Fintel reports that on May 22, 2024, Benchmark initiated coverage of Malibu Boats (NasdaqGM:MBUU) with a Buy recommendation.
Analyst Price Forecast Suggests 11.69% Upside
As of May 22, 2024, the average one-year price target for Malibu Boats is 40.12. The forecasts range from a low of 36.36 to a high of $44.10. The average price target represents an increase of 11.69% from its latest reported closing price of 35.92.
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The projected annual revenue for Malibu Boats is 1,342MM, an increase of 28.71%. The projected annual non-GAAP EPS is 8.13.
What is the Fund Sentiment?
There are 424 funds or institutions reporting positions in Malibu Boats. This is an decrease of 16 owner(s) or 3.64% in the last quarter. Average portfolio weight of all funds dedicated to MBUU is -9.29%, an increase of 6,858.92%. Total shares owned by institutions increased in the last three months by 1.28% to 25,747K shares. 
The put/call ratio of MBUU is 2.35, indicating a bearish outlook.
What are Other Shareholders Doing?
SMCWX – SMALLCAP WORLD FUND INC holds 1,649K shares representing 8.07% ownership of the company. No change in the last quarter.
Capital World Investors holds 1,649K shares representing 8.07% ownership of the company. No change in the last quarter.
Macquarie Group holds 1,456K shares representing 7.12% ownership of the company. In its prior filing, the firm reported owning 1,494K shares , representing a decrease of 2.63%. The firm decreased its portfolio allocation in MBUU by 35.35% over the last quarter.
Cooke & Bieler holds 1,348K shares representing 6.60% ownership of the company. In its prior filing, the firm reported owning 921K shares , representing an increase of 31.72%. The firm decreased its portfolio allocation in MBUU by 20.55% over the last quarter.
American Century Companies holds 1,126K shares representing 5.51% ownership of the company. In its prior filing, the firm reported owning 1,515K shares , representing a decrease of 34.54%. The firm decreased its portfolio allocation in MBUU by 46.36% over the last quarter.
Malibu Boats Background Information
(This description is provided by the company.)
Based in Loudon, Tennessee, Malibu Boats, Inc. (MBUU) is a leading designer, manufacturer and marketer of a diverse range of recreational powerboats, including performance sport, sterndrive and outboard boats. Malibu Boats, Inc. is the market leader in the performance sport boat category through its Malibu and Axis boat brands, the leader in the 20′ – 40′ segment of the sterndrive boat category through its Cobalt brand, and in a leading position in the saltwater fishing boat market with its Pursuit and Cobia offshore boats and Pathfinder, Maverick, and Hewes flats and bay boat brands. A pre-eminent innovator in the powerboat industry, Malibu Boats, Inc. designs products that appeal to an expanding range of recreational boaters, fisherman and water sports enthusiasts whose passion for boating is a key component of their active lifestyles.
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This story originally appeared on Fintel.
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