VELA Investment Management LLC Takes Position in Malibu Boats, Inc. (NASDAQ:MBUU)

VELA Investment Management LLC bought a new position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 7,751 shares of the company’s stock, valued at approximately $425,000.

Several other hedge funds have also recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. increased its stake in shares of Malibu Boats by 828.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 41,686 shares of the company’s stock valued at $2,285,000 after purchasing an additional 37,197 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Malibu Boats by 272.7% in the 3rd quarter. Invesco Ltd. now owns 127,109 shares of the company’s stock valued at $6,231,000 after purchasing an additional 93,004 shares in the last quarter. UBS Group AG grew its holdings in shares of Malibu Boats by 33.7% during the 3rd quarter. UBS Group AG now owns 147,563 shares of the company’s stock valued at $7,234,000 after purchasing an additional 37,217 shares during the last quarter. Vanguard Group Inc. lifted its stake in Malibu Boats by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,365,273 shares of the company’s stock valued at $66,926,000 after purchasing an additional 35,474 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Malibu Boats by 1.8% during the third quarter. Swiss National Bank now owns 45,400 shares of the company’s stock worth $2,226,000 after buying an additional 800 shares during the last quarter. 91.35% of the stock is currently owned by institutional investors and hedge funds.

Malibu Boats Stock Down 1.4 %

NASDAQ:MBUU traded down $0.52 during trading hours on Tuesday, hitting $35.62. The stock had a trading volume of 31,709 shares, compared to its average volume of 248,623. The company has a current ratio of 1.82, a quick ratio of 0.69 and a debt-to-equity ratio of 0.06. The business has a 50 day simple moving average of $42.83 and a two-hundred day simple moving average of $46.64. The company has a market cap of $727.72 million, a PE ratio of 11.58 and a beta of 1.37. Malibu Boats, Inc. has a 1-year low of $35.06 and a 1-year high of $62.36.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Tuesday, January 30th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The business had revenue of $211.07 million for the quarter, compared to analyst estimates of $219.64 million. During the same quarter last year, the business earned $1.78 earnings per share. The business’s revenue for the quarter was down 37.7% on a year-over-year basis. Analysts predict that Malibu Boats, Inc. will post 2.57 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MBUU shares. Raymond James downgraded Malibu Boats from an “outperform” rating to a “market perform” rating in a research note on Monday. B. Riley reduced their target price on Malibu Boats from $56.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, January 31st. StockNews.com raised Malibu Boats from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Truist Financial decreased their price target on shares of Malibu Boats from $62.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Finally, Robert W. Baird restated an “outperform” rating and set a $54.00 price target on shares of Malibu Boats in a research report on Friday, January 19th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Malibu Boats has a consensus rating of “Hold” and a consensus price target of $50.00.

Insider Activity

In other Malibu Boats news, insider Michael K. Hooks purchased 12,500 shares of the stock in a transaction dated Thursday, February 22nd. The stock was bought at an average price of $42.82 per share, for a total transaction of $535,250.00. Following the transaction, the insider now directly owns 12,500 shares in the company, valued at $535,250. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.62% of the company’s stock.

Malibu Boats Profile

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.