Paloma Partners Management Co acquired a new position in shares of Malibu Boats Inc (NASDAQ:MBUU) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,560 shares of the company’s stock, valued at approximately $443,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC acquired a new stake in Malibu Boats during the first quarter worth about $130,000. Cornerstone Wealth Management LLC acquired a new stake in Malibu Boats during the second quarter worth about $200,000. Affinity Investment Advisors LLC acquired a new stake in Malibu Boats during the second quarter worth about $229,000. Brown Advisory Inc. acquired a new stake in Malibu Boats during the second quarter worth about $235,000. Finally, BlueMountain Capital Management LLC acquired a new stake in Malibu Boats during the second quarter worth about $452,000. Hedge funds and other institutional investors own 97.82% of the company’s stock.

Shares of MBUU opened at $52.61 on Tuesday. Malibu Boats Inc has a 1-year low of $27.44 and a 1-year high of $59.57. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 20.67, a P/E/G ratio of 1.11 and a beta of 1.12. The company has a quick ratio of 1.37, a current ratio of 2.05 and a debt-to-equity ratio of 0.78.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, September 6th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.17. Malibu Boats had a net margin of 5.56% and a return on equity of 43.60%. The business had revenue of $138.66 million during the quarter, compared to analysts’ expectations of $122.65 million. During the same period last year, the business earned $0.43 earnings per share. The business’s revenue for the quarter was up 84.6% on a year-over-year basis. equities research analysts predict that Malibu Boats Inc will post 3.18 earnings per share for the current fiscal year.

A number of brokerages have weighed in on MBUU. SunTrust Banks lifted their price target on shares of Malibu Boats to $60.00 and gave the company a “buy” rating in a research report on Friday, September 7th. ValuEngine upgraded shares of Malibu Boats from a “hold” rating to a “buy” rating in a research report on Thursday, August 23rd. B. Riley lifted their price target on shares of Malibu Boats from $41.00 to $46.50 and gave the company a “neutral” rating in a research report on Friday, September 7th. Zacks Investment Research upgraded shares of Malibu Boats from a “hold” rating to a “strong-buy” rating and set a $60.00 price target for the company in a research report on Thursday, September 13th. Finally, Raymond James lifted their price target 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. Seven equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $54.63.

In related news, Director Phillip S. Estes sold 80,000 shares of Malibu Boats stock in a transaction that occurred on 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 $1,496,115.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jackie D. Jr. Springer sold 95,985 shares of Malibu Boats stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $52.81, for a total transaction of $5,068,967.85. The disclosure for this sale can be found here. Insiders sold 215,823 shares of company stock valued at $11,390,169 in the last 90 days. Company insiders own 3.35% of the company’s stock.

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

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