Koss Olinger Consulting LLC Sells 2,847 Shares of Malibu Boats, Inc. (NASDAQ:MBUU)

Koss Olinger Consulting LLC decreased its holdings in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 5.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,062 shares of the company’s stock after selling 2,847 shares during the quarter. Koss Olinger Consulting LLC owned about 0.23% of Malibu Boats worth $1,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its holdings in shares of Malibu Boats by 37.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 114,525 shares of the company’s stock worth $4,445,000 after purchasing an additional 31,026 shares during the period. nVerses Capital LLC bought a new position in shares of Malibu Boats in the third quarter worth $74,000. Creative Planning bought a new position in shares of Malibu Boats in the third quarter worth $223,000. SG Americas Securities LLC increased its holdings in shares of Malibu Boats by 31.6% in the third quarter. SG Americas Securities LLC now owns 5,212 shares of the company’s stock worth $202,000 after purchasing an additional 1,252 shares during the period. Finally, Truist Financial Corp increased its holdings in shares of Malibu Boats by 35.6% in the second quarter. Truist Financial Corp now owns 8,448 shares of the company’s stock worth $296,000 after purchasing an additional 2,219 shares during the period. Institutional investors own 91.35% of the company’s stock.

Malibu Boats Stock Down 0.5 %

NASDAQ MBUU opened at $43.21 on Monday. The company has a 50-day simple moving average of $37.72 and a two-hundred day simple moving average of $36.56. Malibu Boats, Inc. has a 12-month low of $30.20 and a 12-month high of $56.03. The firm has a market cap of $883.21 million, a price-to-earnings ratio of -16.18 and a beta of 1.38.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, August 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.07). Malibu Boats had a negative net margin of 6.74% and a positive return on equity of 6.21%. The business had revenue of $158.70 million for the quarter, compared to analysts’ expectations of $157.54 million. During the same quarter in the previous year, the company earned $2.96 earnings per share. The business’s quarterly revenue was down 57.4% on a year-over-year basis. Equities analysts expect that Malibu Boats, Inc. will post 1.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MBUU. StockNews.com cut shares of Malibu Boats from a “hold” rating to a “sell” rating in a report on Friday, August 30th. Truist Financial reaffirmed a “hold” rating and issued a $32.00 price target on shares of Malibu Boats in a report on Monday, July 8th. DA Davidson reiterated a “buy” rating and issued a $45.00 target price on shares of Malibu Boats in a research report on Tuesday, September 10th. Finally, B. Riley cut their target price on shares of Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Malibu Boats currently has an average rating of “Hold” and a consensus target price of $40.00.

Malibu Boats Company 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.