Malibu Boats (NASDAQ:MBUU) PT Lowered to $38.00 at KeyCorp

Malibu Boats (NASDAQ:MBUU) had its price target lowered by KeyCorp from $50.00 to $38.00 in a research note issued to investors on Friday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Other research analysts have also recently issued research reports about the stock. Truist Financial cut their target price on shares of Malibu Boats from $52.00 to $42.00 and set a buy rating on the stock in a report on Friday. StockNews.com raised shares of Malibu Boats from a sell rating to a hold rating in a research note on Monday, February 26th. Robert W. Baird cut their target price on Malibu Boats from $50.00 to $40.00 and set an outperform rating on the stock in a research note on Friday. Raymond James lowered Malibu Boats from an outperform rating to a market perform rating in a research report on Monday, April 15th. Finally, B. Riley dropped 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $43.00.

Malibu Boats Trading Up 4.9 %

NASDAQ MBUU traded up $1.60 during trading on Friday, hitting $34.24. 405,079 shares of the company’s stock traded hands, compared to its average volume of 280,746. The firm has a market cap of $699.87 million, a P/E ratio of -12.22 and a beta of 1.41. Malibu Boats has a 12-month low of $31.47 and a 12-month high of $62.36. The stock has a fifty day moving average of $39.44 and a two-hundred day moving average of $45.11. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.67 and a quick ratio of 0.66.

Insider Buying and Selling at Malibu Boats

In other news, insider Michael K. Hooks bought 12,500 shares of Malibu Boats stock in a transaction on Thursday, February 22nd. The shares were purchased at an average price of $42.82 per share, for a total transaction of $535,250.00. Following the acquisition, the insider now owns 12,500 shares of the company’s stock, valued at $535,250. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.62% of the company’s stock.

Institutional Trading of Malibu Boats

A number of hedge funds and other institutional investors have recently modified their holdings of MBUU. Raymond James Financial Services Advisors Inc. boosted its stake in Malibu Boats by 828.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 41,686 shares of the company’s stock worth $2,285,000 after acquiring an additional 37,197 shares in the last quarter. Invesco Ltd. boosted its position in shares of Malibu Boats by 272.7% in the 3rd quarter. Invesco Ltd. now owns 127,109 shares of the company’s stock worth $6,231,000 after purchasing an additional 93,004 shares in the last quarter. UBS Group AG grew its stake in shares of Malibu Boats by 33.7% in the 3rd quarter. UBS Group AG now owns 147,563 shares of the company’s stock worth $7,234,000 after buying an additional 37,217 shares during the last quarter. Vanguard Group Inc. increased its position in Malibu Boats by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,365,273 shares of the company’s stock valued at $66,926,000 after buying an additional 35,474 shares in the last quarter. Finally, Swiss National Bank raised its stake in Malibu Boats by 1.8% during the third quarter. Swiss National Bank now owns 45,400 shares of the company’s stock valued at $2,226,000 after buying an additional 800 shares during the last quarter. 91.35% of the stock is owned by hedge funds and other institutional investors.

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.