Malibu Boats, Inc. (NASDAQ:MBUU) Shares Sold by LSV Asset Management

LSV Asset Management lessened its stake in Malibu Boats, Inc. (NASDAQ:MBUU) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 88,000 shares of the company’s stock after selling 3,439 shares during the quarter. LSV Asset Management owned approximately 0.43% of Malibu Boats worth $4,824,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of MBUU. SG Americas Securities LLC acquired a new position in shares of Malibu Boats in the 3rd quarter worth approximately $325,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of 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 purchasing an additional 386 shares during the period. Strs Ohio acquired a new position in shares of Malibu Boats in the 3rd quarter valued at about $720,000. Allspring Global Investments Holdings LLC grew its position in shares of Malibu Boats by 9.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 137,100 shares of the company’s stock valued at $6,721,000 after buying an additional 11,617 shares during the last quarter. Finally, Kendall Capital Management bought a new position in Malibu Boats in the third quarter worth about $322,000. Institutional investors own 91.35% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. B. Riley reduced their price objective on Malibu Boats from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Truist Financial cut their price objective on shares of Malibu Boats from $52.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Raymond James cut Malibu Boats from an “outperform” rating to a “market perform” rating in a report on Monday, April 15th. Robert W. Baird decreased their price objective on Malibu Boats from $50.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Finally, KeyCorp cut their target price on Malibu Boats from $50.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $43.00.

Malibu Boats Stock Performance

Shares of NASDAQ MBUU opened at $35.61 on Thursday. Malibu Boats, Inc. 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. The stock has a fifty day moving average price of $38.91 and a two-hundred day moving average price of $44.83. The firm has a market cap of $727.87 million, a P/E ratio of -13.34 and a beta of 1.41.

Insider Activity at Malibu Boats

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

Malibu Boats 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.