Malibu Boats, Inc. (NASDAQ:MBUU) Shares Bought by Vestcor Inc

Vestcor Inc lifted its stake in Malibu Boats, Inc. (NASDAQ:MBUU) by 317.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,410 shares of the company’s stock after acquiring an additional 4,873 shares during the period. Vestcor Inc’s holdings in Malibu Boats were worth $241,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Heck Capital Advisors LLC acquired a new stake in Malibu Boats during the fourth quarter valued at approximately $38,000. Studio Investment Management LLC lifted its stake in Malibu Boats by 53.7% during the third quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock valued at $42,000 after purchasing an additional 380 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in Malibu Boats by 11.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock valued at $136,000 after purchasing an additional 368 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in Malibu Boats by 28.6% during the third quarter. Benjamin Edwards Inc. now owns 6,572 shares of the company’s stock valued at $255,000 after purchasing an additional 1,460 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Malibu Boats by 60.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,879 shares of the company’s stock valued at $267,000 after purchasing an additional 2,585 shares during the last quarter. 91.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on MBUU shares. KeyCorp cut their target price on shares of Malibu Boats from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Truist Financial boosted their price target on shares of Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a report on Friday, January 31st. StockNews.com upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a report on Tuesday, March 11th. B. Riley upgraded shares of Malibu Boats to a “hold” rating in a report on Wednesday, February 12th. Finally, Benchmark restated a “buy” rating and set a $44.00 price target on shares of Malibu Boats in a report on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Malibu Boats has an average rating of “Hold” and a consensus price target of $42.83.

Malibu Boats Stock Down 2.6 %

Malibu Boats stock opened at $30.53 on Wednesday. The firm has a market cap of $599.46 million, a PE ratio of -7.02 and a beta of 1.42. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52. The firm’s 50 day moving average price is $35.19 and its two-hundred day moving average price is $38.51. Malibu Boats, Inc. has a twelve month low of $29.70 and a twelve month high of $47.82.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). Malibu Boats had a negative net margin of 12.09% and a positive return on equity of 1.04%. On average, research analysts predict that Malibu Boats, Inc. will post 1.69 EPS for the current fiscal year.

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.