Mark W. Lanigan Buys 20,000 Shares of Malibu Boats, Inc. (NASDAQ:MBUU) Stock

Malibu Boats, Inc. (NASDAQ:MBUU) Director Mark W. Lanigan acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average cost of $33.43 per share, with a total value of $668,600.00. Following the completion of the transaction, the director now directly owns 73,368 shares in the company, valued at $2,452,692.24. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Malibu Boats Stock Up 3.4 %

Malibu Boats stock opened at $35.61 on Thursday. Malibu Boats, Inc. has a 52 week low of $31.47 and a 52 week high of $62.36. The firm has a market cap of $727.87 million, a price-to-earnings ratio of -13.34 and a beta of 1.41. The business’s 50-day moving average price is $38.91 and its 200 day moving average price is $44.83. 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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its stake in shares of Malibu Boats by 55.6% in the 1st quarter. Russell Investments Group Ltd. now owns 14,926 shares of the company’s stock valued at $646,000 after purchasing an additional 5,332 shares during the period. Inspire Investing LLC acquired a new position in shares of Malibu Boats in the first quarter worth about $304,000. Inspire Advisors LLC purchased a new stake in shares of Malibu Boats during the 1st quarter worth about $1,008,000. Empowered Funds LLC boosted its stake in shares of Malibu Boats by 21.3% during the 1st quarter. Empowered Funds LLC now owns 48,322 shares of the company’s stock worth $2,091,000 after acquiring an additional 8,480 shares in the last quarter. Finally, Quantbot Technologies LP grew its position in shares of Malibu Boats by 121.9% during the 1st quarter. Quantbot Technologies LP now owns 6,568 shares of the company’s stock valued at $284,000 after acquiring an additional 3,608 shares during the period. Institutional investors and hedge funds own 91.35% of the company’s stock.

Wall Street Analyst Weigh In

MBUU has been the subject of a number of research analyst reports. Truist Financial decreased their price target on shares of Malibu Boats from $52.00 to $42.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Raymond James cut Malibu Boats from an “outperform” rating to a “market perform” rating in a research report on Monday, April 15th. Robert W. Baird reduced their price objective on Malibu Boats from $50.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. B. Riley decreased their target price on Malibu Boats from $45.00 to $39.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Finally, StockNews.com downgraded shares of Malibu Boats from a “hold” rating to a “sell” rating in a report on Monday. 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. According to MarketBeat, Malibu Boats currently has an average rating of “Hold” and a consensus target price of $43.00.

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.