International Assets Investment Management LLC Makes New Investment in Malibu Boats, Inc. (NASDAQ:MBUU)

International Assets Investment Management LLC bought a new position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 877 shares of the company’s stock, valued at approximately $48,000.

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

Analysts Set New Price Targets

Several research firms have weighed in on MBUU. Robert W. Baird reiterated an “outperform” rating and issued a $54.00 target price on shares of Malibu Boats in a report on Friday, January 19th. Raymond James cut Malibu Boats from an “outperform” rating to a “market perform” rating in a research note on Monday, April 15th. B. Riley decreased their price target on Malibu Boats from $45.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Truist Financial cut their price objective on Malibu Boats from $62.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Finally, KeyCorp decreased their target price 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.00.

Insiders Place Their Bets

In other Malibu Boats news, insider Michael K. Hooks purchased 12,500 shares of the company’s stock in a transaction 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 directly owns 12,500 shares in the company, valued at approximately $535,250. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.62% of the stock is owned by company insiders.

Malibu Boats Price Performance

MBUU opened at $33.06 on Thursday. The stock’s 50-day moving average price is $39.84 and its 200 day moving average price is $45.41. Malibu Boats, Inc. has a 12-month low of $32.90 and a 12-month high of $62.36. The firm has a market cap of $675.42 million, a price-to-earnings ratio of 10.60 and a beta of 1.37. 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 posted its quarterly earnings data on Tuesday, January 30th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.47 by $0.10. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The business had revenue of $211.07 million during the quarter, compared to analyst estimates of $219.64 million. During the same quarter last year, the firm posted $1.78 earnings per share. The business’s revenue for the quarter was down 37.7% compared to the same quarter last year. As a group, sell-side analysts expect that Malibu Boats, Inc. will post 2.55 earnings per share for the current 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.