Lodge Hill Capital LLC Has $28.72 Million Holdings in Malibu Boats, Inc. $MBUU

Lodge Hill Capital LLC grew its stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 12.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 885,014 shares of the company’s stock after acquiring an additional 100,000 shares during the period. Malibu Boats makes up approximately 5.1% of Lodge Hill Capital LLC’s portfolio, making the stock its 8th biggest position. Lodge Hill Capital LLC’s holdings in Malibu Boats were worth $28,719,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its stake in shares of Malibu Boats by 3.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 22,969 shares of the company’s stock valued at $745,000 after acquiring an additional 858 shares during the last quarter. AlphaQuest LLC acquired a new position in Malibu Boats in the 3rd quarter worth about $492,000. Cooke & Bieler LP raised its position in Malibu Boats by 12.4% in the third quarter. Cooke & Bieler LP now owns 1,544,091 shares of the company’s stock valued at $50,106,000 after purchasing an additional 170,178 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Malibu Boats by 3.0% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 30,045 shares of the company’s stock valued at $975,000 after purchasing an additional 872 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Malibu Boats by 47.8% during the third quarter. SG Americas Securities LLC now owns 19,685 shares of the company’s stock worth $639,000 after purchasing an additional 6,363 shares during the last quarter. 91.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Loop Capital began coverage on shares of Malibu Boats in a report on Monday, December 22nd. They issued a “buy” rating and a $34.00 price objective for the company. B. Riley Financial decreased their price target on shares of Malibu Boats from $33.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, November 25th. Wall Street Zen downgraded shares of Malibu Boats from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Truist Financial boosted their price objective on shares of Malibu Boats from $30.00 to $37.00 and gave the stock a “hold” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Malibu Boats in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $32.80.

Malibu Boats Stock Down 2.7%

Shares of NASDAQ MBUU opened at $30.54 on Friday. The company’s 50 day moving average price is $31.00 and its 200-day moving average price is $31.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.49 and a current ratio of 1.56. Malibu Boats, Inc. has a 52-week low of $24.07 and a 52-week high of $39.65. The company has a market capitalization of $568.04 million, a P/E ratio of 41.84 and a beta of 1.22.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, February 5th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01. Malibu Boats had a net margin of 1.76% and a return on equity of 4.25%. The company had revenue of $188.62 million during the quarter, compared to analysts’ expectations of $181.96 million. During the same period in the prior year, the company posted $0.31 earnings per share. Malibu Boats’s revenue for the quarter was down 5.8% compared to the same quarter last year. Equities analysts forecast that Malibu Boats, Inc. will post 1.69 earnings per share for the current year.

Malibu Boats announced that its Board of Directors has approved a stock repurchase plan on Friday, December 19th that allows the company to buyback $70.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 12.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

About Malibu Boats

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.