Gradient Investments LLC lifted its holdings in shares of Malibu Boats Inc (NASDAQ:MBUU) by 25.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,134 shares of the company’s stock after buying an additional 5,960 shares during the period. Gradient Investments LLC owned about 0.14% of Malibu Boats worth $894,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Advisor Group Inc. raised its holdings in shares of Malibu Boats by 111.1% during the 2nd quarter. Advisor Group Inc. now owns 859 shares of the company’s stock worth $33,000 after buying an additional 452 shares in the last quarter. Aperio Group LLC acquired a new position in shares of Malibu Boats during the 2nd quarter worth $36,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Malibu Boats during the 2nd quarter worth $68,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Malibu Boats during the 2nd quarter worth $224,000. Finally, Oliver Luxxe Assets LLC acquired a new position in shares of Malibu Boats during the 2nd quarter worth $232,000.
MBUU has been the subject of a number of research analyst reports. B. Riley lowered their price target on Malibu Boats from $62.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Zacks Investment Research raised Malibu Boats from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. BMO Capital Markets lowered their price target on Malibu Boats from $62.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, August 30th. SunTrust Banks lowered their price target on Malibu Boats to $48.00 and set a “buy” rating for the company in a report on Monday, June 17th. Finally, Wells Fargo & Co set a $40.00 price objective on Malibu Boats and gave the stock a “buy” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $47.83.
Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, August 29th. The company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.15. The business had revenue of $194.82 million for the quarter, compared to analyst estimates of $185.75 million. Malibu Boats had a return on equity of 44.28% and a net margin of 9.66%. Malibu Boats’s quarterly revenue was up 40.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS. As a group, equities research analysts expect that Malibu Boats Inc will post 3.82 EPS for the current fiscal year.
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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