Raymond James & Associates Has $662,000 Holdings in Malibu Boats, Inc. (NASDAQ:MBUU)

Raymond James & Associates grew its position in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 17.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,077 shares of the company’s stock after buying an additional 1,795 shares during the quarter. Raymond James & Associates’ holdings in Malibu Boats were worth $662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. IFP Advisors Inc acquired a new position in Malibu Boats in the third quarter worth approximately $25,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Malibu Boats by 10.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company’s stock worth $194,000 after acquiring an additional 386 shares in the last quarter. Hsbc Holdings PLC bought a new position in Malibu Boats during the third quarter valued at about $203,000. Howe & Rusling Inc. lifted its position in shares of Malibu Boats by 14.7% in the third quarter. Howe & Rusling Inc. now owns 4,427 shares of the company’s stock worth $217,000 after buying an additional 569 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Malibu Boats by 24.5% during the 3rd quarter. Principal Financial Group Inc. now owns 4,604 shares of the company’s stock worth $226,000 after acquiring an additional 906 shares in the last quarter. 91.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MBUU. StockNews.com raised Malibu Boats from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Raymond James lowered shares of Malibu Boats from an “outperform” rating to a “market perform” rating in a research report on Monday, April 15th. Robert W. Baird reaffirmed an “outperform” rating and set a $54.00 price objective on shares of Malibu Boats in a report on Friday, January 19th. KeyCorp lowered their target price on shares of Malibu Boats from $58.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Finally, B. Riley cut their target price on shares of Malibu Boats from $45.00 to $39.00 and set a “neutral” rating for the company in a research 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 stock. Based on data from MarketBeat.com, Malibu Boats presently has an average rating of “Hold” and an average price target of $49.00.

Malibu Boats Price Performance

NASDAQ:MBUU opened at $34.74 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.82 and a quick ratio of 0.69. Malibu Boats, Inc. has a one year low of $33.77 and a one year high of $62.36. The company has a fifty day moving average price of $41.04 and a 200 day moving average price of $45.94. The stock has a market cap of $709.77 million, a P/E ratio of 11.13 and a beta of 1.37.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The business had revenue of $211.07 million during the quarter, compared to analyst estimates of $219.64 million. During the same quarter in the prior year, the business earned $1.78 earnings per share. The firm’s revenue for the quarter was down 37.7% on a year-over-year basis. Analysts anticipate that Malibu Boats, Inc. will post 2.55 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Michael K. Hooks acquired 12,500 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were bought at an average price of $42.82 per share, with a total value 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.62% of the company’s stock.

Malibu Boats 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.