Central Pacific Bank Trust Division Takes $142,000 Position in Malibu Boats, Inc. (NASDAQ:MBUU)

Central Pacific Bank Trust Division acquired a new stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,258 shares of the company’s stock, valued at approximately $142,000.

Several other institutional investors have also recently made changes to their positions in MBUU. BNP Paribas Financial Markets raised its holdings in shares of Malibu Boats by 54.8% in the 1st quarter. BNP Paribas Financial Markets now owns 19,453 shares of the company’s stock worth $842,000 after acquiring an additional 6,888 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Malibu Boats by 74.1% in the 1st quarter. Principal Financial Group Inc. now owns 9,293 shares of the company’s stock worth $402,000 after acquiring an additional 3,954 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Malibu Boats by 36.5% in the 1st quarter. Benjamin Edwards Inc. now owns 3,573 shares of the company’s stock worth $155,000 after acquiring an additional 955 shares during the last quarter. Denali Advisors LLC acquired a new stake in shares of Malibu Boats in the 1st quarter worth about $221,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Malibu Boats by 27.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 99,207 shares of the company’s stock worth $4,294,000 after acquiring an additional 21,626 shares during the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MBUU. Truist Financial restated a “hold” rating and issued a $32.00 target price on shares of Malibu Boats in a report on Monday. Raymond James downgraded shares of Malibu Boats from an “outperform” rating to a “market perform” rating in a research report on Monday, April 15th. B. Riley reduced their price objective on shares of Malibu Boats from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Benchmark started coverage on shares of Malibu Boats in a research report on Wednesday, May 22nd. They issued a “buy” rating and a $44.00 price objective for the company. Finally, KeyCorp reduced their price objective on shares of Malibu Boats from $50.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Malibu Boats presently has a consensus rating of “Hold” and a consensus target price of $41.71.

Insider Activity

In other Malibu Boats news, Director Mark W. Lanigan acquired 20,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average cost of $33.43 per share, with a total value of $668,600.00. Following the acquisition, the director now owns 73,368 shares in the company, valued at $2,452,692.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.62% of the company’s stock.

Malibu Boats Stock Performance

Shares of Malibu Boats stock traded up $0.12 on Wednesday, reaching $30.64. 16,274 shares of the company traded hands, compared to its average volume of 264,896. Malibu Boats, Inc. has a 52 week low of $30.20 and a 52 week high of $60.72. The company has a 50 day moving average of $35.36 and a 200 day moving average of $41.36. The firm has a market capitalization of $626.28 million, a PE ratio of -11.42 and a beta of 1.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.67 and a quick ratio of 0.66.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, May 2nd. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.14. Malibu Boats had a negative net margin of 5.19% and a positive return on equity of 18.01%. The firm had revenue of $203.42 million during the quarter, compared to the consensus estimate of $205.83 million. Equities analysts forecast that Malibu Boats, Inc. will post 1.84 earnings per share for the current year.

About Malibu Boats

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.