Janus Henderson Group PLC Sells 46,413 Shares of Malibu Boats, Inc. $MBUU

Janus Henderson Group PLC reduced its position in Malibu Boats, Inc. (NASDAQ:MBUU) by 10.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 391,750 shares of the company’s stock after selling 46,413 shares during the quarter. Janus Henderson Group PLC owned about 1.99% of Malibu Boats worth $10,154,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MBUU. Parallel Advisors LLC bought a new position in Malibu Boats in the first quarter valued at about $194,403,000. Wellington Management Group LLP lifted its holdings in shares of Malibu Boats by 27.1% in the fourth quarter. Wellington Management Group LLP now owns 1,688,099 shares of the company’s stock worth $47,621,000 after acquiring an additional 359,550 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Malibu Boats in the first quarter worth about $2,321,000. Bank of America Corp DE lifted its holdings in shares of Malibu Boats by 31.5% in the second quarter. Bank of America Corp DE now owns 361,357 shares of the company’s stock worth $11,325,000 after acquiring an additional 86,526 shares during the last quarter. Finally, Twin Lions Management LLC boosted its stake in shares of Malibu Boats by 8.2% in the 4th quarter. Twin Lions Management LLC now owns 1,138,053 shares of the company’s stock valued at $32,104,000 after purchasing an additional 85,951 shares in the last quarter. 91.35% of the stock is currently owned by institutional investors and hedge funds.

Malibu Boats Stock Performance

Shares of MBUU stock opened at $29.24 on Wednesday. The company has a market cap of $574.19 million, a price-to-earnings ratio of -487.33 and a beta of 1.13. Malibu Boats, Inc. has a 52 week low of $23.84 and a 52 week high of $39.65. The company has a quick ratio of 0.44, a current ratio of 1.31 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average of $27.36 and a 200-day moving average of $27.89.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. Malibu Boats had a positive return on equity of 3.28% and a negative net margin of 0.11%.The business had revenue of $235.70 million for the quarter, compared to the consensus estimate of $203.46 million. During the same period in the prior year, the business earned $0.72 EPS. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, equities analysts forecast that Malibu Boats, Inc. will post 1.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MBUU shares. DA Davidson restated a “neutral” rating and set a $30.00 price objective on shares of Malibu Boats in a research report on Monday, June 15th. Weiss Ratings lowered Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Zacks Research cut Malibu Boats from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 9th. Wall Street Zen raised Malibu Boats from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Truist Financial raised their price objective on shares of Malibu Boats from $31.00 to $34.00 and gave the company a “hold” rating in a report on Monday, July 6th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Malibu Boats presently has a consensus rating of “Hold” and a consensus price target of $31.60.

Malibu Boats Company Profile

Malibu Boats, Inc is a leading designer, manufacturer and distributor of performance sport boats for the recreational boating market. The company’s product portfolio includes the premium Malibu® brand and the value-oriented Axis® Wake Research line, as well as Cobalt® boats following its 2020 acquisition. Malibu’s vessels are engineered to serve water-sports enthusiasts, with models optimized for wakeboarding, wakesurfing and waterskiing.

Founded in 1982 by water-sports enthusiast Jack Springer, Malibu Boats is headquartered in Loudon, Tennessee.