Raymond James Financial Inc. Makes New $8.22 Million Investment in Malibu Boats, Inc. (NASDAQ:MBUU)

Raymond James Financial Inc. bought a new position in shares of Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 218,714 shares of the company's stock, valued at approximately $8,221,000. Raymond James Financial Inc. owned approximately 1.11% of Malibu Boats as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Stifel Financial Corp boosted its holdings in Malibu Boats by 23.3% during the third quarter. Stifel Financial Corp now owns 18,370 shares of the company's stock worth $713,000 after buying an additional 3,472 shares in the last quarter. Barclays PLC grew its holdings in shares of Malibu Boats by 92.6% in the 3rd quarter. Barclays PLC now owns 46,919 shares of the company's stock worth $1,820,000 after acquiring an additional 22,556 shares during the period. Geode Capital Management LLC increased its stake in Malibu Boats by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 576,070 shares of the company's stock valued at $22,361,000 after purchasing an additional 43,769 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in Malibu Boats by 11.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company's stock worth $136,000 after purchasing an additional 368 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in Malibu Boats by 15.8% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 394,288 shares of the company's stock worth $14,821,000 after purchasing an additional 53,907 shares in the last quarter. 91.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MBUU. KeyCorp downgraded Malibu Boats from an "overweight" rating to a "sector weight" rating in a research note on Thursday, March 20th. Benchmark restated a "buy" rating and set a $44.00 target price on shares of Malibu Boats in a research report on Tuesday, February 4th. Truist Financial lowered their price target on shares of Malibu Boats from $38.00 to $28.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. StockNews.com upgraded Malibu Boats from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. Finally, DA Davidson upgraded Malibu Boats to a "hold" rating in a research report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $38.17.

Malibu Boats Price Performance

MBUU stock opened at $27.92 on Wednesday. The stock has a market capitalization of $548.21 million, a price-to-earnings ratio of -6.42 and a beta of 1.27. The company has a quick ratio of 0.45, a current ratio of 1.52 and a debt-to-equity ratio of 0.04. Malibu Boats, Inc. has a 52-week low of $24.43 and a 52-week high of $47.82. The stock's fifty day simple moving average is $30.65 and its 200-day simple moving average is $36.69.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). Malibu Boats had a positive return on equity of 1.04% and a negative net margin of 12.09%. Equities research analysts expect that Malibu Boats, Inc. will post 1.69 EPS for the current year.

Malibu Boats 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.