Malibu Boats (NASDAQ:MBUU) Trading Up 4.9%

Malibu Boats, Inc. (NASDAQ:MBUU)’s stock price traded up 4.9% during mid-day trading on Friday . The company traded as high as $36.51 and last traded at $36.44. 63,778 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 261,652 shares. The stock had previously closed at $34.75.

Analysts Set New Price Targets

MBUU has been the subject of several recent analyst reports. StockNews.com upgraded Malibu Boats from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. Robert W. Baird dropped their target price on shares of Malibu Boats from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Truist Financial reiterated a “hold” rating and issued a $32.00 price target on shares of Malibu Boats in a report on Monday, July 8th. KeyCorp lowered 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. Finally, Benchmark began coverage on shares of Malibu Boats in a research report on Wednesday, May 22nd. They issued a “buy” rating and a $44.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $40.00.

Malibu Boats Stock Up 4.7 %

The stock’s fifty day moving average price is $35.15 and its 200-day moving average price is $37.63. The company has a market capitalization of $743.40 million, a price-to-earnings ratio of -13.01 and a beta of 1.40. The company has a quick ratio of 0.66, a current ratio of 1.67 and a debt-to-equity ratio of 0.03.

Institutional Investors Weigh In On Malibu Boats

Several institutional investors and hedge funds have recently added to or reduced their stakes in MBUU. Wellington Management Group LLP grew its holdings in shares of Malibu Boats by 315.0% in the 4th quarter. Wellington Management Group LLP now owns 64,741 shares of the company’s stock valued at $3,549,000 after acquiring an additional 49,141 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Malibu Boats by 7.2% during the 1st quarter. Bessemer Group Inc. now owns 307,486 shares of the company’s stock worth $13,307,000 after purchasing an additional 20,700 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Malibu Boats by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 998,994 shares of the company’s stock worth $54,765,000 after purchasing an additional 38,450 shares during the last quarter. PAX Financial Group LLC bought a new stake in shares of Malibu Boats during the 1st quarter worth approximately $579,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Malibu Boats in the 2nd quarter valued at approximately $3,667,000. 91.35% of the stock is owned by institutional investors.

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.