Malibu Boats, Inc. (NASDAQ:MBUU) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lowered its stake in Malibu Boats, Inc. (NASDAQ:MBUU – Get Rating) by 1.2% during the third quarter, Holdings Channel.com reports. The fund owned 16,582 shares of the company’s stock after selling 197 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Malibu Boats were worth $796,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MBUU. Millennium Management LLC acquired a new stake in Malibu Boats in the 2nd quarter valued at $9,260,000. Assenagon Asset Management S.A. grew its stake in Malibu Boats by 3,881.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 159,459 shares of the company’s stock valued at $8,405,000 after acquiring an additional 155,454 shares during the period. Cubist Systematic Strategies LLC grew its stake in Malibu Boats by 741.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 125,843 shares of the company’s stock valued at $6,633,000 after acquiring an additional 110,884 shares during the period. Lazard Asset Management LLC grew its stake in Malibu Boats by 16.0% in the 2nd quarter. Lazard Asset Management LLC now owns 626,985 shares of the company’s stock valued at $33,048,000 after acquiring an additional 86,453 shares during the period. Finally, ExodusPoint Capital Management LP acquired a new stake in Malibu Boats in the 2nd quarter valued at $2,392,000. Institutional investors and hedge funds own 93.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MBUU shares. BMO Capital Markets dropped their price target on shares of Malibu Boats from $94.00 to $76.00 and set an “outperform” rating on the stock in a research note on Monday, November 7th. StockNews.com upgraded Malibu Boats from a “hold” rating to a “buy” rating in a report on Monday, October 31st. Raymond James decreased their price objective on Malibu Boats from $88.00 to $75.00 and set an “outperform” rating on the stock in a report on Monday, November 7th. DA Davidson decreased their price objective on Malibu Boats to $48.00 in a report on Tuesday, November 15th. Finally, B. Riley decreased their price objective on Malibu Boats from $89.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday, October 25th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.57.

Malibu Boats Stock Up 1.7 %

NASDAQ MBUU opened at $57.55 on Monday. Malibu Boats, Inc. has a 52 week low of $46.30 and a 52 week high of $72.47. The company has a quick ratio of 0.67, a current ratio of 1.91 and a debt-to-equity ratio of 0.13. The business’s fifty day simple moving average is $56.36 and its 200-day simple moving average is $56.44. The firm has a market cap of $1.17 billion, a PE ratio of 7.27 and a beta of 1.61.

Malibu Boats (NASDAQ:MBUU – Get Rating) last posted its quarterly earnings results on Friday, November 4th. The company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.64 by $0.10. Malibu Boats had a return on equity of 35.49% and a net margin of 13.10%. The business had revenue of $302.21 million for the quarter, compared to analyst estimates of $290.16 million. As a group, equities analysts anticipate that Malibu Boats, Inc. will post 7.93 earnings per share for the current year.

Malibu Boats Company Profile

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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.