Malibu Boats, Inc. (NASDAQ:MBUU) Director Mark W. Lanigan Buys 20,000 Shares

Malibu Boats, Inc. (NASDAQ:MBUU) Director Mark W. Lanigan acquired 20,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were purchased at an average cost of $33.43 per share, for a total transaction of $668,600.00. Following the completion of the purchase, the director now directly owns 73,368 shares of the company’s stock, valued at approximately $2,452,692.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Malibu Boats Price Performance

Shares of MBUU stock opened at $34.45 on Wednesday. Malibu Boats, Inc. has a 1 year low of $31.47 and a 1 year high of $62.36. The firm’s 50 day moving average is $39.06 and its 200-day moving average is $44.89. The firm has a market capitalization of $704.16 million, a price-to-earnings ratio of -12.90 and a beta of 1.41. The company has a current ratio of 1.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.03.

Hedge Funds Weigh In On Malibu Boats

Several large investors have recently bought and sold shares of the business. Inspire Investing LLC acquired a new position in Malibu Boats in the first quarter valued at approximately $304,000. Inspire Advisors LLC acquired a new position in Malibu Boats in the first quarter valued at approximately $1,008,000. Empowered Funds LLC lifted its holdings in Malibu Boats by 21.3% in the first quarter. Empowered Funds LLC now owns 48,322 shares of the company’s stock valued at $2,091,000 after buying an additional 8,480 shares during the period. Quantbot Technologies LP lifted its holdings in Malibu Boats by 121.9% in the first quarter. Quantbot Technologies LP now owns 6,568 shares of the company’s stock valued at $284,000 after buying an additional 3,608 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new position in Malibu Boats in the first quarter valued at approximately $142,000. 91.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the stock. B. Riley decreased their price objective on shares of Malibu Boats from $45.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. KeyCorp decreased their price objective on shares of Malibu Boats from $50.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. StockNews.com cut shares of Malibu Boats from a “hold” rating to a “sell” rating in a research note on Monday. Robert W. Baird reduced their target price on shares of Malibu Boats from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Finally, Truist Financial reduced their target price on shares of Malibu Boats from $52.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $43.00.

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.