Wellington Management Group LLP Decreases Stock Holdings in Malibu Boats, Inc. $MBUU

Wellington Management Group LLP decreased its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 11.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,237,871 shares of the company’s stock after selling 165,536 shares during the period. Wellington Management Group LLP owned approximately 0.06% of Malibu Boats worth $33,955,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MBUU. Intesa Sanpaolo Wealth Management purchased a new position in shares of Malibu Boats in the fourth quarter valued at $31,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Malibu Boats in the 2nd quarter worth about $35,000. BNP Paribas Financial Markets grew its stake in Malibu Boats by 43.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock valued at $67,000 after acquiring an additional 643 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Malibu Boats by 346.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company’s stock valued at $73,000 after acquiring an additional 1,801 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Malibu Boats by 108.5% during the 4th quarter. Russell Investments Group Ltd. now owns 3,301 shares of the company’s stock valued at $93,000 after acquiring an additional 1,718 shares in the last quarter. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MBUU has been the topic of several recent research reports. Truist Financial upped their price target on shares of Malibu Boats from $31.00 to $34.00 and gave the company a “hold” rating in a report on Monday, July 6th. Zacks Research cut shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th. Raymond James Financial reaffirmed a “market perform” rating on shares of Malibu Boats in a research note on Monday. Benchmark reiterated a “buy” rating on shares of Malibu Boats in a report on Friday, August 28th. Finally, Weiss Ratings raised Malibu Boats from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, August 27th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $31.60.

Malibu Boats Trading Up 4.5%

NASDAQ MBUU opened at $27.88 on Friday. The company has a market cap of $548.68 million, a P/E ratio of 398.29 and a beta of 1.15. Malibu Boats, Inc. has a 12 month low of $23.84 and a 12 month high of $35.06. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 0.60. The company has a 50-day moving average of $27.86 and a 200-day moving average of $27.29.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, August 27th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.14. Malibu Boats had a net margin of 0.18% and a return on equity of 4.78%. The firm had revenue of $295.54 million during the quarter, compared to the consensus estimate of $263.89 million. During the same period in the previous year, the firm earned $0.42 earnings per share. Malibu Boats’s revenue was up 42.8% compared to the same quarter last year. As a group, equities analysts predict that Malibu Boats, Inc. will post 2.22 earnings per share for the current year.

Malibu Boats Profile

Malibu Boats, Inc is a leading designer, manufacturer and distributor of performance sport boats for the recreational boating market. The company’s product portfolio includes the premium Malibu® brand and the value-oriented Axis® Wake Research line, as well as Cobalt® boats following its 2020 acquisition. Malibu’s vessels are engineered to serve water-sports enthusiasts, with models optimized for wakeboarding, wakesurfing and waterskiing.

Founded in 1982 by water-sports enthusiast Jack Springer, Malibu Boats is headquartered in Loudon, Tennessee.