Raymond James Financial Services Advisors Inc. purchased a new position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,100 shares of the company’s stock, valued at approximately $288,000.
Other large investors also recently made changes to their positions in the company. Lord Abbett & CO. LLC increased its stake in Malibu Boats by 1.9% in the second quarter. Lord Abbett & CO. LLC now owns 873,928 shares of the company’s stock valued at $22,609,000 after purchasing an additional 16,256 shares during the period. Dynamic Technology Lab Private Ltd boosted its holdings in Malibu Boats by 183.8% during the second quarter. Dynamic Technology Lab Private Ltd now owns 26,058 shares of the company’s stock worth $674,000 after buying an additional 16,875 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Malibu Boats during the second quarter worth about $518,000. Susquehanna International Group LLP purchased a new stake in Malibu Boats during the second quarter worth about $200,000. Finally, State Street Corp boosted its holdings in Malibu Boats by 2.6% during the second quarter. State Street Corp now owns 402,640 shares of the company’s stock worth $10,412,000 after buying an additional 10,308 shares in the last quarter.
Malibu Boats, Inc. (NASDAQ:MBUU) opened at $28.64 on Monday. The firm has a market cap of $583.51, a price-to-earnings ratio of 17.05, a PEG ratio of 0.98 and a beta of 1.00. The company has a quick ratio of 0.71, a current ratio of 1.46 and a debt-to-equity ratio of 0.94. Malibu Boats, Inc. has a 52 week low of $17.17 and a 52 week high of $33.35.
In other Malibu Boats news, VP Deborah S. Kent sold 1,497 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $31.16, for a total transaction of $46,646.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jackie D. Jr. Springer sold 40,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $27.76, for a total transaction of $1,110,400.00. The disclosure for this sale can be found here. Insiders sold 131,497 shares of company stock valued at $3,964,297 over the last 90 days. Insiders own 3.50% of the company’s stock.
A number of research firms recently commented on MBUU. B. Riley reissued a “neutral” rating and set a $25.50 price objective on shares of Malibu Boats in a report on Wednesday, September 13th. BidaskClub downgraded shares of Malibu Boats from a “buy” rating to a “hold” rating in a report on Thursday. SunTrust Banks reaffirmed a “buy” rating and issued a $32.00 price target (up previously from $30.00) on shares of Malibu Boats in a report on Friday, September 8th. BMO Capital Markets raised shares of Malibu Boats from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $29.00 to $32.00 in a research report on Monday, September 11th. Finally, ValuEngine lowered shares of Malibu Boats from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $32.31.
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Malibu Boats Company Profile
Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s segments include the U.S. and Australia. Each segment is engaged in the manufacturing, distribution, marketing and sale of performance sport boats. Its U.S. segment serves markets in North America, South America, Europe and Asia.
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