Malibu Boats, Inc. $MBUU Position Raised by Sei Investments Co.

Sei Investments Co. lifted its position in Malibu Boats, Inc. (NASDAQ:MBUU) by 53.5% during the first quarter, Holdings Channel reports. The institutional investor owned 67,059 shares of the company’s stock after buying an additional 23,377 shares during the quarter. Sei Investments Co.’s holdings in Malibu Boats were worth $1,738,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of MBUU. Intesa Sanpaolo Wealth Management bought a new position in shares of Malibu Boats during the 4th quarter valued at about $31,000. BNP Paribas Financial Markets raised its holdings in shares of Malibu Boats by 43.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock worth $67,000 after purchasing an additional 643 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Malibu Boats by 346.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company’s stock worth $73,000 after purchasing an additional 1,801 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Malibu Boats by 108.5% during the fourth quarter. Russell Investments Group Ltd. now owns 3,301 shares of the company’s stock valued at $93,000 after purchasing an additional 1,718 shares during the last quarter. Finally, Strs Ohio bought a new stake in Malibu Boats during the first quarter worth approximately $123,000. 91.35% of the stock is owned by institutional investors and hedge funds.

Malibu Boats Stock Performance

MBUU opened at $28.95 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.44 and a current ratio of 1.31. The company has a market cap of $568.58 million, a PE ratio of -482.50 and a beta of 1.13. The stock has a 50-day moving average of $27.44 and a 200-day moving average of $27.77. Malibu Boats, Inc. has a 52-week low of $23.84 and a 52-week high of $39.65.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Zacks Research cut Malibu Boats from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Malibu Boats in a report on Friday. Wall Street Zen raised Malibu Boats from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. DA Davidson reaffirmed a “neutral” rating and set a $30.00 target price on shares of Malibu Boats in a report on Monday, June 15th. Finally, Truist Financial increased their price target on Malibu Boats from $31.00 to $34.00 and gave the company a “hold” rating in a research report on Monday, July 6th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $31.60.

About Malibu Boats

Malibu Boats, Inc is a leading designer, manufacturer and distributor of performance sport boats for the recreational boating market. The company’s product portfolio includes the premium Malibu® brand and the value-oriented Axis® Wake Research line, as well as Cobalt® boats following its 2020 acquisition. Malibu’s vessels are engineered to serve water-sports enthusiasts, with models optimized for wakeboarding, wakesurfing and waterskiing.

Founded in 1982 by water-sports enthusiast Jack Springer, Malibu Boats is headquartered in Loudon, Tennessee.