Punch & Associates Investment Management Inc. Sells 245 Shares of Malibu Boats, Inc. (MBUU)
Punch & Associates Investment Management Inc. lessened its stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 0.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 562,354 shares of the company’s stock after selling 245 shares during the period. Malibu Boats accounts for approximately 1.4% of Punch & Associates Investment Management Inc.’s portfolio, making the stock its 10th biggest position. Punch & Associates Investment Management Inc. owned about 3.14% of Malibu Boats worth $14,548,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Malibu Boats during the 2nd quarter valued at about $116,000. Stevens Capital Management LP purchased a new stake in shares of Malibu Boats in the second quarter valued at about $201,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Malibu Boats in the first quarter valued at about $206,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Malibu Boats in the second quarter valued at about $211,000. Finally, Laurion Capital Management LP purchased a new stake in shares of Malibu Boats in the second quarter valued at about $211,000. Institutional investors and hedge funds own 90.19% of the company’s stock.
In other news, Director Peter E. Murphy bought 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average cost of $25.50 per share, with a total value of $76,500.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 3.50% of the stock is owned by insiders.
Several brokerages recently weighed in on MBUU. B. Riley lowered Malibu Boats to a “neutral” rating and set a $25.25 price objective for the company. in a research report on Saturday, September 2nd. Aegis assumed coverage on Malibu Boats in a research note on Monday. They set a “buy” rating and a $37.00 target price for the company. SunTrust Banks, Inc. restated a “buy” rating and issued a $32.00 target price (up previously from $30.00) on shares of Malibu Boats in a research report on Friday, September 8th. BidaskClub downgraded Malibu Boats from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research lowered Malibu Boats from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $30.07.
Shares of Malibu Boats, Inc. (NASDAQ MBUU) traded up 2.59% during trading on Monday, hitting $32.46. 124,541 shares of the stock traded hands. Malibu Boats, Inc. has a 52-week low of $14.12 and a 52-week high of $32.70. The company’s 50 day moving average is $26.80 and its 200 day moving average is $24.74. The firm has a market cap of $658.52 million, a PE ratio of 20.54 and a beta of 1.03.
Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, September 7th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Malibu Boats had a net margin of 10.06% and a return on equity of 78.71%. The firm had revenue of $75.11 million during the quarter, compared to the consensus estimate of $73.35 million. During the same period in the previous year, the firm earned $0.38 earnings per share. Malibu Boats’s revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts predict that Malibu Boats, Inc. will post $1.89 EPS for the current year.
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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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