Malibu Boats (NASDAQ:MBUU) Upgraded at StockNews.com

Malibu Boats (NASDAQ:MBUUGet Free Report) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other equities research analysts also recently issued reports on MBUU. B. Riley cut their price target on Malibu Boats from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. Raymond James cut Malibu Boats from an “outperform” rating to a “market perform” rating in a report on Monday, April 15th. Truist Financial decreased their price target on Malibu Boats from $52.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. KeyCorp cut their price objective on Malibu Boats from $50.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Finally, Robert W. Baird dropped their price objective on Malibu Boats from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $43.00.

Check Out Our Latest Stock Report on Malibu Boats

Malibu Boats Price Performance

MBUU opened at $34.53 on Wednesday. Malibu Boats has a 1 year low of $31.47 and a 1 year high of $62.36. The stock has a 50-day moving average price of $37.70 and a 200-day moving average price of $44.15. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.67 and a quick ratio of 0.66. The firm has a market cap of $705.79 million, a PE ratio of -12.93 and a beta of 1.41.

Insider Buying and Selling at Malibu Boats

In related news, Director Mark W. Lanigan bought 20,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average cost of $33.43 per share, with a total value of $668,600.00. Following the purchase, the director now directly owns 73,368 shares of the company’s stock, valued at approximately $2,452,692.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Michael K. Hooks purchased 12,500 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were acquired at an average price of $42.82 per share, for a total transaction of $535,250.00. Following the acquisition, the insider now directly owns 12,500 shares in the company, valued at approximately $535,250. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mark W. Lanigan purchased 20,000 shares of the company’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $33.43 per share, with a total value of $668,600.00. Following the transaction, the director now directly owns 73,368 shares of the company’s stock, valued at approximately $2,452,692.24. The disclosure for this purchase can be found here. Company insiders own 1.62% of the company’s stock.

Institutional Investors Weigh In On Malibu Boats

A number of hedge funds and other institutional investors have recently made changes to their positions in MBUU. Janus Henderson Group PLC lifted its stake in shares of Malibu Boats by 16.8% during the first quarter. Janus Henderson Group PLC now owns 15,499 shares of the company’s stock worth $671,000 after purchasing an additional 2,233 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Malibu Boats by 9.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,124 shares of the company’s stock valued at $439,000 after purchasing an additional 836 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Malibu Boats during the first quarter valued at approximately $662,000. EntryPoint Capital LLC bought a new position in Malibu Boats in the 1st quarter worth approximately $84,000. Finally, Bessemer Group Inc. grew its holdings in Malibu Boats by 7.2% in the 1st quarter. Bessemer Group Inc. now owns 307,486 shares of the company’s stock worth $13,307,000 after buying an additional 20,700 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

About Malibu Boats

(Get Free Report)

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.

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Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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