Malibu Boats Inc (NASDAQ:MBUU) insider Clair William Paxson St, Jr. sold 15,000 shares of Malibu Boats stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $52.60, for a total value of $789,000.00. Following the completion of the sale, the insider now directly owns 24,262 shares of the company’s stock, valued at approximately $1,276,181.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of MBUU traded down $0.48 during trading hours on Friday, reaching $51.33. 160,885 shares of the company’s stock traded hands, compared to its average volume of 195,641. The company has a market cap of $1.13 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 1.15 and a beta of 1.11. The company has a current ratio of 2.05, a quick ratio of 1.37 and a debt-to-equity ratio of 0.78. Malibu Boats Inc has a 12 month low of $27.44 and a 12 month high of $59.57.
Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, September 6th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.17. The firm had revenue of $138.66 million during the quarter, compared to the consensus estimate of $122.65 million. Malibu Boats had a return on equity of 43.60% and a net margin of 5.56%. The company’s revenue for the quarter was up 84.6% on a year-over-year basis. During the same quarter last year, the company posted $0.43 EPS. As a group, analysts predict that Malibu Boats Inc will post 3.18 earnings per share for the current year.
Several brokerages have commented on MBUU. B. Riley upgraded Malibu Boats from a “neutral” rating to a “buy” rating and raised their target price for the stock from $46.50 to $60.00 in a research note on Monday, September 17th. SunTrust Banks raised their target price on Malibu Boats to $60.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. BMO Capital Markets raised their target price on Malibu Boats from $48.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, September 7th. ValuEngine downgraded Malibu Boats from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Finally, BidaskClub upgraded Malibu Boats from a “hold” rating to a “buy” rating in a research note on Saturday, August 25th. Six equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $57.14.
Several institutional investors and hedge funds have recently modified their holdings of MBUU. Wells Fargo & Company MN lifted its position in Malibu Boats by 41.6% in the 1st quarter. Wells Fargo & Company MN now owns 223,973 shares of the company’s stock worth $7,438,000 after buying an additional 65,817 shares during the last quarter. Trexquant Investment LP bought a new stake in Malibu Boats in the 1st quarter worth approximately $282,000. American Century Companies Inc. lifted its position in Malibu Boats by 6.3% in the 1st quarter. American Century Companies Inc. now owns 695,743 shares of the company’s stock worth $23,106,000 after buying an additional 40,939 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in Malibu Boats by 11.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 97,737 shares of the company’s stock worth $3,246,000 after buying an additional 9,909 shares during the last quarter. Finally, Columbus Circle Investors bought a new stake in Malibu Boats in the 1st quarter worth approximately $7,307,000. Hedge funds and other institutional investors own 97.82% of the company’s stock.
About Malibu Boats
Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.
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