Malibu Boats Inc (NASDAQ:MBUU) COO Ritchie L. Anderson sold 10,750 shares of the stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $52.58, for a total transaction of $565,235.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Malibu Boats stock traded down $0.48 during mid-day trading on Friday, reaching $51.33. The company had a trading volume of 160,885 shares, compared to its average volume of 195,641. Malibu Boats Inc has a fifty-two week low of $27.44 and a fifty-two week high of $59.57. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.05 and a quick ratio of 1.37. The firm has a market capitalization of $1.13 billion, a P/E ratio of 20.37, a P/E/G ratio of 1.15 and a beta of 1.11.
Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Thursday, September 6th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.17. Malibu Boats had a net margin of 5.56% and a return on equity of 43.60%. The firm had revenue of $138.66 million for the quarter, compared to analyst estimates of $122.65 million. During the same quarter last year, the business posted $0.43 earnings per share. The company’s quarterly revenue was up 84.6% on a year-over-year basis. On average, analysts expect that Malibu Boats Inc will post 3.18 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of MBUU. Wells Fargo & Company MN boosted its position in Malibu Boats by 41.6% in the first quarter. Wells Fargo & Company MN now owns 223,973 shares of the company’s stock valued at $7,438,000 after buying an additional 65,817 shares in the last quarter. Trexquant Investment LP acquired a new stake in Malibu Boats in the first quarter valued at approximately $282,000. American Century Companies Inc. boosted its position in Malibu Boats by 6.3% in the first quarter. American Century Companies Inc. now owns 695,743 shares of the company’s stock valued at $23,106,000 after buying an additional 40,939 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in Malibu Boats by 11.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 97,737 shares of the company’s stock valued at $3,246,000 after buying an additional 9,909 shares in the last quarter. Finally, Columbus Circle Investors acquired a new stake in Malibu Boats in the first quarter valued at approximately $7,307,000. Hedge funds and other institutional investors own 97.82% of the company’s stock.
Several analysts recently issued reports on the stock. B. Riley upgraded shares of Malibu Boats from a “neutral” rating to a “buy” rating and increased their price target for the stock from $46.50 to $60.00 in a research report on Monday, September 17th. SunTrust Banks increased their price target on shares of Malibu Boats to $60.00 and gave the stock a “buy” rating in a research report on Friday, September 7th. BMO Capital Markets increased their price target on shares of Malibu Boats from $48.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, September 7th. ValuEngine lowered shares of Malibu Boats from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. Finally, BidaskClub upgraded shares of Malibu Boats from a “hold” rating to a “buy” rating in a research report on Saturday, August 25th. Six analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $57.14.
Malibu Boats Company Profile
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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