Wellington Management Group LLP Raises Stock Holdings in Malibu Boats, Inc. (NASDAQ:MBUU)

Wellington Management Group LLP increased its holdings in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 3.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,533,605 shares of the company’s stock after buying an additional 56,629 shares during the quarter. Wellington Management Group LLP owned about 0.08% of Malibu Boats worth $57,648,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MBUU. Heck Capital Advisors LLC purchased a new stake in Malibu Boats in the fourth quarter worth $38,000. Central Pacific Bank Trust Division increased its stake in Malibu Boats by 11.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock worth $136,000 after buying an additional 368 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Malibu Boats during the 4th quarter valued at about $150,000. Arrowstreet Capital Limited Partnership purchased a new stake in Malibu Boats in the 4th quarter valued at about $235,000. Finally, Vestcor Inc boosted its position in Malibu Boats by 317.0% in the 4th quarter. Vestcor Inc now owns 6,410 shares of the company’s stock valued at $241,000 after buying an additional 4,873 shares during the period. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Analyst Upgrades and Downgrades

MBUU has been the subject of several research analyst reports. StockNews.com raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Tuesday, March 11th. Robert W. Baird reaffirmed a “neutral” rating and set a $32.00 target price (down from $50.00) on shares of Malibu Boats in a research report on Friday. Benchmark reiterated a “buy” rating and issued a $44.00 target price on shares of Malibu Boats in a report on Tuesday, February 4th. B. Riley upgraded Malibu Boats to a “hold” rating in a research note on Wednesday, February 12th. Finally, Truist Financial lifted their price objective on Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $39.83.

Malibu Boats Trading Down 0.7 %

MBUU opened at $28.51 on Friday. Malibu Boats, Inc. has a 12 month low of $25.93 and a 12 month high of $47.82. The stock has a fifty day moving average price of $33.71 and a 200-day moving average price of $37.88. The firm has a market cap of $559.79 million, a price-to-earnings ratio of -6.55 and a beta of 1.42. The company has a current ratio of 1.52, a quick ratio of 0.45 and a debt-to-equity ratio of 0.04.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.20 EPS 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%. As a group, equities research analysts anticipate that Malibu Boats, Inc. will post 1.69 earnings per share for the current fiscal year.

About Malibu Boats

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.