Central Pacific Bank Trust Division Invests $142,000 in Malibu Boats, Inc. (NASDAQ:MBUU)

Central Pacific Bank Trust Division purchased a new position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,258 shares of the company’s stock, valued at approximately $142,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings 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 buying an additional 35,474 shares during the period. Dimensional Fund Advisors LP raised its holdings in Malibu Boats by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 998,994 shares of the company’s stock valued at $54,765,000 after buying an additional 38,450 shares during the period. Cooke & Bieler LP raised its holdings in Malibu Boats by 35.2% in the 4th quarter. Cooke & Bieler LP now owns 920,761 shares of the company’s stock valued at $50,476,000 after buying an additional 239,707 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Malibu Boats by 1.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 435,541 shares of the company’s stock valued at $23,876,000 after buying an additional 7,844 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH raised its holdings in Malibu Boats by 14.7% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 365,540 shares of the company’s stock valued at $20,039,000 after buying an additional 46,714 shares during the period. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Stock Up 0.4 %

Malibu Boats stock traded up $0.12 during mid-day trading on Wednesday, hitting $30.64. The company had a trading volume of 16,274 shares, compared to its average volume of 264,896. The stock has a market cap of $626.28 million, a price-to-earnings ratio of -11.42 and a beta of 1.40. Malibu Boats, Inc. has a 1 year low of $30.20 and a 1 year high of $60.72. The company has a quick ratio of 0.66, a current ratio of 1.67 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $35.36 and a 200 day moving average of $41.36.

Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, May 2nd. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. The business had revenue of $203.42 million for the quarter, compared to analyst estimates of $205.83 million. Malibu Boats had a negative net margin of 5.19% and a positive return on equity of 18.01%. On average, sell-side analysts expect that Malibu Boats, Inc. will post 1.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Truist Financial restated a “hold” rating and issued a $32.00 price objective on shares of Malibu Boats in a report on Monday. B. Riley cut their price target on shares of Malibu Boats from $45.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Raymond James lowered shares of Malibu Boats from an “outperform” rating to a “market perform” rating in a research note on Monday, April 15th. Robert W. Baird cut their price target on shares of Malibu Boats from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Finally, StockNews.com lowered shares of Malibu Boats from a “hold” rating to a “sell” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $41.71.

Insider Buying and Selling

In other Malibu Boats news, Director Mark W. Lanigan bought 20,000 shares of Malibu Boats stock in a transaction on Monday, May 6th. The stock was bought at an average price of $33.43 per share, with a total value of $668,600.00. Following the completion of the acquisition, the director now owns 73,368 shares in the company, valued at $2,452,692.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.