne R. Wilson sold 10,466 shares of the business’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $48.36, for a total value of $506,135.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Phillip S. Estes sold 80,000 shares of Malibu Boats stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $52.87, for a total value of $4,229,600.00. Following the completion of the transaction, the director now owns 28,298 shares in the company, valued at approximately $1,496,115.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 238,325 shares of company stock valued at $12,448,155. 3.35% of the stock is owned by insiders.

MBUU stock opened at $40.20 on Friday. The stock has a market capitalization of $886.93 million, a P/E ratio of 15.38, a P/E/G ratio of 0.85 and a beta of 1.49. Malibu Boats Inc has a 52 week low of $27.85 and a 52 week high of $59.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.19 and a quick ratio of 1.43.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.13. The business had revenue of $123.50 million during the quarter, compared to the consensus estimate of $113.67 million. Malibu Boats had a return on equity of 44.97% and a net margin of 6.39%. Malibu Boats’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 earnings per share. On average, sell-side analysts predict that Malibu Boats Inc will post 3.32 earnings per share for the current fiscal year.

A number of research firms have recently weighed in on MBUU. B. Riley raised Malibu Boats from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $46.50 to $60.00 in a report on Monday, September 17th. Raymond James boosted their price target on Malibu Boats from $48.00 to $61.00 and gave the company a “strong-buy” rating in a research note on Friday, September 7th. BMO Capital Markets boosted their price target on Malibu Boats from $48.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, September 7th. Zacks Investment Research raised Malibu Boats from a “hold” rating to a “strong-buy” rating and set a $60.00 price target for the company in a research note on Thursday, September 13th. Finally, SunTrust Banks boosted their price target on Malibu Boats to $60.00 and gave the company a “buy” rating in a research note on Friday, September 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $56.57.

COPYRIGHT VIOLATION WARNING: This news story was reported by Watch List News and is the property of of Watch List News. If you are reading this news story on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this news story can be accessed at https://www.watchlistnews.com/marshall-wace-llp-takes-position-in-malibu-boats-inc-mbuu/2670376.html.

Malibu Boats Company 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.

Read More: Average Daily Trade Volume – What You Need to Know

Want to see what other hedge funds are holding MBUU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Malibu Boats Inc (NASDAQ:MBUU).

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

Receive News & Ratings for Malibu Boats Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Malibu Boats and related companies with MarketBeat.com's FREE daily email newsletter.