LSV Asset Management Sells 3,439 Shares of Malibu Boats, Inc. (NASDAQ:MBUU)

LSV Asset Management decreased its stake in Malibu Boats, Inc. (NASDAQ:MBUU) by 3.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,000 shares of the company’s stock after selling 3,439 shares during the period. LSV Asset Management’s holdings in Malibu Boats were worth $4,824,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Raymond James Financial Services Advisors Inc. increased its position in shares of Malibu Boats by 828.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 41,686 shares of the company’s stock worth $2,285,000 after purchasing an additional 37,197 shares during the last quarter. Invesco Ltd. lifted its stake in Malibu Boats by 272.7% in the third quarter. Invesco Ltd. now owns 127,109 shares of the company’s stock valued at $6,231,000 after acquiring an additional 93,004 shares during the last quarter. UBS Group AG grew its position in shares of Malibu Boats by 33.7% in the 3rd quarter. UBS Group AG now owns 147,563 shares of the company’s stock valued at $7,234,000 after acquiring an additional 37,217 shares during the period. Vanguard Group Inc. increased its stake in shares of Malibu Boats by 2.7% during the 3rd 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 last quarter. Finally, Swiss National Bank raised its holdings in shares of Malibu Boats by 1.8% in the 3rd quarter. Swiss National Bank now owns 45,400 shares of the company’s stock valued at $2,226,000 after purchasing an additional 800 shares during the period. Institutional investors and hedge funds own 91.35% of the company’s stock.

Insider Buying and Selling

In related news, Director Mark W. Lanigan bought 20,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was purchased at an average cost of $33.43 per share, for a total transaction of $668,600.00. Following 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 legal filing with the SEC, which is available through this hyperlink. In related news, Director Mark W. Lanigan purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average price of $33.43 per share, with a total value of $668,600.00. Following the completion of the purchase, the director now directly owns 73,368 shares in the company, valued at $2,452,692.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael K. Hooks acquired 12,500 shares of Malibu Boats stock in a transaction on Thursday, February 22nd. The shares were purchased 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 of the company’s stock, valued at $535,250. The disclosure for this purchase can be found here. 1.62% of the stock is currently owned by company insiders.

Malibu Boats Stock Performance

Shares of NASDAQ:MBUU opened at $35.61 on Thursday. Malibu Boats, Inc. has a 12-month low of $31.47 and a 12-month high of $62.36. The company’s 50 day moving average price is $38.91 and its two-hundred day moving average price is $44.83. The firm has a market cap of $727.87 million, a PE 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.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MBUU. Truist Financial dropped their price objective on Malibu Boats from $52.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Raymond James cut shares of Malibu Boats from an “outperform” rating to a “market perform” rating in a research report on Monday, April 15th. B. Riley dropped their price objective on shares of Malibu Boats from $45.00 to $39.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. StockNews.com lowered shares of Malibu Boats from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Robert W. Baird cut their price objective on shares of Malibu Boats from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Malibu Boats presently 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.