Insider Buying: Malibu Boats, Inc. (NASDAQ:MBUU) Director Purchases 20,000 Shares of Stock

Malibu Boats, Inc. (NASDAQ:MBUU) Director Mark W. Lanigan purchased 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average cost of $33.43 per share, with a total value of $668,600.00. Following the completion of the transaction, the director now owns 73,368 shares in the company, valued at approximately $2,452,692.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Malibu Boats Stock Performance

Shares of MBUU opened at $35.61 on Thursday. The firm has a market cap of $727.87 million, a price-to-earnings ratio of -13.34 and a beta of 1.41. The company has a quick ratio of 0.66, a current ratio of 1.67 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $38.91 and its two-hundred day moving average is $44.83. Malibu Boats, Inc. has a 52-week low of $31.47 and a 52-week high of $62.36.

Hedge Funds Weigh In On Malibu Boats

Several institutional investors have recently made changes to their positions in the stock. Hohimer Wealth Management LLC lifted its holdings in shares of Malibu Boats by 3.0% in the 4th quarter. Hohimer Wealth Management LLC now owns 10,438 shares of the company’s stock worth $572,000 after purchasing an additional 301 shares during the last quarter. Benjamin Edwards Inc. lifted its position in Malibu Boats by 13.8% in the 4th quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock valued at $144,000 after purchasing an additional 318 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Malibu Boats by 10.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company’s stock valued at $194,000 after purchasing an additional 386 shares during the period. Howe & Rusling Inc. boosted its stake in 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 purchasing an additional 569 shares during the period. Finally, Swiss National Bank grew its position in Malibu Boats by 1.8% in the 3rd 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 last quarter. 91.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Truist Financial decreased their target price on Malibu Boats from $52.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. KeyCorp decreased their price target on Malibu Boats from $50.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. StockNews.com lowered shares of Malibu Boats from a “hold” rating to a “sell” rating in a research note on Monday. Robert W. Baird decreased their target price on shares of Malibu Boats from $50.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Finally, Raymond James lowered shares of Malibu Boats from an “outperform” rating to a “market perform” rating in a report on Monday, April 15th. 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 company’s stock. According to MarketBeat, Malibu Boats has an average rating of “Hold” and an average price target of $43.00.

Malibu Boats Company Profile

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.