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

Raymond James Financial Inc. bought a new stake in Malibu Boats, Inc. (NASDAQ:MBUU) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 large investors also recently modified their holdings of the company. Exchange Traded Concepts LLC lifted its holdings in Malibu Boats by 4.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,977 shares of the company’s stock worth $300,000 after acquiring an additional 311 shares during the period. Central Pacific Bank Trust Division lifted its holdings in Malibu Boats by 11.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock worth $136,000 after acquiring an additional 368 shares during the period. Studio Investment Management LLC raised its stake in shares of Malibu Boats by 53.7% in the third quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock valued at $42,000 after buying an additional 380 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of Malibu Boats in the fourth quarter valued at $38,000. Finally, Benjamin Edwards Inc. raised its stake in shares of Malibu Boats by 28.6% in the third quarter. Benjamin Edwards Inc. now owns 6,572 shares of the company’s stock valued at $255,000 after buying an additional 1,460 shares during the period. Institutional investors own 91.35% of the company’s stock.

Malibu Boats Price Performance

Shares of NASDAQ MBUU opened at $29.55 on Friday. The stock has a market cap of $580.21 million, a PE ratio of -6.79 and a beta of 1.42. Malibu Boats, Inc. has a fifty-two week low of $29.02 and a fifty-two week high of $47.82. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52. The stock has a fifty day moving average of $34.91 and a 200-day moving average of $38.36.

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

Analyst Ratings Changes

Several analysts have issued reports on the company. KeyCorp lowered Malibu Boats from an “overweight” rating to a “sector weight” rating in a research note on Thursday. StockNews.com upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research note on Tuesday, March 11th. Benchmark restated a “buy” rating and issued a $44.00 target price on shares of Malibu Boats in a research note on Tuesday, February 4th. Truist Financial boosted their target price on Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Finally, B. Riley upgraded Malibu Boats to a “hold” rating in a research note on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.83.

About Malibu Boats

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.