Denali Advisors LLC Invests $221,000 in Malibu Boats, Inc. (NASDAQ:MBUU)

Denali Advisors LLC bought a new position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) during the first quarter, according to its most recent filing with the SEC. The fund bought 5,100 shares of the company’s stock, valued at approximately $221,000.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in Malibu Boats by 27.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 99,207 shares of the company’s stock valued at $4,294,000 after acquiring an additional 21,626 shares during the period. Wellington Management Group LLP grew its holdings in Malibu Boats by 315.0% during the 4th quarter. Wellington Management Group LLP now owns 64,741 shares of the company’s stock valued at $3,549,000 after buying an additional 49,141 shares in the last quarter. Cim LLC purchased a new position in Malibu Boats during the 4th quarter valued at about $353,000. Dean Capital Management grew its holdings in Malibu Boats by 156.6% during the 4th quarter. Dean Capital Management now owns 11,965 shares of the company’s stock valued at $656,000 after buying an additional 7,303 shares in the last quarter. Finally, CastleKnight Management LP purchased a new position in Malibu Boats during the 4th quarter valued at about $978,000. 91.35% of the stock is currently owned by institutional investors.

Insider Transactions at Malibu Boats

In related news, Director Mark W. Lanigan bought 20,000 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were purchased at an average cost of $33.43 per share, with a total value of $668,600.00. Following the completion of the purchase, the director now owns 73,368 shares in the company, valued at approximately $2,452,692.24. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.62% of the company’s stock.

Malibu Boats Stock Up 1.5 %

MBUU traded up $0.48 during trading on Wednesday, reaching $33.57. The stock had a trading volume of 72,069 shares, compared to its average volume of 266,441. The stock’s 50 day moving average is $35.56 and its two-hundred day moving average is $42.10. The company has a current ratio of 1.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $686.17 million, a price-to-earnings ratio of -12.39 and a beta of 1.40. Malibu Boats, Inc. has a one year low of $31.47 and a one year high of $60.72.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. Malibu Boats had a positive return on equity of 18.01% and a negative net margin of 5.19%. The business had revenue of $203.42 million during the quarter, compared to the consensus estimate of $205.83 million. As a group, analysts expect that Malibu Boats, Inc. will post 1.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. KeyCorp reduced their target price on Malibu Boats from $50.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Raymond James lowered Malibu Boats from an “outperform” rating to a “market perform” rating in a report on Monday, April 15th. StockNews.com raised Malibu Boats from a “sell” rating to a “hold” rating in a report on Monday, June 17th. B. Riley lowered their price objective on Malibu Boats from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Finally, Benchmark assumed coverage on Malibu Boats in a research report on Wednesday, May 22nd. They issued a “buy” rating and a $44.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Malibu Boats presently has a consensus rating of “Moderate Buy” and an average price target of $43.14.

Malibu Boats Company Profile

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.