Citigroup Inc. Trims Stock Position in Malibu Boats, Inc. (NASDAQ:MBUU)

Citigroup Inc. lessened its holdings in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 52.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,117 shares of the company’s stock after selling 5,669 shares during the period. Citigroup Inc.’s holdings in Malibu Boats were worth $251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MBUU. IFP Advisors Inc purchased a new position in Malibu Boats in the third quarter valued at $25,000. Quarry LP purchased a new position in Malibu Boats in the second quarter valued at $25,000. Public Employees Retirement System of Ohio increased its holdings in Malibu Boats by 44.7% in the third quarter. Public Employees Retirement System of Ohio now owns 560 shares of the company’s stock valued at $27,000 after buying an additional 173 shares in the last quarter. Comerica Bank purchased a new position in Malibu Boats in the third quarter valued at $27,000. Finally, Ensign Peak Advisors Inc purchased a new position in Malibu Boats in the third quarter valued at $29,000. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MBUU shares. B. Riley cut their price objective on shares of Malibu Boats from $56.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 31st. StockNews.com raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a report on Monday, February 26th. Robert W. Baird reissued an “outperform” rating and set a $54.00 target price on shares of Malibu Boats in a research note on Friday, January 19th. Truist Financial cut their target price on shares of Malibu Boats from $62.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Finally, Raymond James cut their target price on shares of Malibu Boats from $59.00 to $46.00 and set an “outperform” rating for the company in a research note on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

Insider Buying and Selling

In other Malibu Boats news, insider Michael K. Hooks purchased 12,500 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were purchased at an average cost 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 approximately $535,250. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.62% of the stock is currently owned by company insiders.

Malibu Boats Stock Performance

MBUU opened at $42.05 on Thursday. The firm has a market capitalization of $859.08 million, a PE ratio of 13.48 and a beta of 1.37. Malibu Boats, Inc. has a twelve month low of $37.70 and a twelve month high of $62.36. The firm’s 50-day moving average price is $44.58 and its 200 day moving average price is $47.21. The company has a current ratio of 1.82, a quick ratio of 0.69 and a debt-to-equity ratio of 0.06.

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

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.