StockNews.com Downgrades Malibu Boats (NASDAQ:MBUU) to Sell

StockNews.com downgraded shares of Malibu Boats (NASDAQ:MBUU) from a hold rating to a sell rating in a report issued on Monday.

MBUU has been the subject of several other research reports. KeyCorp dropped their price objective on shares of Malibu Boats from $50.00 to $38.00 and set an overweight rating for the company in a research report on Friday, May 3rd. B. Riley cut their price objective on Malibu Boats from $45.00 to $39.00 and set a neutral rating on the stock in a research report on Tuesday, April 16th. 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. Raymond James downgraded Malibu Boats from an outperform rating to a market perform rating in a report on Monday, April 15th. Finally, Robert W. Baird decreased their price target on Malibu Boats from $50.00 to $40.00 and set an outperform rating for the company in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Malibu Boats currently has an average rating of Hold and an average price target of $43.00.

Malibu Boats Stock Up 0.3 %

Shares of NASDAQ:MBUU opened at $35.72 on Monday. The stock has a 50-day simple moving average of $38.75 and a 200-day simple moving average of $44.76. The stock has a market capitalization of $730.12 million, a P/E ratio of -13.38 and a beta of 1.41. Malibu Boats has a 1 year low of $31.47 and a 1 year high of $62.36. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.66 and a current ratio of 1.67.

Insiders Place Their Bets

In other Malibu Boats news, Director Mark W. Lanigan bought 20,000 shares of Malibu Boats stock in a transaction dated Monday, May 6th. The stock was bought at an average cost of $33.43 per share, for a total transaction of $668,600.00. Following the purchase, the director now owns 73,368 shares in the company, valued at approximately $2,452,692.24. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Michael K. Hooks purchased 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was acquired at an average cost of $42.82 per share, for a total transaction of $535,250.00. Following the completion of the purchase, the insider now owns 12,500 shares of the company’s stock, valued at $535,250. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark W. Lanigan acquired 20,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were purchased at an average price of $33.43 per share, for a total transaction of $668,600.00. Following the purchase, the director now directly owns 73,368 shares of the company’s stock, valued at $2,452,692.24. The disclosure for this purchase can be found here. 1.62% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MBUU. Hohimer Wealth Management LLC boosted its holdings in Malibu Boats by 3.0% in the fourth 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 period. Benjamin Edwards Inc. grew its position in shares of Malibu Boats by 13.8% during the 4th quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock valued at $144,000 after buying an additional 318 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Malibu Boats by 10.8% during the third 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. Howe & Rusling Inc. lifted its holdings in Malibu Boats by 14.7% in the third quarter. Howe & Rusling Inc. now owns 4,427 shares of the company’s stock worth $217,000 after acquiring an additional 569 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Malibu Boats by 1.8% in the third quarter. Swiss National Bank now owns 45,400 shares of the company’s stock valued at $2,226,000 after acquiring an additional 800 shares during the period. Institutional investors and hedge funds own 91.35% of the company’s stock.

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.