Raymond James Financial Inc. Takes Position in Malibu Boats, Inc. (NASDAQ:MBUU)

Raymond James Financial Inc. bought a new position in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 218,714 shares of the company's stock, valued at approximately $8,221,000. Raymond James Financial Inc. owned approximately 1.11% of Malibu Boats as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its holdings in shares of Malibu Boats by 4.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 7,977 shares of the company's stock valued at $300,000 after purchasing an additional 311 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in shares of Malibu Boats by 11.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company's stock valued at $136,000 after purchasing an additional 368 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of Malibu Boats during the 4th quarter valued at $38,000. Invesco Ltd. raised its holdings in shares of Malibu Boats by 2.4% during the 4th quarter. Invesco Ltd. now owns 49,005 shares of the company's stock valued at $1,842,000 after purchasing an additional 1,141 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Malibu Boats by 7.9% during the 4th quarter. Wells Fargo & Company MN now owns 16,452 shares of the company's stock valued at $618,000 after purchasing an additional 1,211 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company's stock.

Malibu Boats Stock Performance

NASDAQ MBUU traded down $0.19 during midday trading on Monday, hitting $28.65. The company had a trading volume of 127,295 shares, compared to its average volume of 220,452. The company has a quick ratio of 0.45, a current ratio of 1.52 and a debt-to-equity ratio of 0.04. The stock has a market cap of $562.54 million, a price-to-earnings ratio of -6.59 and a beta of 1.27. The firm has a fifty day simple moving average of $29.98 and a two-hundred day simple moving average of $36.35. Malibu Boats, Inc. has a fifty-two week low of $24.43 and a fifty-two week high of $47.82.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). Malibu Boats had a positive return on equity of 1.04% and a negative net margin of 12.09%. Equities analysts forecast that Malibu Boats, Inc. will post 1.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MBUU. Truist Financial cut their price target on shares of Malibu Boats from $38.00 to $28.00 and set a "hold" rating on the stock in a report on Monday, April 14th. DA Davidson upgraded shares of Malibu Boats to a "hold" rating in a report on Monday, April 14th. StockNews.com upgraded shares of Malibu Boats from a "sell" rating to a "hold" rating in a report on Tuesday, April 15th. KeyCorp downgraded shares of Malibu Boats from an "overweight" rating to a "sector weight" rating in a report on Thursday, March 20th. Finally, B. Riley upgraded shares of Malibu Boats to a "hold" rating in a report on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $38.17.

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.