Prudential Financial Inc. raised its stake in Malibu Boats Inc (NASDAQ:MBUU) by 24.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 135,788 shares of the company’s stock after purchasing an additional 26,353 shares during the quarter. Prudential Financial Inc. owned 0.65% of Malibu Boats worth $5,275,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its stake in shares of Malibu Boats by 4.2% in the second quarter. Envestnet Asset Management Inc. now owns 9,291 shares of the company’s stock worth $361,000 after purchasing an additional 373 shares during the last quarter. Advisor Group Inc. increased its position in shares of Malibu Boats by 111.1% during the second quarter. Advisor Group Inc. now owns 859 shares of the company’s stock valued at $33,000 after acquiring an additional 452 shares during the last quarter. Alps Advisors Inc. increased its position in shares of Malibu Boats by 6.5% during the first quarter. Alps Advisors Inc. now owns 9,065 shares of the company’s stock valued at $359,000 after acquiring an additional 551 shares during the last quarter. Chicago Equity Partners LLC increased its position in shares of Malibu Boats by 2.2% during the second quarter. Chicago Equity Partners LLC now owns 33,205 shares of the company’s stock valued at $1,290,000 after acquiring an additional 720 shares during the last quarter. Finally, Affinity Investment Advisors LLC increased its position in shares of Malibu Boats by 8.2% during the second quarter. Affinity Investment Advisors LLC now owns 9,542 shares of the company’s stock valued at $371,000 after acquiring an additional 725 shares during the last quarter. 99.69% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently commented on the company. B. Riley decreased their price target on Malibu Boats from $62.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. SunTrust Banks decreased their price target on Malibu Boats to $48.00 and set a “buy” rating for the company in a research report on Monday, June 17th. Wells Fargo & Co set a $40.00 price target on Malibu Boats and gave the company a “buy” rating in a research report on Thursday, August 29th. Zacks Investment Research downgraded Malibu Boats from a “hold” rating to a “sell” rating in a research report on Thursday, August 29th. Finally, Raymond James downgraded Malibu Boats from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Malibu Boats currently has a consensus rating of “Hold” and an average price target of $47.83.

NASDAQ MBUU traded up $0.90 on Friday, hitting $31.25. 3,887 shares of the stock traded hands, compared to its average volume of 310,146. The business’s fifty day moving average is $27.99 and its two-hundred day moving average is $37.08. Malibu Boats Inc has a 12 month low of $24.79 and a 12 month high of $57.90. The firm has a market capitalization of $634.98 million, a price-to-earnings ratio of 8.51, a PEG ratio of 0.80 and a beta of 1.81. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.79 and a current ratio of 1.69.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Thursday, August 29th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.15. Malibu Boats had a return on equity of 44.28% and a net margin of 9.66%. The business had revenue of $194.82 million during the quarter, compared to analyst estimates of $185.75 million. During the same period in the prior year, the company earned $0.76 earnings per share. Malibu Boats’s revenue was up 40.5% compared to the same quarter last year. Analysts expect that Malibu Boats Inc will post 3.82 EPS for the current fiscal 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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Institutional Ownership by Quarter for Malibu Boats (NASDAQ:MBUU)

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