Raymond James & Associates Boosts Stake in Malibu Boats, Inc. (NASDAQ:MBUU)

Raymond James & Associates increased its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 17.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,077 shares of the company’s stock after purchasing an additional 1,795 shares during the period. Raymond James & Associates owned 0.06% of Malibu Boats worth $662,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc purchased a new position in shares of Malibu Boats in the third quarter valued at $25,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Malibu Boats by 10.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company’s stock valued at $194,000 after acquiring an additional 386 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Malibu Boats during the third quarter valued at $203,000. Howe & Rusling Inc. lifted its position in shares of Malibu Boats by 14.7% in the 3rd quarter. Howe & Rusling Inc. now owns 4,427 shares of the company’s stock worth $217,000 after purchasing an additional 569 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Malibu Boats by 24.5% in the 3rd quarter. Principal Financial Group Inc. now owns 4,604 shares of the company’s stock worth $226,000 after acquiring an additional 906 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Insider Buying and Selling at Malibu Boats

In related news, insider Michael K. Hooks purchased 12,500 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was acquired at an average price of $42.82 per share, for a total transaction of $535,250.00. Following the completion of the purchase, the insider now owns 12,500 shares in the company, valued at $535,250. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.62% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MBUU shares. Raymond James lowered Malibu Boats from an “outperform” rating to a “market perform” rating in a report on Monday, April 15th. Truist Financial dropped their price target on shares of Malibu Boats from $62.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. B. Riley reduced their price target on shares of Malibu Boats from $45.00 to $39.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. KeyCorp dropped their price objective on shares of Malibu Boats from $58.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 31st. Finally, StockNews.com upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Malibu Boats presently has a consensus rating of “Hold” and a consensus target price of $49.00.

Malibu Boats Price Performance

Shares of MBUU stock opened at $34.74 on Thursday. The firm has a fifty day simple moving average of $41.04 and a 200-day simple moving average of $45.94. The company has a market capitalization of $709.77 million, a PE ratio of 11.13 and a beta of 1.37. Malibu Boats, Inc. has a twelve month low of $33.77 and a twelve month high of $62.36. The company has a current ratio of 1.82, a quick ratio of 0.69 and a debt-to-equity ratio of 0.06.

Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Tuesday, January 30th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.10. Malibu Boats had a return on equity of 24.23% and a net margin of 5.32%. The company had revenue of $211.07 million during the quarter, compared to the consensus estimate of $219.64 million. During the same period last year, the firm earned $1.78 earnings per share. The company’s revenue was down 37.7% on a year-over-year basis. Equities research analysts anticipate that Malibu Boats, Inc. will post 2.55 earnings per share for the current fiscal year.

About Malibu Boats

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.