Mark W. Lanigan Buys 20,000 Shares of Malibu Boats, Inc. (NASDAQ:MBUU) Stock

Malibu Boats, Inc. (NASDAQ:MBUU) Director Mark W. Lanigan bought 20,000 shares of the business’s 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 owns 73,368 shares of the company’s stock, valued at $2,452,692.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Malibu Boats Stock Up 0.6 %

Malibu Boats stock traded up $0.21 during mid-day trading on Tuesday, hitting $34.45. The company had a trading volume of 365,395 shares, compared to its average volume of 281,707. Malibu Boats, Inc. has a 12 month low of $31.47 and a 12 month high of $62.36. The company has a market capitalization of $704.16 million, a PE ratio of -12.82 and a beta of 1.41. The stock’s 50 day moving average price is $39.25 and its two-hundred day moving average price is $45.00. The company has a current ratio of 1.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.03.

Institutional Trading of Malibu Boats

Several institutional investors have recently bought and sold shares of MBUU. SG Americas Securities LLC bought a new position in shares of Malibu Boats in the third quarter worth approximately $325,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Malibu Boats by 10.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company’s stock valued at $194,000 after purchasing an additional 386 shares during the last quarter. Strs Ohio bought a new stake in shares of Malibu Boats in the 3rd quarter worth $720,000. Allspring Global Investments Holdings LLC raised its stake in shares of Malibu Boats by 9.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 137,100 shares of the company’s stock worth $6,721,000 after purchasing an additional 11,617 shares during the last quarter. Finally, Kendall Capital Management purchased a new stake in shares of Malibu Boats during the third quarter valued at $322,000. 91.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.