Malibu Boats, Inc. (NASDAQ:MBUU) Director Acquires $668,600.00 in Stock

Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report) Director Mark W. Lanigan bought 20,000 shares of the stock in a transaction on Monday, May 6th. The stock was purchased at an average cost of $33.43 per share, with a total value of $668,600.00. Following the purchase, the director now directly owns 73,368 shares of the company's stock, valued at approximately $2,452,692.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Malibu Boats Stock Up 0.6 %

Malibu Boats stock traded up $0.21 during midday trading on Tuesday, reaching $34.45. The stock had a trading volume of 365,395 shares, compared to its average volume of 281,707. The stock has a market capitalization of $704.16 million, a P/E ratio of -12.82 and a beta of 1.41. Malibu Boats, Inc. has a 1-year low of $31.47 and a 1-year high of $62.36. The firm's fifty day simple moving average is $39.25 and its 200-day simple moving average is $45.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.66 and a current ratio of 1.67.

Analyst Upgrades and Downgrades

MBUU has been the subject of several research analyst reports. KeyCorp decreased their price target on shares of Malibu Boats from $50.00 to $38.00 and set an "overweight" rating for the company in a report on Friday. StockNews.com lowered Malibu Boats from a "hold" rating to a "sell" rating in a research report on Monday. Truist Financial decreased their price objective on Malibu Boats from $52.00 to $42.00 and set a "buy" rating for the company in a research report on Friday. Robert W. Baird dropped their target price on shares of Malibu Boats from $50.00 to $40.00 and set an "outperform" rating on the stock in a report on Friday. Finally, B. Riley cut their price target on shares of Malibu Boats from $45.00 to $39.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Malibu Boats has an average rating of "Hold" and a consensus target price of $43.00.

Institutional Trading of Malibu Boats

A number of institutional investors have recently made changes to their positions in MBUU. Empowered Funds LLC increased its stake in Malibu Boats by 21.3% in the 1st quarter. Empowered Funds LLC now owns 48,322 shares of the company's stock valued at $2,091,000 after buying an additional 8,480 shares during the last quarter. Quantbot Technologies LP increased its position in shares of Malibu Boats by 121.9% in the first 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 last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Malibu Boats in the first quarter valued at about $142,000. BNP Paribas Financial Markets raised its holdings in Malibu Boats by 54.8% during the first quarter. BNP Paribas Financial Markets now owns 19,453 shares of the company's stock worth $842,000 after acquiring an additional 6,888 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Malibu Boats by 74.1% during the first quarter. Principal Financial Group Inc. now owns 9,293 shares of the company's stock valued at $402,000 after purchasing an additional 3,954 shares during the last quarter. Institutional investors own 91.35% of the company's stock.

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.

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