Ziegler Capital Management LLC Takes Position in Malibu Boats, Inc. (NASDAQ:MBUU)

Ziegler Capital Management LLC bought a new position in shares of Malibu Boats, Inc. (NASDAQ:MBUUFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 53,914 shares of the company’s stock, valued at approximately $2,956,000. Ziegler Capital Management LLC owned approximately 0.26% of Malibu Boats as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Malibu Boats by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,365,273 shares of the company’s stock worth $66,926,000 after purchasing an additional 35,474 shares in the last quarter. Wellington Management Group LLP bought a new stake in Malibu Boats during the 3rd quarter worth approximately $765,000. Deutsche Bank AG increased its stake in Malibu Boats by 12.0% during the 3rd quarter. Deutsche Bank AG now owns 13,306 shares of the company’s stock worth $652,000 after purchasing an additional 1,427 shares in the last quarter. Comerica Bank bought a new stake in Malibu Boats during the 3rd quarter worth approximately $27,000. Finally, The Manufacturers Life Insurance Company boosted its position in Malibu Boats by 0.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 427,697 shares of the company’s stock worth $20,966,000 after acquiring an additional 2,789 shares during the last quarter. 91.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MBUU has been the subject of a number of recent research reports. Robert W. Baird reaffirmed an “outperform” rating and set a $54.00 price target on shares of Malibu Boats in a research report on Friday, January 19th. B. Riley reduced their price target 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. KeyCorp cut their price objective on Malibu Boats from $58.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st. StockNews.com raised Malibu Boats from a “sell” rating to a “hold” rating in a report on Monday, February 26th. Finally, Truist Financial cut their price objective on Malibu Boats from $62.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Get Our Latest Stock Analysis on MBUU

Malibu Boats Stock Up 2.9 %

Shares of NASDAQ MBUU opened at $40.69 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 1.82. Malibu Boats, Inc. has a 52 week low of $37.70 and a 52 week high of $62.36. The stock has a market capitalization of $831.30 million, a P/E ratio of 13.04 and a beta of 1.37. The stock’s fifty day moving average is $45.57 and its 200 day moving average is $47.48.

Malibu Boats (NASDAQ:MBUUGet Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. Malibu Boats had a return on equity of 24.23% and a net margin of 5.32%. The company had revenue of $211.07 million for the quarter, compared to analysts’ expectations of $219.64 million. During the same quarter last year, the business earned $1.78 earnings per share. Malibu Boats’s revenue was down 37.7% on a year-over-year basis. Sell-side analysts forecast that Malibu Boats, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael K. Hooks purchased 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were bought at an average price of $42.82 per share, for a total transaction of $535,250.00. Following the completion of the transaction, the insider now owns 12,500 shares of the company’s stock, valued at $535,250. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.62% of the stock is owned by company insiders.

Malibu Boats Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Malibu Boats (NASDAQ:MBUU)

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