Bank of Montreal Can Makes New $304,000 Investment in Malibu Boats, Inc. (NASDAQ:MBUU)

Bank of Montreal Can bought a new position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,981 shares of the company’s stock, valued at approximately $304,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Barnett & Company Inc. bought a new stake in Malibu Boats during the second quarter worth $205,000. Meritage Portfolio Management lifted its stake in shares of Malibu Boats by 27.8% in the 2nd quarter. Meritage Portfolio Management now owns 9,439 shares of the company’s stock valued at $554,000 after acquiring an additional 2,053 shares during the last quarter. Unison Advisors LLC bought a new position in shares of Malibu Boats in the 2nd quarter valued at $513,000. Hohimer Wealth Management LLC bought a new position in shares of Malibu Boats in the 2nd quarter valued at $595,000. Finally, EA Series Trust bought a new position in shares of Malibu Boats in the 2nd quarter valued at $2,339,000. 91.35% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO David Scott Black sold 631 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $43.40, for a total value of $27,385.40. Following the completion of the sale, the chief financial officer now directly owns 3,162 shares in the company, valued at approximately $137,230.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO David Scott Black sold 631 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $43.40, for a total value of $27,385.40. Following the completion of the sale, the chief financial officer now directly owns 3,162 shares in the company, valued at approximately $137,230.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Ritchie L. Anderson sold 13,360 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $44.14, for a total value of $589,710.40. Following the completion of the sale, the chief operating officer now owns 42,311 shares of the company’s stock, valued at $1,867,607.54. The disclosure for this sale can be found here. 1.62% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on MBUU. Robert W. Baird dropped their price target on Malibu Boats from $72.00 to $68.00 and set an “outperform” rating for the company in a research note on Wednesday, August 30th. KeyCorp dropped their price target on Malibu Boats from $65.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday, November 1st. Truist Financial dropped their price target on Malibu Boats from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, November 1st. DA Davidson decreased their price objective on Malibu Boats from $64.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, August 31st. Finally, B. Riley decreased their price objective on Malibu Boats from $69.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, August 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.43.

Malibu Boats Stock Performance

Shares of Malibu Boats stock opened at $46.75 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 0.80 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $47.34 and a two-hundred day moving average price of $52.82. Malibu Boats, Inc. has a 1-year low of $42.06 and a 1-year high of $65.45. The company has a market cap of $953.70 million, a P/E ratio of 10.75 and a beta of 1.53.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.24. Malibu Boats had a return on equity of 28.82% and a net margin of 6.70%. The firm had revenue of $255.83 million during the quarter, compared to the consensus estimate of $243.81 million. As a group, analysts anticipate that Malibu Boats, Inc. will post 5.11 EPS for the current year.

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.