Denali Advisors LLC Acquires Shares of 5,100 Malibu Boats, Inc. (NASDAQ:MBUU)

Denali Advisors LLC acquired a new stake in Malibu Boats, Inc. (NASDAQ:MBUU) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,100 shares of the company’s stock, valued at approximately $221,000.

Other hedge funds have also recently modified their holdings of the company. Hohimer Wealth Management LLC boosted its stake in shares of Malibu Boats by 3.0% during the 4th quarter. Hohimer Wealth Management LLC now owns 10,438 shares of the company’s stock valued at $572,000 after purchasing an additional 301 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Malibu Boats by 13.8% during the 4th quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock valued at $144,000 after purchasing an additional 318 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Malibu Boats during the 4th quarter valued at about $48,000. Deutsche Bank AG boosted its stake in shares of Malibu Boats by 12.0% during the 3rd quarter. Deutsche Bank AG now owns 13,306 shares of the company’s stock valued at $652,000 after purchasing an additional 1,427 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Malibu Boats by 17.5% during the 4th quarter. Raymond James & Associates now owns 12,077 shares of the company’s stock valued at $662,000 after purchasing an additional 1,795 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Insider Transactions at Malibu Boats

In other news, Director Mark W. Lanigan bought 20,000 shares of the stock in a transaction dated Monday, May 6th. The stock was purchased at an average price of $33.43 per share, for a total transaction of $668,600.00. Following the acquisition, the director now owns 73,368 shares of the company’s stock, valued at $2,452,692.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Benchmark assumed coverage on shares of Malibu Boats in a research note on Wednesday, May 22nd. They set a “buy” rating and a $44.00 target price on the stock. B. Riley dropped their price objective on shares of Malibu Boats from $45.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. KeyCorp dropped their price objective on shares of Malibu Boats from $50.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. StockNews.com raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Monday, June 17th. Finally, Robert W. Baird dropped their price objective on shares of Malibu Boats from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.14.

Malibu Boats Price Performance

MBUU traded up $0.48 during trading on Wednesday, hitting $33.57. 72,069 shares of the company traded hands, compared to its average volume of 266,441. The company has a market cap of $686.17 million, a PE ratio of -12.39 and a beta of 1.40. The stock’s 50-day simple moving average is $35.56 and its two-hundred day simple moving average is $42.10. Malibu Boats, Inc. has a 1 year low of $31.47 and a 1 year high of $60.72. The company has a current ratio of 1.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.03.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. Malibu Boats had a negative net margin of 5.19% and a positive return on equity of 18.01%. The business had revenue of $203.42 million during the quarter, compared to analysts’ expectations of $205.83 million. As a group, sell-side analysts anticipate that Malibu Boats, Inc. will post 1.84 earnings per share for the current fiscal year.

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.