Malibu Boats (MBUU) Downgraded by BidaskClub to “Hold”

Malibu Boats (NASDAQ:MBUU) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Several other research firms have also issued reports on MBUU. ValuEngine lowered Malibu Boats from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. BMO Capital Markets reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Malibu Boats in a research note on Friday, October 13th. Aegis assumed coverage on Malibu Boats in a research note on Monday, October 2nd. They issued a “buy” rating and a $37.00 price objective for the company. KeyCorp reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Malibu Boats in a research note on Friday, October 20th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $29.50 price objective (up from $25.50) on shares of Malibu Boats in a research note on Monday, November 6th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $32.31.

Shares of Malibu Boats (NASDAQ:MBUU) opened at $29.50 on Thursday. The stock has a market capitalization of $635.88, a P/E ratio of 18.58, a PEG ratio of 1.07 and a beta of 1.00. Malibu Boats has a one year low of $17.17 and a one year high of $33.35. The company has a quick ratio of 0.71, a current ratio of 1.46 and a debt-to-equity ratio of 0.94.

In related news, CFO Wayne R. Wilson sold 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $31.20, for a total transaction of $1,092,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Deborah S. Kent sold 1,497 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $31.16, for a total value of $46,646.52. The disclosure for this sale can be found here. Insiders have sold a total of 131,497 shares of company stock valued at $3,964,297 over the last three months. 3.50% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the stock. Alps Advisors Inc. lifted its stake in shares of Malibu Boats by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 22,747 shares of the company’s stock worth $588,000 after acquiring an additional 58 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Malibu Boats by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 19,767 shares of the company’s stock worth $511,000 after acquiring an additional 160 shares during the last quarter. Voya Investment Management LLC increased its holdings in Malibu Boats by 14.9% during the 2nd quarter. Voya Investment Management LLC now owns 10,529 shares of the company’s stock worth $272,000 after purchasing an additional 1,366 shares during the period. Russell Investments Group Ltd. increased its holdings in Malibu Boats by 3.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 55,860 shares of the company’s stock worth $1,767,000 after purchasing an additional 1,735 shares during the period. Finally, Mckinley Capital Management LLC Delaware increased its holdings in Malibu Boats by 1.6% during the 3rd quarter. Mckinley Capital Management LLC Delaware now owns 194,937 shares of the company’s stock worth $6,168,000 after purchasing an additional 2,978 shares during the period.

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About Malibu Boats

Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s segments include the U.S. and Australia. Each segment is engaged in the manufacturing, distribution, marketing and sale of performance sport boats. Its U.S. segment serves markets in North America, South America, Europe and Asia.

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