ClariVest Asset Management LLC acquired a new stake in Malibu Boats Inc (NASDAQ:MBUU) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,929 shares of the company’s stock, valued at approximately $215,000.
Several other institutional investors have also bought and sold shares of MBUU. Smith Asset Management Group LP boosted its stake in shares of Malibu Boats by 4.5% in the third quarter. Smith Asset Management Group LP now owns 72,230 shares of the company’s stock worth $3,952,000 after acquiring an additional 3,080 shares during the last quarter. Alps Advisors Inc. boosted its stake in shares of Malibu Boats by 25.3% in the second quarter. Alps Advisors Inc. now owns 17,447 shares of the company’s stock worth $519,000 after acquiring an additional 3,519 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Malibu Boats in the third quarter worth approximately $197,000. First Hawaiian Bank acquired a new stake in shares of Malibu Boats in the third quarter worth approximately $235,000. Finally, Affinity Investment Advisors LLC acquired a new stake in shares of Malibu Boats in the second quarter worth approximately $229,000. Institutional investors and hedge funds own 97.88% of the company’s stock.
A number of analysts have recently issued reports on the company. SunTrust Banks lifted their price target on Malibu Boats to $60.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. ValuEngine raised Malibu Boats from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. B. Riley lifted their price target on Malibu Boats from $41.00 to $46.50 and gave the stock a “neutral” rating in a research note on Friday, September 7th. Raymond James lifted their price target on Malibu Boats from $48.00 to $61.00 and gave the stock a “strong-buy” rating in a research note on Friday, September 7th. Finally, Zacks Investment Research raised Malibu Boats from a “hold” rating to a “strong-buy” rating and set a $60.00 price target on the stock in a research note on Thursday, September 13th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $56.57.
Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.13. The firm had revenue of $123.50 million for the quarter, compared to analyst estimates of $113.67 million. Malibu Boats had a return on equity of 44.97% and a net margin of 6.39%. The business’s revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 earnings per share. Research analysts anticipate that Malibu Boats Inc will post 3.32 EPS for the current fiscal year.
In other Malibu Boats news, insider Clair William Paxson St, Jr. sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $52.60, for a total transaction of $789,000.00. Following the transaction, the insider now owns 24,262 shares of the company’s stock, valued at $1,276,181.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Phillip S. Estes sold 80,000 shares of the business’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $52.87, for a total value of $4,229,600.00. Following the transaction, the director now directly owns 28,298 shares in the company, valued at approximately $1,496,115.26. The disclosure for this sale can be found here. Insiders have sold 215,823 shares of company stock worth $11,390,169 in the last three months. 3.35% of the stock is currently owned by corporate insiders.
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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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