27,700 Shares in Malibu Boats, Inc. (NASDAQ:MBUU) Purchased by Readystate Asset Management LP

Readystate Asset Management LP acquired a new position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 27,700 shares of the company’s stock, valued at approximately $1,075,000. Readystate Asset Management LP owned approximately 0.14% of Malibu Boats at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MBUU. Studio Investment Management LLC lifted its holdings in shares of Malibu Boats by 264.4% during the second quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock valued at $25,000 after purchasing an additional 513 shares during the last quarter. nVerses Capital LLC purchased a new position in Malibu Boats during the third quarter valued at $74,000. SG Americas Securities LLC bought a new stake in Malibu Boats in the second quarter worth $139,000. Benjamin Edwards Inc. grew its stake in shares of Malibu Boats by 43.1% in the second quarter. Benjamin Edwards Inc. now owns 5,112 shares of the company’s stock worth $179,000 after acquiring an additional 1,539 shares during the last quarter. Finally, US Bancorp DE increased its holdings in shares of Malibu Boats by 851.7% during the third quarter. US Bancorp DE now owns 5,434 shares of the company’s stock valued at $211,000 after acquiring an additional 4,863 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Trading Up 0.6 %

NASDAQ:MBUU opened at $44.23 on Thursday. The company has a quick ratio of 0.52, a current ratio of 1.55 and a debt-to-equity ratio of 0.05. The company has a 50 day simple moving average of $41.81 and a two-hundred day simple moving average of $38.02. Malibu Boats, Inc. has a 12 month low of $30.20 and a 12 month high of $56.03.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.16. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The company had revenue of $171.60 million during the quarter, compared to analyst estimates of $165.33 million. During the same quarter in the previous year, the company posted $1.07 earnings per share. Malibu Boats’s revenue was down 32.9% compared to the same quarter last year. Sell-side analysts expect that Malibu Boats, Inc. will post 2.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MBUU. KeyCorp upped their price target on shares of Malibu Boats from $38.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Robert W. Baird upped their target price on shares of Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Benchmark reissued a “buy” rating and set a $44.00 price target on shares of Malibu Boats in a research report on Friday, November 1st. Truist Financial boosted their price objective on shares of Malibu Boats from $32.00 to $42.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, StockNews.com upgraded Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.57.

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.