Dimensional Fund Advisors LP boosted its stake in Malibu Boats, Inc. (NASDAQ:MBUU) by 28.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 483,670 shares of the company’s stock after purchasing an additional 107,413 shares during the period. Dimensional Fund Advisors LP owned about 2.70% of Malibu Boats worth $12,513,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Malibu Boats by 10.7% in the 2nd quarter. Vanguard Group Inc. now owns 893,667 shares of the company’s stock worth $23,120,000 after purchasing an additional 86,128 shares during the period. Hood River Capital Management LLC purchased a new position in Malibu Boats in the 2nd quarter worth approximately $10,572,000. Renaissance Technologies LLC increased its stake in Malibu Boats by 1.0% in the 1st quarter. Renaissance Technologies LLC now owns 272,300 shares of the company’s stock worth $6,113,000 after purchasing an additional 2,724 shares during the period. Northern Trust Corp increased its stake in shares of Malibu Boats by 3.0% during the second quarter. Northern Trust Corp now owns 262,097 shares of the company’s stock valued at $6,781,000 after buying an additional 7,735 shares during the period. Finally, Boston Advisors LLC purchased a new position in shares of Malibu Boats during the second quarter valued at approximately $5,361,000. 91.09% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Jackie D. Jr. Springer sold 40,000 shares of Malibu Boats stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $27.76, for a total transaction of $1,110,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 3.50% of the company’s stock.
Several equities analysts have recently issued reports on the company. ValuEngine cut Malibu Boats from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. BMO Capital Markets reissued a “buy” rating and set a $32.00 target price on shares of Malibu Boats in a research note on Friday, October 13th. SunTrust Banks, Inc. reissued a “buy” rating and set a $34.00 target price on shares of Malibu Boats in a research note on Friday, November 10th. B. Riley reissued a “neutral” rating and set a $29.50 target price (up from $25.50) on shares of Malibu Boats in a research note on Monday, November 6th. Finally, BidaskClub cut Malibu Boats from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 5th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $32.31.
Shares of Malibu Boats, Inc. (NASDAQ:MBUU) opened at $28.42 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.71 and a current ratio of 1.46. Malibu Boats, Inc. has a 1 year low of $16.66 and a 1 year high of $33.35. The firm has a market capitalization of $571.70, a P/E ratio of 16.70, a P/E/G ratio of 0.98 and a beta of 1.02.
Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, September 7th. The company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. Malibu Boats had a return on equity of 54.78% and a net margin of 9.42%. The company had revenue of $75.11 million for the quarter, compared to analyst estimates of $73.35 million. During the same period in the previous year, the company posted $0.38 earnings per share. The firm’s revenue was up 12.6% on a year-over-year basis. research analysts predict that Malibu Boats, Inc. will post 1.91 EPS for the current fiscal year.
About Malibu Boats
Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s segments include the U.S. and Australia. Each segment is engaged in the manufacturing, distribution, marketing and sale of performance sport boats. Its U.S. segment serves markets in North America, South America, Europe and Asia.
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