7,751 Shares in Malibu Boats, Inc. (NASDAQ:MBUU) Purchased by VELA Investment Management LLC

VELA Investment Management LLC acquired a new stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU) during the fourth quarter, Holdings Channel.com reports. The fund acquired 7,751 shares of the company’s stock, valued at approximately $425,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MBUU. Millennium Management LLC acquired a new stake in shares of Malibu Boats in the 2nd quarter valued at $9,260,000. Invesco Ltd. grew its position in shares of Malibu Boats by 272.7% in the third quarter. Invesco Ltd. now owns 127,109 shares of the company’s stock valued at $6,231,000 after purchasing an additional 93,004 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its position in Malibu Boats by 29.3% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 318,826 shares of the company’s stock worth $15,629,000 after buying an additional 72,330 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in Malibu Boats by 57.8% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 196,943 shares of the company’s stock worth $9,654,000 after purchasing an additional 72,120 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its stake in shares of Malibu Boats by 27.1% in the 3rd quarter. Epoch Investment Partners Inc. now owns 267,168 shares of the company’s stock valued at $13,097,000 after acquiring an additional 56,968 shares during the last quarter. 91.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MBUU has been the subject of a number of recent analyst reports. B. Riley decreased their price target on Malibu Boats from $56.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 31st. KeyCorp dropped their target price on Malibu Boats from $58.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 31st. Truist Financial decreased their price target on shares of Malibu Boats from $62.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. StockNews.com raised Malibu Boats from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Finally, Raymond James lowered shares of Malibu Boats from an “outperform” rating to a “market perform” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $50.00.

Malibu Boats Stock Performance

Malibu Boats stock traded down $0.52 during mid-day trading on Tuesday, reaching $35.62. 31,709 shares of the company traded hands, compared to its average volume of 248,623. The company has a market capitalization of $727.72 million, a price-to-earnings ratio of 11.58 and a beta of 1.37. Malibu Boats, Inc. has a fifty-two week low of $35.06 and a fifty-two week high of $62.36. The firm’s fifty day moving average is $42.83 and its two-hundred day moving average is $46.64. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.82 and a quick ratio of 0.69.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Tuesday, January 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The company had revenue of $211.07 million during the quarter, compared to the consensus estimate of $219.64 million. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The firm’s quarterly revenue was down 37.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.78 earnings per share. On average, equities research analysts expect that Malibu Boats, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Malibu Boats

In other news, insider Michael K. Hooks bought 12,500 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was acquired at an average cost of $42.82 per share, for a total transaction of $535,250.00. Following the completion of the purchase, the insider now owns 12,500 shares of the company’s stock, valued at $535,250. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.62% of the company’s stock.

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.