Malibu Boats (NASDAQ:MBUU) Shares Gap Down to $86.80
Malibu Boats, Inc. (NASDAQ:MBUU)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $86.80, but opened at $81.75. Malibu Boats shares last traded at $81.25, with a volume of 1,394 shares trading hands.
A number of research analysts have recently issued reports on the company. Truist increased their target price on Malibu Boats from $75.00 to $82.00 in a research report on Wednesday, January 27th. B. Riley increased their target price on Malibu Boats from $85.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, February 10th. Zacks Investment Research downgraded Malibu Boats from a “buy” rating to a “hold” rating in a research note on Wednesday, April 14th. BMO Capital Markets increased their price objective on Malibu Boats from $86.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, February 10th. Finally, Raymond James increased their price objective on Malibu Boats from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, March 29th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Malibu Boats has a consensus rating of “Buy” and a consensus target price of $78.00.
The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 24.78 and a beta of 1.94. The business has a 50 day simple moving average of $83.64 and a 200-day simple moving average of $70.54. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.92 and a current ratio of 1.74.
In related news, CFO Wayne R. Wilson sold 27,266 shares of the firm’s stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $77.42, for a total transaction of $2,110,933.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Ritchie L. Anderson sold 7,500 shares of the firm’s stock in a transaction dated Thursday, February 11th. The shares were sold at an average price of $79.08, for a total value of $593,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 67,100 shares of company stock valued at $5,209,415 over the last three months. Corporate insiders own 1.74% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Royce & Associates LP boosted its holdings in Malibu Boats by 39.5% during the 4th quarter. Royce & Associates LP now owns 132,454 shares of the company’s stock valued at $8,270,000 after acquiring an additional 37,538 shares during the period. Amalgamated Bank purchased a new position in Malibu Boats during the 4th quarter valued at about $200,000. Mountain Capital Investment Advisors Inc purchased a new position in shares of Malibu Boats in the 4th quarter valued at about $427,000. Epoch Investment Partners Inc. purchased a new position in shares of Malibu Boats in the 4th quarter valued at about $4,490,000. Finally, Calamos Advisors LLC boosted its stake in shares of Malibu Boats by 25.3% in the 1st quarter. Calamos Advisors LLC now owns 70,973 shares of the company’s stock valued at $5,654,000 after buying an additional 14,336 shares during the period. Institutional investors own 97.47% of the company’s stock.
Malibu Boats Company Profile (NASDAQ:MBUU)
Malibu Boats, Inc designs, manufactures, distributes, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Cobalt, and Pursuit. The company offers performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Cobalt, and Pursuit brands.
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