Malibu Boats (NASDAQ:MBUU) Lowered to “Sell” at StockNews.com

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

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

Malibu Boats Stock Up 4.9 %

Shares of MBUU stock opened at $34.24 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.67 and a quick ratio of 0.66. Malibu Boats has a one year low of $31.47 and a one year high of $62.36. The company’s 50-day moving average is $39.25 and its 200 day moving average is $45.00.

Insider Activity

In other Malibu Boats news, insider Michael K. Hooks acquired 12,500 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were bought at an average price of $42.82 per share, with a total value of $535,250.00. Following the completion of the acquisition, the insider now owns 12,500 shares in the company, valued at approximately $535,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.62% of the company’s stock.

Hedge Funds Weigh In On Malibu Boats

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hohimer Wealth Management LLC raised its stake in shares of 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 buying an additional 301 shares during the period. Benjamin Edwards Inc. boosted its holdings in Malibu Boats by 13.8% in the 4th quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock worth $144,000 after buying an additional 318 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Malibu Boats by 10.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company’s stock worth $194,000 after buying an additional 386 shares in the last quarter. Howe & Rusling Inc. raised its holdings in Malibu Boats by 14.7% during the third quarter. Howe & Rusling Inc. now owns 4,427 shares of the company’s stock valued at $217,000 after acquiring an additional 569 shares during the period. Finally, Swiss National Bank lifted its position in shares of 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 in the last quarter. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

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.