218,714 Shares in Malibu Boats, Inc. (NASDAQ:MBUU) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 218,714 shares of the company’s stock, valued at approximately $8,221,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MBUU. Wellington Management Group LLP grew its position in Malibu Boats by 154.8% during the third quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock worth $57,321,000 after buying an additional 897,387 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Malibu Boats by 370.5% in the 4th quarter. Bank of New York Mellon Corp now owns 440,829 shares of the company’s stock worth $16,571,000 after purchasing an additional 347,144 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Malibu Boats by 1,267.7% in the 3rd quarter. Janus Henderson Group PLC now owns 238,576 shares of the company’s stock worth $9,259,000 after purchasing an additional 221,133 shares in the last quarter. Meros Investment Management LP purchased a new position in shares of Malibu Boats in the 3rd quarter worth about $4,117,000. Finally, Stadium Capital Management LLC purchased a new position in shares of Malibu Boats in the 3rd quarter worth about $2,682,000. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Truist Financial upped their price objective on Malibu Boats from $34.00 to $38.00 and gave the stock a “hold” rating in a report on Friday, January 31st. B. Riley upgraded Malibu Boats to a “hold” rating in a report on Wednesday, February 12th. StockNews.com upgraded Malibu Boats from a “sell” rating to a “hold” rating in a report on Tuesday, March 11th. Benchmark reiterated a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a report on Tuesday, February 4th. Finally, KeyCorp lowered Malibu Boats from an “overweight” rating to a “sector weight” rating in a research note on Thursday. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.83.

Malibu Boats Trading Down 0.9 %

NASDAQ MBUU opened at $29.55 on Friday. Malibu Boats, Inc. has a 1-year low of $29.02 and a 1-year high of $47.82. The company has a current ratio of 1.52, a quick ratio of 0.45 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average of $34.91 and a 200-day moving average of $38.36. The firm has a market cap of $580.21 million, a PE ratio of -6.79 and a beta of 1.42.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, January 30th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Malibu Boats had a negative net margin of 12.09% and a positive return on equity of 1.04%. As a group, sell-side analysts forecast that Malibu Boats, Inc. will post 1.69 EPS for the current year.

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.