Raymond James Financial Services Advisors Inc. Increases Stock Position in Malibu Boats, Inc. (NASDAQ:MBUU)

Raymond James Financial Services Advisors Inc. lifted its position in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 828.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,686 shares of the company's stock after acquiring an additional 37,197 shares during the quarter. Raymond James Financial Services Advisors Inc. owned 0.20% of Malibu Boats worth $2,285,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MBUU. Price T Rowe Associates Inc. MD grew its position in Malibu Boats by 1.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 12,934 shares of the company's stock valued at $682,000 after acquiring an additional 170 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Malibu Boats by 44.7% in the third quarter. Public Employees Retirement System of Ohio now owns 560 shares of the company's stock worth $27,000 after purchasing an additional 173 shares during the last quarter. Stifel Financial Corp increased its stake in Malibu Boats by 2.4% in the 1st quarter. Stifel Financial Corp now owns 9,988 shares of the company's stock worth $564,000 after buying an additional 237 shares during the period. Bank of Montreal Can lifted its holdings in Malibu Boats by 8.6% during the 1st quarter. Bank of Montreal Can now owns 3,766 shares of the company's stock valued at $239,000 after buying an additional 298 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in Malibu Boats by 8.7% in the 1st quarter. HighTower Advisors LLC now owns 4,410 shares of the company's stock valued at $247,000 after buying an additional 354 shares during the period. 91.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Raymond James reduced their price objective on Malibu Boats from $59.00 to $46.00 and set an "outperform" rating on the stock in a report on Wednesday, January 31st. Truist Financial lowered their price objective on shares of Malibu Boats from $62.00 to $52.00 and set a "buy" rating for the company in a research note on Wednesday, January 31st. Robert W. Baird reiterated an "outperform" rating and set a $54.00 target price on shares of Malibu Boats in a report on Friday, January 19th. KeyCorp reduced their price target on shares of Malibu Boats from $58.00 to $50.00 and set an "overweight" rating for the company in a report on Wednesday, January 31st. Finally, StockNews.com upgraded shares of Malibu Boats from a "sell" rating to a "hold" rating in a research note on Monday, February 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $50.00.

Insider Buying and Selling

In other Malibu Boats news, insider Michael K. Hooks purchased 12,500 shares of Malibu Boats stock in a transaction on Thursday, February 22nd. The stock was bought at an average cost of $42.82 per share, with a total value of $535,250.00. Following the transaction, the insider now owns 12,500 shares of the company's stock, valued at approximately $535,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.62% of the company's stock.

Malibu Boats Stock Down 3.4 %

NASDAQ MBUU traded down $1.46 on Wednesday, hitting $41.77. The stock had a trading volume of 174,309 shares, compared to its average volume of 240,180. The business's fifty day moving average price is $43.23 and its 200 day moving average price is $46.83. The stock has a market cap of $853.36 million, a price-to-earnings ratio of 13.39 and a beta of 1.37. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.82 and a quick ratio of 0.69. Malibu Boats, Inc. has a 52-week low of $37.70 and a 52-week high of $62.36.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last posted its quarterly earnings results on Tuesday, January 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.10. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The business had revenue of $211.07 million during the quarter, compared to analysts' expectations of $219.64 million. During the same quarter last year, the company posted $1.78 earnings per share. The business's quarterly revenue was down 37.7% on a year-over-year basis. Equities research analysts anticipate that Malibu Boats, Inc. will post 2.57 earnings per share for the current year.

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.