Malibu Boats Inc. (MBUU) Sees Large Volume Increase
Shares of Malibu Boats Inc. (NASDAQ:MBUU) saw an uptick in trading volume on Wednesday . 165,178 shares traded hands during mid-day trading, an increase of 120% from the previous session’s volume of 74,914 shares.The stock last traded at $12.86 and had previously closed at $12.88.
Several brokerages recently issued reports on MBUU. BMO Capital Markets lowered shares of Malibu Boats from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 10th. B. Riley reiterated a “buy” rating and issued a $22.00 price target on shares of Malibu Boats in a research note on Tuesday, May 10th. Wunderlich decreased their price target on shares of Malibu Boats from $27.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, May 4th. Finally, Zacks Investment Research upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Wednesday, April 27th.
The company’s 50 day moving average is $13.07 and its 200 day moving average is $14.30. The stock has a market cap of $230.44 million and a P/E ratio of 11.28.
A hedge fund recently raised its stake in Malibu Boats stock. Wells Fargo & Company MN boosted its stake in shares of Malibu Boats Inc. (NASDAQ:MBUU) by 20.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 669,294 shares of the company’s stock after buying an additional 115,823 shares during the period. Wells Fargo & Company MN owned about 3.72% of Malibu Boats worth $10,956,000 at the end of the most recent reporting period.
Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s boats are used for water sports, including water skiing, wakeboarding and wake surfing, as well as general recreational boating. The Company sells its boats under two brands: Malibu and Axis. Its flagship Malibu brand boats are designed for consumers seeking a premium boating experience.
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