Malibu Boats, Inc. (NASDAQ:MBUU) Shares Purchased by Cullen Capital Management LLC

Cullen Capital Management LLC grew its stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 20.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 22,875 shares of the company’s stock after acquiring an additional 3,871 shares during the period. Cullen Capital Management LLC owned about 0.12% of Malibu Boats worth $860,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MBUU. Wellington Management Group LLP raised its holdings in Malibu Boats by 3.8% during the 4th quarter. Wellington Management Group LLP now owns 1,533,605 shares of the company’s stock worth $57,648,000 after buying an additional 56,629 shares during the period. Cooke & Bieler LP raised its position in Malibu Boats by 1.0% during the fourth quarter. Cooke & Bieler LP now owns 1,343,660 shares of the company’s stock valued at $50,508,000 after buying an additional 13,767 shares during the period. American Century Companies Inc. lifted its stake in Malibu Boats by 10.6% in the 4th quarter. American Century Companies Inc. now owns 579,664 shares of the company’s stock worth $21,790,000 after acquiring an additional 55,767 shares in the last quarter. Geode Capital Management LLC lifted its stake in Malibu Boats by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock worth $22,361,000 after acquiring an additional 43,769 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Malibu Boats by 370.5% during the 4th quarter. Bank of New York Mellon Corp now owns 440,829 shares of the company’s stock worth $16,571,000 after acquiring an additional 347,144 shares during the period. 91.35% of the stock is owned by institutional investors.

Malibu Boats Stock Performance

MBUU opened at $28.51 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52. The company has a market cap of $559.79 million, a PE ratio of -6.55 and a beta of 1.42. The stock has a 50-day moving average of $33.71 and a 200-day moving average of $37.88. Malibu Boats, Inc. has a 52-week low of $25.93 and a 52-week high of $47.82.

Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, January 30th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Malibu Boats had a positive return on equity of 1.04% and a negative net margin of 12.09%. As a group, equities research analysts forecast that Malibu Boats, Inc. will post 1.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. KeyCorp lowered shares of Malibu Boats from an “overweight” rating to a “sector weight” rating in a research report on Thursday, March 20th. B. Riley upgraded shares of Malibu Boats to a “hold” rating in a report on Wednesday, February 12th. Benchmark reaffirmed a “buy” rating and issued a $44.00 price target on shares of Malibu Boats in a research note on Tuesday, February 4th. StockNews.com upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research note on Tuesday, March 11th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $32.00 price target (down from $50.00) on shares of Malibu Boats in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $39.83.

Malibu Boats Profile

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.