Koss Olinger Consulting LLC Reduces Stock Position in Malibu Boats, Inc. (NASDAQ:MBUU)

Koss Olinger Consulting LLC reduced its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 5.7% in the third quarter, HoldingsChannel.com reports. The firm owned 47,062 shares of the company’s stock after selling 2,847 shares during the period. Koss Olinger Consulting LLC’s holdings in Malibu Boats were worth $1,826,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Pzena Investment Management LLC purchased a new stake in shares of Malibu Boats during the second quarter worth about $51,800,000. Dimensional Fund Advisors LP boosted its holdings in shares of Malibu Boats by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock worth $39,661,000 after purchasing an additional 111,699 shares during the period. The Manufacturers Life Insurance Company raised its stake in Malibu Boats by 94.4% in the second quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock worth $29,560,000 after buying an additional 409,574 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in Malibu Boats by 231.4% in the first quarter. Lord Abbett & CO. LLC now owns 312,731 shares of the company’s stock worth $13,535,000 after buying an additional 218,378 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in Malibu Boats by 7.2% in the first quarter. Bessemer Group Inc. now owns 307,486 shares of the company’s stock worth $13,307,000 after buying an additional 20,700 shares in the last quarter. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

Malibu Boats Stock Performance

Shares of NASDAQ MBUU opened at $43.21 on Monday. Malibu Boats, Inc. has a fifty-two week low of $30.20 and a fifty-two week high of $56.03. The company has a 50 day simple moving average of $37.72 and a two-hundred day simple moving average of $36.56. The company has a market capitalization of $883.21 million, a price-to-earnings ratio of -16.18 and a beta of 1.38.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, August 29th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.07). Malibu Boats had a negative net margin of 6.74% and a positive return on equity of 6.21%. The firm had revenue of $158.70 million for the quarter, compared to analysts’ expectations of $157.54 million. During the same quarter in the previous year, the company earned $2.96 EPS. The company’s quarterly revenue was down 57.4% compared to the same quarter last year. On average, analysts forecast that Malibu Boats, Inc. will post 1.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

MBUU has been the subject of a number of research reports. DA Davidson reissued a “buy” rating and issued a $45.00 price target on shares of Malibu Boats in a research note on Tuesday, September 10th. Truist Financial reissued a “hold” rating and issued a $32.00 price target on shares of Malibu Boats in a research note on Monday, July 8th. StockNews.com downgraded shares of Malibu Boats from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Finally, B. Riley decreased their price target on shares of Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $40.00.

About Malibu Boats

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.