Wells Fargo & Company MN cut its stake in Malibu Boats Inc (NASDAQ:MBUU) by 7.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 131,696 shares of the company’s stock after selling 10,187 shares during the period. Wells Fargo & Company MN owned 0.65% of Malibu Boats worth $4,166,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of MBUU. SG Americas Securities LLC purchased a new position in Malibu Boats in the 2nd quarter worth approximately $116,000. Susquehanna International Group LLP purchased a new position in Malibu Boats in the 2nd quarter worth approximately $200,000. Stevens Capital Management LP purchased a new position in Malibu Boats in the 2nd quarter worth approximately $201,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Malibu Boats in the 2nd quarter worth approximately $211,000. Finally, Laurion Capital Management LP purchased a new position in Malibu Boats in the 2nd quarter worth approximately $211,000.

A number of equities analysts recently weighed in on MBUU shares. KeyCorp restated a “buy” rating and issued a $33.00 price objective on shares of Malibu Boats in a report on Friday, November 10th. Zacks Investment Research lowered shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 10th. BidaskClub downgraded shares of Malibu Boats from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. BMO Capital Markets lifted their target price on shares of Malibu Boats from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, November 13th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and issued a $36.00 target price (up previously from $30.00) on shares of Malibu Boats in a research report on Wednesday, November 8th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Malibu Boats currently has a consensus rating of “Buy” and a consensus target price of $32.44.

In other Malibu Boats news, CEO Jackie D. Jr. Springer sold 40,000 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $27.76, for a total value of $1,110,400.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Wayne R. Wilson sold 35,000 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. Insiders sold a total of 131,497 shares of company stock valued at $3,964,297 in the last ninety days. 3.50% of the stock is currently owned by insiders.

Shares of Malibu Boats Inc (MBUU) traded up $0.25 during mid-day trading on Monday, hitting $33.48. 278,236 shares of the stock were exchanged, compared to its average volume of 189,554. The company has a market cap of $682.13, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 1.13 and a beta of 1.00. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.71 and a current ratio of 1.46. Malibu Boats Inc has a 12-month low of $17.52 and a 12-month high of $34.88.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Tuesday, November 7th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.09. Malibu Boats had a net margin of 9.42% and a return on equity of 54.78%. sell-side analysts expect that Malibu Boats Inc will post 1.96 earnings per share for the current fiscal year.

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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.

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

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