Corton Capital Inc. Invests $211,000 in Malibu Boats, Inc. $MBUU

Corton Capital Inc. purchased a new position in Malibu Boats, Inc. (NASDAQ:MBUU) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 6,744 shares of the company’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Malibu Boats during the first quarter valued at approximately $895,000. Russell Investments Group Ltd. lifted its stake in Malibu Boats by 233.3% during the first quarter. Russell Investments Group Ltd. now owns 15,790 shares of the company’s stock valued at $484,000 after purchasing an additional 11,053 shares during the last quarter. Vanguard Group Inc. lifted its stake in Malibu Boats by 1.5% during the first quarter. Vanguard Group Inc. now owns 1,216,269 shares of the company’s stock valued at $37,315,000 after purchasing an additional 18,187 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Malibu Boats by 28.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 219,769 shares of the company’s stock valued at $6,743,000 after purchasing an additional 49,107 shares during the last quarter. Finally, Lodge Hill Capital LLC lifted its stake in Malibu Boats by 23.0% during the first quarter. Lodge Hill Capital LLC now owns 652,674 shares of the company’s stock valued at $20,024,000 after purchasing an additional 122,160 shares during the last quarter. 91.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MBUU has been the subject of several recent research reports. DA Davidson cut their target price on shares of Malibu Boats from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Monday, September 8th. Truist Financial increased their target price on shares of Malibu Boats from $30.00 to $37.00 and gave the company a “hold” rating in a research note on Tuesday, October 28th. Weiss Ratings restated a “sell (d+)” rating on shares of Malibu Boats in a research report on Friday, October 31st. Zacks Research upgraded shares of Malibu Boats from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 30th. Finally, B. Riley restated a “neutral” rating and issued a $30.00 price target (down previously from $33.00) on shares of Malibu Boats in a research report on Friday, October 31st. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.50.

Malibu Boats Stock Down 0.1%

Shares of NASDAQ:MBUU opened at $27.27 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.58 and a current ratio of 1.63. The company has a market cap of $524.81 million, a PE ratio of 35.42 and a beta of 1.20. Malibu Boats, Inc. has a 52 week low of $24.42 and a 52 week high of $47.30. The firm has a 50 day simple moving average of $31.97 and a 200 day simple moving average of $32.35.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. The firm had revenue of $194.73 million for the quarter, compared to analyst estimates of $182.09 million. Malibu Boats had a net margin of 1.84% and a return on equity of 4.93%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 EPS. As a group, research analysts expect that Malibu Boats, Inc. will post 1.69 earnings per share for the current year.

Malibu Boats Profile

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.