Raymond James Financial Inc. purchased a new stake in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 218,714 shares of the company's stock, valued at approximately $8,221,000. Raymond James Financial Inc. owned 1.11% of Malibu Boats at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC raised its position in Malibu Boats by 4.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 7,977 shares of the company's stock valued at $300,000 after buying an additional 311 shares during the last quarter. Central Pacific Bank Trust Division boosted 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. Studio Investment Management LLC grew its position in Malibu Boats by 53.7% in the third quarter. Studio Investment Management LLC now owns 1,087 shares of the company's stock valued at $42,000 after purchasing an additional 380 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in Malibu Boats during the 4th quarter worth about $38,000. Finally, Benjamin Edwards Inc. lifted its position in Malibu Boats by 28.6% during the 3rd quarter. Benjamin Edwards Inc. now owns 6,572 shares of the company's stock worth $255,000 after buying an additional 1,460 shares in the last quarter. Institutional investors and hedge funds own 91.35% of the company's stock.
Analysts Set New Price Targets
Several research analysts recently commented on the company. B. Riley raised Malibu Boats to a "hold" rating in a research report on Wednesday, February 12th. Truist Financial increased their price target on shares of Malibu Boats from $34.00 to $38.00 and gave the company a "hold" rating in a research note on Friday, January 31st. Benchmark reaffirmed a "buy" rating and issued a $44.00 target price on shares of Malibu Boats in a report on Tuesday, February 4th. KeyCorp downgraded shares of Malibu Boats from an "overweight" rating to a "sector weight" rating in a research note on Thursday, March 20th. Finally, StockNews.com upgraded Malibu Boats from a "sell" rating to a "hold" rating in a research note on Tuesday, March 11th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $42.83.
Check Out Our Latest Report on MBUU
Malibu Boats Stock Performance
Shares of MBUU stock traded up $0.47 on Wednesday, hitting $29.96. The company's stock had a trading volume of 85,955 shares, compared to its average volume of 221,186. Malibu Boats, Inc. has a fifty-two week low of $29.02 and a fifty-two week high of $47.82. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52. The stock's 50 day moving average is $34.73 and its 200-day moving average is $38.29. The company has a market capitalization of $588.26 million, a PE ratio of -6.89 and a beta of 1.42.
Malibu Boats (NASDAQ:MBUU - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). Malibu Boats had a negative net margin of 12.09% and a positive return on equity of 1.04%. Equities research analysts expect that Malibu Boats, Inc. will post 1.69 earnings per share for the current fiscal year.
About Malibu Boats
(
Free Report)
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.
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