Malibu Boats, Inc. (NASDAQ:MBUU) Shares Acquired by FourThought Financial LLC

FourThought Financial LLC increased its holdings in shares of Malibu Boats, Inc. (NASDAQ:MBUU – Get Rating) by 19.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,342 shares of the company’s stock after purchasing an additional 1,176 shares during the period. FourThought Financial LLC’s holdings in Malibu Boats were worth $352,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its position in Malibu Boats by 44.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 560 shares of the company’s stock worth $27,000 after purchasing an additional 173 shares during the period. Ensign Peak Advisors Inc purchased a new stake in Malibu Boats during the 3rd quarter worth $29,000. Global Trust Asset Management LLC boosted its position in Malibu Boats by 89.6% during the 3rd quarter. Global Trust Asset Management LLC now owns 948 shares of the company’s stock worth $45,000 after purchasing an additional 448 shares during the period. Captrust Financial Advisors boosted its position in Malibu Boats by 128.1% during the 1st quarter. Captrust Financial Advisors now owns 1,843 shares of the company’s stock worth $107,000 after purchasing an additional 1,035 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in Malibu Boats during the 3rd quarter worth $90,000. 93.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MBUU has been the subject of a number of research reports. BMO Capital Markets upped their price target on shares of Malibu Boats from $76.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. Truist Financial upped their price objective on shares of Malibu Boats from $65.00 to $72.00 in a research report on Wednesday, February 8th. StockNews.com assumed coverage on shares of Malibu Boats in a research report on Thursday. They issued a “buy” rating for the company. DA Davidson upped their price objective on shares of Malibu Boats from $48.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 9th. Finally, Raymond James decreased their price objective on shares of Malibu Boats from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, February 8th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.14.

Insider Transactions at Malibu Boats

In related news, COO Ritchie L. Anderson sold 7,473 shares of the stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $61.91, for a total transaction of $462,653.43. Following the sale, the chief operating officer now owns 38,847 shares in the company, valued at $2,405,017.77. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.64% of the company’s stock.

Malibu Boats Stock Performance

Shares of MBUU stock opened at $55.71 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 2.28. Malibu Boats, Inc. has a one year low of $46.30 and a one year high of $70.87. The company’s 50-day simple moving average is $59.65 and its 200-day simple moving average is $55.91. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 6.77 and a beta of 1.61.

Malibu Boats (NASDAQ:MBUU – Get Rating) last issued its quarterly earnings results on Tuesday, February 7th. The company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.60 by $0.18. Malibu Boats had a net margin of 12.76% and a return on equity of 34.19%. The business had revenue of $338.73 million for the quarter, compared to analysts’ expectations of $313.00 million. Equities analysts anticipate that Malibu Boats, Inc. will post 7.94 earnings per share for the current fiscal year.

Malibu Boats Profile

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Malibu Boats, Inc is a holding company, which engages in the design, manufacture, and marketing of recreational powerboats. It offers performance sport boats, sterndrive, and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes and Cobalt brands. The firm operates through the following segments: Malibu, Saltwater Fishing and Cobalt.