Brandywine Global Investment Management LLC Sells 105,416 Shares of Malibu Boats, Inc. (MBUU)
Brandywine Global Investment Management LLC lessened its holdings in Malibu Boats, Inc. (NASDAQ:MBUU) by 54.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 87,261 shares of the company’s stock after selling 105,416 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.49% of Malibu Boats worth $2,258,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of MBUU. Macquarie Group Ltd. boosted its stake in Malibu Boats by 12.9% during the 1st quarter. Macquarie Group Ltd. now owns 1,273,917 shares of the company’s stock worth $28,599,000 after acquiring an additional 145,160 shares during the last quarter. Vanguard Group Inc. boosted its stake in Malibu Boats by 10.7% during the 2nd quarter. Vanguard Group Inc. now owns 893,667 shares of the company’s stock worth $23,120,000 after acquiring an additional 86,128 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Malibu Boats by 28.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 483,670 shares of the company’s stock worth $12,513,000 after acquiring an additional 107,413 shares during the last quarter. Hood River Capital Management LLC bought a new position in Malibu Boats during the 2nd quarter worth approximately $10,572,000. Finally, Renaissance Technologies LLC boosted its stake in Malibu Boats by 1.0% during the 1st quarter. Renaissance Technologies LLC now owns 272,300 shares of the company’s stock worth $6,113,000 after acquiring an additional 2,724 shares during the last quarter. 90.19% of the stock is currently owned by institutional investors.
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Several research analysts recently weighed in on MBUU shares. SunTrust Banks, Inc. reissued a “buy” rating and set a $32.00 price objective (up previously from $30.00) on shares of Malibu Boats in a research note on Friday, September 8th. BidaskClub lowered shares of Malibu Boats from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 5th. Aegis started coverage on shares of Malibu Boats in a research note on Monday, October 2nd. They set a “buy” rating and a $37.00 price objective on the stock. ValuEngine lowered shares of Malibu Boats from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Zacks Investment Research lowered shares of Malibu Boats from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $30.07.
Malibu Boats, Inc. (NASDAQ:MBUU) opened at 32.31 on Monday. The company’s 50-day moving average is $28.49 and its 200 day moving average is $25.61. Malibu Boats, Inc. has a 1-year low of $14.12 and a 1-year high of $33.35. The company has a market cap of $655.47 million, a price-to-earnings ratio of 20.45 and a beta of 1.03.
Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, September 7th. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. Malibu Boats had a return on equity of 78.71% and a net margin of 10.06%. The business had revenue of $75.11 million for the quarter, compared to analysts’ expectations of $73.35 million. During the same period in the prior year, the business posted $0.38 earnings per share. The firm’s revenue was up 12.6% on a year-over-year basis. On average, equities analysts predict that Malibu Boats, Inc. will post $1.88 EPS for the current fiscal year.
In other Malibu Boats news, Director Peter E. Murphy purchased 3,000 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were purchased at an average cost of $25.50 per share, for a total transaction of $76,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.50% of the stock is currently owned by corporate insiders.
Malibu Boats Profile
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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