Malibu Boats (NASDAQ:MBUU) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Malibu Boats (NASDAQ:MBUU) from a sell rating to a hold rating in a research note published on Wednesday morning.

Several other research firms also recently weighed in on MBUU. KeyCorp lowered their price objective on shares of Malibu Boats from $50.00 to $38.00 and set an overweight rating on the stock in a report on Friday, May 3rd. B. Riley lowered their target price on shares of Malibu Boats from $45.00 to $39.00 and set a neutral rating for the company in a report on Tuesday, April 16th. Raymond James downgraded shares of Malibu Boats from an outperform rating to a market perform rating in a report on Monday, April 15th. Robert W. Baird lowered their target price on shares of Malibu Boats from $50.00 to $40.00 and set an outperform rating for the company in a report on Friday, May 3rd. Finally, Truist Financial lowered their target price on shares of Malibu Boats from $52.00 to $42.00 and set a buy rating for the company in a report on Friday, May 3rd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $43.14.

Malibu Boats Stock Performance

MBUU opened at $35.92 on Wednesday. The company has a current ratio of 1.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.03. The company’s fifty day moving average price is $37.61 and its two-hundred day moving average price is $44.10. Malibu Boats has a 1-year low of $31.47 and a 1-year high of $62.36. The company has a market cap of $734.20 million, a price-to-earnings ratio of -13.45 and a beta of 1.41.

Insider Buying and Selling

In related news, Director Mark W. Lanigan acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average price of $33.43 per share, for a total transaction of $668,600.00. Following the completion of the acquisition, the director now owns 73,368 shares of the company’s stock, valued at approximately $2,452,692.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.62% of the stock is currently owned by corporate insiders.

Institutional Trading of Malibu Boats

Large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. increased its holdings in Malibu Boats by 828.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 41,686 shares of the company’s stock worth $2,285,000 after buying an additional 37,197 shares during the last quarter. Invesco Ltd. increased its holdings in Malibu Boats by 272.7% during the third quarter. Invesco Ltd. now owns 127,109 shares of the company’s stock worth $6,231,000 after buying an additional 93,004 shares during the last quarter. UBS Group AG boosted its position in Malibu Boats by 33.7% during the third quarter. UBS Group AG now owns 147,563 shares of the company’s stock worth $7,234,000 after purchasing an additional 37,217 shares during the period. Vanguard Group Inc. boosted its position in Malibu Boats by 2.7% during the third quarter. Vanguard Group Inc. now owns 1,365,273 shares of the company’s stock worth $66,926,000 after purchasing an additional 35,474 shares during the period. Finally, Swiss National Bank boosted its position in Malibu Boats by 1.8% during the third quarter. Swiss National Bank now owns 45,400 shares of the company’s stock worth $2,226,000 after purchasing an additional 800 shares during the period. Hedge funds and other institutional investors own 91.35% of the company’s stock.

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.