Malibu Boats, Inc. (NASDAQ:MBUU) issued its quarterly earnings results on Wednesday. The company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.05. Malibu Boats had a return on equity of 217.30% and a net margin of 7.09%. The business had revenue of $67.70 million for the quarter, compared to analyst estimates of $64.60 million. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The company’s revenue was up 11.8% on a year-over-year basis.
Malibu Boats (NASDAQ:MBUU) opened at 18.56 on Wednesday. The firm has a market capitalization of $328.92 million, a P/E ratio of 18.38 and a beta of 0.92. The firm has a 50-day moving average price of $18.51 and a 200-day moving average price of $15.84. Malibu Boats has a one year low of $11.38 and a one year high of $20.10.
In other news, COO Ritchie L. Anderson sold 8,344 shares of the firm’s stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $19.19, for a total transaction of $160,121.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.71% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. BlackRock Advisors LLC increased its position in Malibu Boats by 0.8% in the second quarter. BlackRock Advisors LLC now owns 9,132 shares of the company’s stock worth $110,000 after buying an additional 75 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in Malibu Boats during the third quarter worth about $121,000. Cooke & Bieler LP purchased a new position in Malibu Boats during the third quarter worth about $156,000. Citadel Advisors LLC purchased a new position in Malibu Boats during the third quarter worth about $164,000. Finally, B. Riley Financial Inc. increased its position in Malibu Boats by 7.5% in the second quarter. B. Riley Financial Inc. now owns 14,924 shares of the company’s stock worth $180,000 after buying an additional 1,045 shares in the last quarter. 93.40% of the stock is currently owned by institutional investors and hedge funds.
Separately, B. Riley reiterated a “buy” rating and issued a $19.00 target price on shares of Malibu Boats in a research report on Monday, November 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Malibu Boats currently has an average rating of “Hold” and a consensus price target of $20.67.
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.