Grandeur Peak Global Advisors LLC Sells 43,300 Shares of Malibu Boats, Inc. (MBUU)

Grandeur Peak Global Advisors LLC trimmed its holdings in Malibu Boats, Inc. (NASDAQ:MBUU) by 33.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,123 shares of the company’s stock after selling 43,300 shares during the period. Grandeur Peak Global Advisors LLC owned about 0.49% of Malibu Boats worth $2,254,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MBUU. Wells Fargo & Company MN lifted its stake in shares of Malibu Boats by 7.3% in the first quarter. Wells Fargo & Company MN now owns 158,500 shares of the company’s stock valued at $3,558,000 after buying an additional 10,736 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Malibu Boats by 65.1% in the first quarter. Bank of New York Mellon Corp now owns 112,720 shares of the company’s stock valued at $2,530,000 after buying an additional 44,431 shares in the last quarter. Prudential Financial Inc. bought a new position in shares of Malibu Boats in the first quarter valued at $3,688,000. American International Group Inc. lifted its stake in shares of Malibu Boats by 7.1% in the first quarter. American International Group Inc. now owns 11,115 shares of the company’s stock valued at $250,000 after buying an additional 733 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Malibu Boats in the first quarter valued at $206,000. 90.19% of the stock is currently owned by hedge funds and other institutional investors.

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Malibu Boats, Inc. (MBUU) traded down 0.71% on Thursday, hitting $31.94. 71,052 shares of the company were exchanged. The company has a 50 day moving average price of $29.03 and a 200-day moving average price of $25.88. Malibu Boats, Inc. has a 52 week low of $14.12 and a 52 week high of $33.35. The stock has a market capitalization of $647.97 million, a P/E ratio of 20.22 and a beta of 1.04.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, September 7th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. The company had revenue of $75.11 million for the quarter, compared to analysts’ expectations of $73.35 million. Malibu Boats had a net margin of 10.06% and a return on equity of 78.71%. Malibu Boats’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 EPS. On average, equities analysts expect that Malibu Boats, Inc. will post $1.88 earnings per share for the current fiscal year.

A number of research analysts have weighed in on the stock. ValuEngine lowered shares of Malibu Boats from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. Aegis assumed coverage on shares of Malibu Boats in a research note on Monday, October 2nd. They issued a “buy” rating and a $37.00 price objective on the stock. Zacks Investment Research lowered shares of Malibu Boats from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. B. Riley lowered shares of Malibu Boats to a “neutral” rating and set a $25.25 price objective on the stock. in a research note on Monday, August 28th. Finally, BidaskClub lowered shares of Malibu Boats from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 5th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $30.07.

In other news, Director Peter E. Murphy purchased 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average price of $25.50 per share, for a total transaction of $76,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.50% of the company’s stock.

Malibu Boats Company Profile

Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s segments include the U.S. and Australia. Each segment is engaged in the manufacturing, distribution, marketing and sale of performance sport boats. Its U.S. segment serves markets in North America, South America, Europe and Asia.

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Institutional Ownership by Quarter for Malibu Boats (NASDAQ:MBUU)

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