Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in Malibu Boats, Inc. (NASDAQ:MBUU)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Malibu Boats, Inc. (NASDAQ:MBUU) by 58.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,272 shares of the company’s stock after purchasing an additional 2,306 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Malibu Boats were worth $344,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MBUU. International Assets Investment Management LLC bought a new position in shares of Malibu Boats during the fourth quarter valued at $48,000. Hsbc Holdings PLC purchased a new position in Malibu Boats in the 3rd quarter worth about $203,000. Howe & Rusling Inc. lifted its stake in Malibu Boats by 14.7% during the 3rd quarter. Howe & Rusling Inc. now owns 4,427 shares of the company’s stock valued at $217,000 after acquiring an additional 569 shares during the period. Principal Financial Group Inc. boosted its holdings 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 valued at $226,000 after acquiring an additional 906 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Malibu Boats in the third quarter worth approximately $230,000. Institutional investors own 91.35% of the company’s stock.

Insider Activity

In other news, insider Michael K. Hooks bought 12,500 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was 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 approximately $535,250. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.62% of the company’s stock.

Malibu Boats Price Performance

NASDAQ MBUU opened at $32.64 on Friday. The company has a current ratio of 1.82, a quick ratio of 0.69 and a debt-to-equity ratio of 0.06. Malibu Boats, Inc. has a 12 month low of $31.47 and a 12 month high of $62.36. The stock has a market cap of $666.84 million, a price-to-earnings ratio of -12.22 and a beta of 1.41. The company’s 50 day moving average is $39.44 and its two-hundred day moving average is $45.15.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. StockNews.com upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. B. Riley dropped their price target on Malibu Boats from $45.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Truist Financial cut their price objective on Malibu Boats from $52.00 to $42.00 and set a “buy” rating for the company in a report on Friday. Robert W. Baird dropped their target price on Malibu Boats from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Raymond James lowered shares of Malibu Boats from an “outperform” rating to a “market perform” rating in a research report on Monday, April 15th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Malibu Boats currently has an average rating of “Hold” and a consensus 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.