California Public Employees Retirement System lifted its position in shares of Malibu Boats Inc (NASDAQ:MBUU) by 6.7% in the 1st quarter, Holdings Channel reports. The firm owned 53,205 shares of the company’s stock after purchasing an additional 3,329 shares during the period. California Public Employees Retirement System’s holdings in Malibu Boats were worth $2,106,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Morgan Stanley increased its stake in Malibu Boats by 14.6% during the third quarter. Morgan Stanley now owns 103,990 shares of the company’s stock worth $5,689,000 after acquiring an additional 13,259 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Malibu Boats by 53.1% during the fourth quarter. Rhumbline Advisers now owns 26,949 shares of the company’s stock valued at $938,000 after buying an additional 9,347 shares during the period. ClariVest Asset Management LLC boosted its position in shares of Malibu Boats by 85.2% during the fourth quarter. ClariVest Asset Management LLC now owns 7,277 shares of the company’s stock valued at $253,000 after buying an additional 3,348 shares during the period. Affinity Investment Advisors LLC boosted its position in shares of Malibu Boats by 20.4% during the fourth quarter. Affinity Investment Advisors LLC now owns 7,508 shares of the company’s stock valued at $261,000 after buying an additional 1,274 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Malibu Boats by 1.1% during the fourth quarter. Victory Capital Management Inc. now owns 49,022 shares of the company’s stock valued at $1,706,000 after buying an additional 535 shares during the period. 99.54% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:MBUU opened at $36.41 on Wednesday. Malibu Boats Inc has a 1 year low of $32.09 and a 1 year high of $59.57. The company has a market cap of $767.12 million, a price-to-earnings ratio of 14.45, a price-to-earnings-growth ratio of 1.05 and a beta of 1.86. The company has a quick ratio of 0.72, a current ratio of 1.61 and a debt-to-equity ratio of 0.68.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, May 9th. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.12. The firm had revenue of $199.92 million during the quarter, compared to analyst estimates of $188.31 million. Malibu Boats had a return on equity of 44.85% and a net margin of 9.41%. Malibu Boats’s quarterly revenue was up 42.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 earnings per share. Analysts anticipate that Malibu Boats Inc will post 3.55 EPS for the current fiscal year.

MBUU has been the subject of several recent analyst reports. Zacks Investment Research upgraded Malibu Boats from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Thursday, May 16th. BidaskClub upgraded Malibu Boats from a “hold” rating to a “buy” rating in a research report on Friday, February 22nd. Finally, ValuEngine lowered Malibu Boats from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Two analysts have rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $55.83.

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About Malibu Boats

Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.

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

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