Malibu Boats Inc. (MBUU) Shares Up 4.9%
Malibu Boats Inc. (NASDAQ:MBUU) shares shot up 4.9% during mid-day trading on Monday . The company traded as high as $13.85 and last traded at $13.81, with a volume of 84,511 shares trading hands. The stock had previously closed at $13.17.
A number of brokerages have issued reports on MBUU. Zacks Investment Research upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Wednesday, April 27th. Wunderlich cut their price target on shares of Malibu Boats from $27.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, May 4th. B. Riley restated a “buy” rating and set a $22.00 price target on shares of Malibu Boats in a research note on Tuesday, May 10th. Finally, 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.
The firm has a 50 day moving average price of $13.00 and a 200-day moving average price of $14.31. The firm has a market cap of $247.46 million and a PE ratio of 12.11.
A hedge fund recently raised its stake in Malibu Boats stock. Wells Fargo & Company MN raised 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 (SEC). The firm owned 669,294 shares of the company’s stock after buying an additional 115,823 shares during the period. Wells Fargo & Company MN owned 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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