Fmr LLC cut its position in Malibu Boats, Inc. (NASDAQ:MBUU) by 80.2% during the first quarter, Holdings Channel reports. The firm owned 40,600 shares of the company’s stock after selling 164,233 shares during the period. Fmr LLC’s holdings in Malibu Boats were worth $911,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MBUU. JPMorgan Chase & Co. raised its stake in Malibu Boats by 1.5% in the first quarter. JPMorgan Chase & Co. now owns 1,896,766 shares of the company’s stock worth $42,582,000 after buying an additional 27,494 shares during the period. Macquarie Group Ltd. raised its stake in Malibu Boats by 7.5% in the fourth quarter. Macquarie Group Ltd. now owns 1,128,757 shares of the company’s stock worth $21,537,000 after buying an additional 78,352 shares during the period. Punch & Associates Investment Management Inc. raised its stake in Malibu Boats by 0.4% in the first quarter. Punch & Associates Investment Management Inc. now owns 562,599 shares of the company’s stock worth $12,630,000 after buying an additional 2,235 shares during the period. American Century Companies Inc. raised its stake in Malibu Boats by 27.9% in the first quarter. American Century Companies Inc. now owns 465,496 shares of the company’s stock worth $10,450,000 after buying an additional 101,672 shares during the period. Finally, State Street Corp raised its stake in Malibu Boats by 4.7% in the fourth quarter. State Street Corp now owns 368,117 shares of the company’s stock worth $7,025,000 after buying an additional 16,495 shares during the period. 99.81% of the stock is owned by institutional investors and hedge funds.

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MBUU has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Malibu Boats from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Wednesday, June 21st. BMO Capital Markets reissued a “hold” rating and issued a $22.00 price target on shares of Malibu Boats in a research report on Thursday, May 4th. B. Riley reissued a “buy” rating and issued a $26.00 price target on shares of Malibu Boats in a research report on Saturday, May 13th. ValuEngine raised shares of Malibu Boats from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, BidaskClub lowered shares of Malibu Boats from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $25.20.

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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Institutional Ownership by Quarter for Malibu Boats (NASDAQ:MBUU)

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