Dean Capital Management Acquires 51,927 Shares of Malibu Boats, Inc. $MBUU

by · The Markets Daily

Dean Capital Management boosted its holdings in shares of Malibu Boats, Inc. (NASDAQ:MBUU – Free Report) by 107.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,285 shares of the company’s stock after purchasing an additional 51,927 shares during the period. Malibu Boats accounts for approximately 1.3% of Dean Capital Management’s holdings, making the stock its 14th largest holding. Dean Capital Management’s holdings in Malibu Boats were worth $3,254,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in Malibu Boats by 4.9% in the second quarter. Bank of New York Mellon Corp now owns 352,897 shares of the company’s stock worth $11,060,000 after purchasing an additional 16,422 shares in the last quarter. Twin Lions Management LLC increased its stake in shares of Malibu Boats by 60.2% in the second quarter. Twin Lions Management LLC now owns 1,080,301 shares of the company’s stock valued at $33,857,000 after buying an additional 405,838 shares in the last quarter. Cooke & Bieler LP increased its stake in shares of Malibu Boats by 12.4% in the third quarter. Cooke & Bieler LP now owns 1,544,091 shares of the company’s stock valued at $50,106,000 after buying an additional 170,178 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Malibu Boats in the third quarter valued at about $1,041,000. Finally, Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Malibu Boats by 28.6% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 505,625 shares of the company’s stock valued at $16,408,000 after buying an additional 112,561 shares during the last quarter. Institutional investors own 91.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MBUU shares. Wall Street Zen lowered shares of Malibu Boats from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Zacks Research raised shares of Malibu Boats from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. B. Riley Financial reduced their target price on shares of Malibu Boats from $33.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 25th. Loop Capital assumed coverage on shares of Malibu Boats in a research note on Monday, December 22nd. They set a “buy” rating and a $34.00 price target on the stock. Finally, Griffin Securities set a $30.00 price target on shares of Malibu Boats in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $32.33.

Check Out Our Latest Stock Analysis on Malibu Boats

Malibu Boats Price Performance

Malibu Boats stock opened at $25.75 on Monday. The business’s 50-day simple moving average is $30.87 and its 200 day simple moving average is $30.29. The company has a quick ratio of 0.49, a current ratio of 1.56 and a debt-to-equity ratio of 0.04. The stock has a market cap of $478.95 million, a price-to-earnings ratio of 35.27 and a beta of 1.22. Malibu Boats, Inc. has a 12-month low of $24.05 and a 12-month high of $39.65.

Malibu Boats (NASDAQ:MBUU – Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01. Malibu Boats had a return on equity of 4.25% and a net margin of 1.76%.The firm had revenue of $188.62 million during the quarter, compared to analysts’ expectations of $181.96 million. During the same period in the previous year, the business posted $0.31 EPS. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. As a group, research analysts anticipate that Malibu Boats, Inc. will post 1.69 earnings per share for the current year.

Malibu Boats declared that its Board of Directors has authorized a stock buyback plan on Friday, December 19th that allows the company to repurchase $70.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 12.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

About Malibu Boats

(Free Report)

Malibu Boats, Inc is a leading designer, manufacturer and distributor of performance sport boats for the recreational boating market. The company’s product portfolio includes the premium Malibu® brand and the value-oriented Axis® Wake Research line, as well as Cobalt® boats following its 2020 acquisition. Malibu’s vessels are engineered to serve water-sports enthusiasts, with models optimized for wakeboarding, wakesurfing and waterskiing.

Founded in 1982 by water-sports enthusiast Jack Springer, Malibu Boats is headquartered in Loudon, Tennessee.

Further Reading

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