Gradient Investments LLC Raises Position in Malibu Boats Inc (NASDAQ:MBUU)
Gradient Investments LLC grew its holdings in shares of Malibu Boats Inc (NASDAQ:MBUU) by 92.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 23,174 shares of the company’s stock after purchasing an additional 11,130 shares during the quarter. Gradient Investments LLC’s holdings in Malibu Boats were worth $900,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. First Hawaiian Bank grew its stake in shares of Malibu Boats by 37.8% in the second quarter. First Hawaiian Bank now owns 7,400 shares of the company’s stock worth $287,000 after acquiring an additional 2,030 shares in the last quarter. Clark Capital Management Group Inc. grew its stake in shares of Malibu Boats by 45.7% in the second quarter. Clark Capital Management Group Inc. now owns 59,807 shares of the company’s stock worth $2,324,000 after acquiring an additional 18,762 shares in the last quarter. Oliver Luxxe Assets LLC acquired a new position in shares of Malibu Boats in the second quarter worth $232,000. Punch & Associates Investment Management Inc. grew its stake in shares of Malibu Boats by 1.1% in the first quarter. Punch & Associates Investment Management Inc. now owns 430,183 shares of the company’s stock worth $17,027,000 after acquiring an additional 4,594 shares in the last quarter. Finally, Hillcrest Asset Management LLC grew its stake in shares of Malibu Boats by 35.2% in the first quarter. Hillcrest Asset Management LLC now owns 282,596 shares of the company’s stock worth $11,185,000 after acquiring an additional 73,565 shares in the last quarter. Hedge funds and other institutional investors own 99.64% of the company’s stock.
Several equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Zafgen from a “buy” rating to a “hold” rating in a research note on Saturday, July 20th. KeyCorp reaffirmed an “overweight” rating and set a $55.00 price objective (down from $65.00) on shares of Brunswick in a research report on Monday, July 22nd. BidaskClub raised shares of Xilinx from a “hold” rating to a “buy” rating in a research report on Wednesday. B. Riley set a $6.00 price objective on shares of Intevac and gave the stock a “hold” rating in a research report on Friday, July 19th. Finally, SunTrust Banks decreased their price objective on shares of Malibu Boats to $48.00 and set a “buy” rating for the company in a research report on Monday, June 17th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $53.29.
Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, May 9th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.12. Malibu Boats had a net margin of 9.41% and a return on equity of 44.85%. The firm had revenue of $199.92 million during the quarter, compared to analysts’ expectations of $188.31 million. During the same period in the previous year, the company earned $0.89 earnings per share. Malibu Boats’s quarterly revenue was up 42.4% compared to the same quarter last year. On average, equities analysts expect that Malibu Boats Inc will post 3.55 earnings per share for the current year.
Malibu Boats Company Profile
Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.
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