Marshall Wace LLP Takes Position in Malibu Boats Inc (MBUU)
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.
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.
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.
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