Malibu Boats, Inc. (NASDAQ:MBUU) Director Peter E. Murphy purchased 3,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were acquired at an average cost of $25.50 per share, with a total value of $76,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Malibu Boats, Inc. (NASDAQ:MBUU) traded up 1.86% during mid-day trading on Friday, hitting $27.93. The stock had a trading volume of 516,223 shares. The company has a 50 day moving average price of $26.80 and a 200 day moving average price of $24.58. Malibu Boats, Inc. has a one year low of $14.12 and a one year high of $29.50. The stock has a market cap of $566.62 million, a P/E ratio of 17.68 and a beta of 0.99.
Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, September 7th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.42 by $0.01. Malibu Boats had a net margin of 10.06% and a return on equity of 78.71%. The business had revenue of $75.11 million for the quarter, compared to analysts’ expectations of $73.35 million. During the same quarter last year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, equities analysts anticipate that Malibu Boats, Inc. will post $1.89 EPS for the current year.
Several hedge funds have recently modified their holdings of the company. Lord Abbett & CO. LLC lifted its position in shares of Malibu Boats by 1.9% during the second quarter. Lord Abbett & CO. LLC now owns 873,928 shares of the company’s stock worth $22,609,000 after purchasing an additional 16,256 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its position in shares of Malibu Boats by 183.8% during the second quarter. Dynamic Technology Lab Private Ltd now owns 26,058 shares of the company’s stock worth $674,000 after purchasing an additional 16,875 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Malibu Boats during the second quarter worth about $518,000. Susquehanna International Group LLP bought a new position in shares of Malibu Boats during the second quarter worth about $200,000. Finally, State Street Corp lifted its position in shares of Malibu Boats by 2.6% during the second quarter. State Street Corp now owns 402,640 shares of the company’s stock worth $10,412,000 after purchasing an additional 10,308 shares during the last quarter.
A number of analysts have recently commented on the company. Zacks Investment Research cut Malibu Boats from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. B. Riley cut Malibu Boats to a “neutral” rating and set a $25.25 target price on the stock. in a research report on Monday, August 28th. BidaskClub cut Malibu Boats from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 5th. BMO Capital Markets reiterated a “hold” rating and set a $29.00 target price on shares of Malibu Boats in a research report on Wednesday, July 5th. Finally, KeyCorp reiterated an “overweight” rating and set a $31.00 target price on shares of Malibu Boats in a research report on Wednesday, August 30th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $28.92.
About Malibu Boats
Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s segments include the U.S. and Australia. Each segment is engaged in the manufacturing, distribution, marketing and sale of performance sport boats. Its U.S. segment serves markets in North America, South America, Europe and Asia.
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